Global Neoprene Rubber Market Expected To Reach 500 Metric Tons By 2020

Date: 2016-09-17

Global Neoprene Rubber market to grow at a CAGR of 5.53% during the period 2016-2020. According to the 2016 Neoprene Rubber market report, a key growth driver is the rising demand from emerging countries. 

The demand for Neoprene Rubber in emerging economies will increase at a steady pace during the forecast period. APAC is the largest consumer of Neoprene Rubber, and China is one of the leaders in Neoprene Rubber production and consumption. The Neoprene Rubber market in APAC will grow at a rapid pace during the forecast period. It is anticipated to account for more than half of the production and consumption of Neoprene Rubber driven by the demand from the automotive and construction industries during the forecast period.

Due to the increasing demand from end user industries such as Automotive, Electrical, Latex, Adhesives, Construction, the Global Neoprene Rubber market is expected to reach 500 metric tons by the year 2020. Asia Pacific and Latin America leads the Global Neoprene Rubber market due to their large demand for automobile component market which accounts for 20% of the global consumption of Neoprene Rubber. Also Asia Pacific has the highest rate of growth in Neoprene Rubber market with a CAGR of more than 3.4% through 2020. The adhesive end user market accounts for the highest share of Neoprene Rubber market globally. In the recent years there has been a high demand of chloroprene since it has been replacing other elastomer technologies. However the Neoprene Rubber market also faces a great competition from other synthetic rubber and natural rubber alternatives.

Neoprene Rubber is a synthetic polymer of chloroprene and possesses features such as excellent mechanical quality, high ozone and weather resistance, aging resistance, low flammability, high resistance to chemicals and fuel, moderate resistance to oil, and good adhesion to different type substrates. These characteristics have augmented the consumption of Neoprene Rubber as an adhesive in the automotive, construction, and cable and wire industries. APAC dominates the global Neoprene Rubber market and is likely to occupy more than 53% of the total market revenue by 2020. Factors such as high consumption of synthetic rubber, increase in a number of tire plants in Asia, and growth in vehicle production are promoting high consumption of Neoprene Rubber products in this region.

According to survey, the region of Neoprene Rubber market share as following:
neoprene-rubber
Read Full Report: http://www.gosreports.com/global-neoprene-rubber-industry-2015-market-research-report/

Joanna | Executive – International Business and partner Relations
E-mail: info@gosreports.com | Tel: 1-510-400-8520
Web: www.gosreports.com

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