Chloroprene Rubber Market Expected to Retain Dominance & Grow at an Encouraging

Posted by Priya on October 24th, 2018

Chloroprene Rubber Market Overview to 2023

Chloroprene Rubber offers greater resistance to oils and solvents than its counterpart natural rubber and synthetic styrene butadiene rubber (SBR), and against the destructive effects of sunlight, aging and oxidation. This is solely because chloroprene is a liquid similar to its other counterpart isoprene in chemical structure, the only difference being chloroprene having a chlorine atom where isoprene has a methyl group. The significant properties such as resistant to heat, abrasion, and flame. Its resilience is lower than that of natural rubber and decreases rapidly at lower temperature. Major applications are found in rubber industry, as raw material for modifying adhesives and in latex products manufacturing.

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Segmentation Analysis

The Global Chloroprene Rubber Market is categorized on the basis of type, application, and region. On the Basis of Grade, the market is bifurcated into linear, cross-linked, sulfur modified, and crystallizing resistant. On the basis of End Use Industry, the chloroprene rubber market is categorized into automobile, construction, furniture, chemical industries, textiles, and others. On the basis of Region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.

North American Chloroprene Rubber Market is predicted to witness a tremendous growth on account of high consumption potential, increasing production capacities, and rising economic growth rate. In the North American region, the U.S. is predicted to be a major contributor in the regional growth of Chloroprene Rubber Market and is expected to see a significant demand for Chloroprene Rubber during the forecast period, 2017 to 2023. As of 2016, the U.S accounts for the largest market share and is followed by Canada in terms of value & volume and is estimated to grow with the moderate CAGR on account of growth in the production of crude oil. Furthermore, penetration of light weight transportation trucks and vehicles is predicted to boost the existing growing chloroprene based tire market in this region.

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Regional Analysis 

North American Chloroprene Rubber Market is predicted to witness a tremendous growth on account of high consumption potential, increasing production capacities, and rising economic growth rate. In the North American region, the U.S. is predicted to be a major contributor in the regional growth of Chloroprene Rubber Market and is expected to see a significant demand for Chloroprene Rubber during the forecast period, 2017 to 2023. As of 2016, the U.S accounts for the largest market share and is followed by Canada in terms of value & volume and is estimated to grow with the moderate CAGR on account of growth in the production of crude oil.