Emphasis on Production Method (Acetylene and Butadiene); Grade (Industrial, Adhesive, and Latex); Application (Wires And Cables, Automobile Rubber Parts, Belts And Hoses, Rubber Linings, Sponges, And Wet Suits, General Purposes, and Adhesives); and Region and Country
The global chloroprene rubber market is expected to showcase a growth of over 4% during the forecast period (2021-2027). Chloroprene is a type of a synthetic rubber, since over the years the demand of synthetic rubber is increasing owing to easy availability, competitive cost compared to natural rubber, and suffice the physical and chemical requirement of end-use industries like automotive. Thus, increasing the preference for synthetic rubbers among manufacturers, thereby increasing the demand for chloroprene rubber as it is used in a wide range of application areas like automotive rubber parts, wires and cables, belts and hoses, and adhesive, among others.
However, chloroprene rubber industry is witnessing challenges in last few years with the decreasing production of automobiles. First change in the rules & regulation related to environment followed by COVID-19 had disrupted the global automobiles market. This in turn impacted the demand of chloroprene. In automobile industry, chloroprene is used in the production of air suspensions, constant velocity joint boots, rack and pinion boots, power steering hoses, brake hoses, belts for various drives, packing, joints, dust-proof caps, anti-vibration materials.
Insights Presented in the Report
“Amongst production method, butadiene held prominent share in the market in 2020.”
Based on production method, the market is categorized into acetylene and butadiene. Among both, butadiene held the significant share in the market and is expected to showcase significant growth during the forecast period. Large number of manufacturers prefer butadiene process as it is less energy-intensive and has low investment cost. Further, in case of acetylene way, production of vinyl acetylene is unstable which makes the reaction more intricate
“Amongst grade, industrial grade held prominent share in the market in 2020.”
Based on grade, the market is categorized into industrial, adhesive, and latex. Among all, industrial grade chloroprene has dominant share in the market. This can be attributable to wide use of chloroprene rubber in a wide range of industrial goods manufacturing like it is used as sheaths for wires and cables, automobile parts, belts and hoses, rubber linings, sponges, and wet suits, among others
“Asia-Pacific captured significant position in the Chloroprene Rubber market”
For a better understanding of the market adoption of chloroprene rubber, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia-Pacific held the considerable share in the global chloroprene rubber market owing to large and rapidly growing end-use industry particularly in countries like China and India. Countries like China, Japan, South Korea, and India are among the largest automobile producers in the world and production is further likely to increase as increasing demand of vehicles in countries like India and China and growing adoption of electric vehicles. Further, shifting of manufacturing facilities from western economies to the Asia-Pacific is increasing the consumption of Chloroprene Rubber
Reasons to buy this report:
Customization Options:
The global chloroprene rubber market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Global Chloroprene Rubber Market Covid-19 Impact
6. Global Chloroprene Rubber Market Revenue (usd Mn), 2019-2027f
7. Market Insights By Production Method
8. Market Insights By Application
9. Market Insights By Application
10. Market Insights By Region
11. Chloroprene Rubber Market Dynamics
12. Chloroprene Rubber Market Opportunities
13. Chloroprene Rubber Market Trends
14. Legal & Regulatory Framework
15. Demand And Supply Side Analysis
16. Value Chain Analysis
17. Competitive Scenario
18. Company Profiled
19. Disclaimer
Analyzing the historical market, estimation of the current market, and forecasting the future market of the Chloroprene Rubber three major steps undertaken to create and analyze its adoption across the globe. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Chloroprene Rubber industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Chloroprene Rubber through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Chloroprene Rubber market, we conducted a detailed secondary analysis to gather current market insights and share for different segments & sub-segments for major regions. Major segment included in the report by production method, grade, and application. Further regional and country-level analyses were conducted to evaluate the overall adoption of the Chloroprene Rubber globally.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Chloroprene Rubber. Further, we conducted factor analysis using dependent and independent variables such as increasing demand of wires and cables and growing adoption of electrical vehicles leading to demand of chloroprene rubber. A thorough analysis was conducted for demand and supply-side scenario considering increasing investment, top partnerships, merger and acquisition, business expansion, and product launches in the Chloroprene Rubber industry.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Chloroprene Rubber market, and market shares of each segment. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants by Stakeholders and Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global Chloroprene Rubber market. Data was split into several segments & sub-segments post studying various parameters and trends in the area of production method, grade, and application.
The main objective of the Chloroprene Rubber market study
The current & future market trends of global Chloroprene Rubber were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
Deep dive country level analysis of the industry
Customers who bought this item also bought
