Neoprene Market size was over USD 1.95 billion in 2018 and will witness 2.3% CAGR during the forecast timespan.

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Neoprene Market Growth, Application Analysis from
2019 to 2025
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Global Market Scenario of Neoprene Market

• According to a new research report by Global
  Market Insights, Inc. Global Neoprene Market size
  is forecast to exceed USD 2.28 billion by 2025.
• Global neoprene market is anticipated to be
  driven by burgeoning construction and automotive
  industry across the globe. The growing government
  investments in infrastructural projects in Asia
  Pacific and the Middle East is expected to
  attract huge funds from proficient financial
  players, in turn positively influencing neoprene
  market growth during the forecast timeframe.
• Neoprene is a synthetic rubber that exhibits
  excellent weather and thermal resistance. It also
  possess high tensile strength which makes them
  ideal for the use in transmission belts,
  vibrating mounts, shock absorber seals, bridge
  seals, and anchor components among others.
• The growing adoption of neoprene in the end user
  industries is expected to generate substantial
  revenue during the assessment period. However,
  neoprene is a petroleum derivative and volatility
  in crude prices is likely to impede with the
  smooth growth for neoprene market over the
  forecast period.
• On the basis of product, neoprene market has been
  segmented into neoprene foam/sponge, neoprene
  sheet and neoprene latex. Neoprene foam are
  widely used in aquatic sports gears diving
  suits, life jackets, dry suits, and other outdoor
  applications such as elbow and knee pads, sports
  gloves, bicycle seats and others.

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Continue-

• Grain-oriented electrical steel market demand
  from distribution transformers was valued at over
  USD 1.4 billion in 2018. These products offer
  reliability, durability and efficiency required
  in commercial and industrial applications.
• Neoprene latex is used in the manufacturing of
  industrial gloves and also in the production of
  neoprene latex adhesives which has varied
  applications in the automotive and building and
  construction industries..

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U.S. Neoprene Market Size, By End-user, 2014 -
2025 (USD Million)
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360 Industry Analysis

• Among the various end use industries, the
  automotive, electrical and electronics and
  building and construction segment respectively
  are the major revenue pockets during the
  assessment period. The growing adoption rate of
  neoprene in these industries is estimated to
  generate substantial revenue review period.

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• Regional Analysis
• Asia Pacific is anticipated to grow at the
  highest CAGR during the forecast period.
  Increasing infrastructural spending along with
  the propelling automotive sector in India, China
  and Japan is likely to boost Neoprene market size
  over the review years. Moreover, the presence of
  major neoprene manufacturing companies such as
  Denka Company Limited, TOSOH Corporation and
  Shanxi Synthetic Rubber Group Co Ltd is
  anticipated further augment the market growth.
• Competitive Analysis
• The companies operational in this industry
  includes giants such as Denka Company Limited,
  TOSOH Corporation and Shanxi Synthetic Rubber
  Group Co Ltd, Sundow Polymers Co., Ltd, Covestro
  AG, Lanxess, Zenith Rubber, BGK GmbH Endlosband,
  Pidilite Industries, The 3M Company, and TuHuang
  Chemical Co among others. The proficient
  manufactures are adopting various organic and
  inorganic growth strategies to expand their
  market presence. For instance, In May 2014, Denka
  announced the acquisition of Duponts business of
  chloroprene rubber.

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