Global Chloroprene Rubber (CR) Market 2015-2019
About Chloroprene Rubber
Chloroprene rubber (CR) is an artificial polymer, which acts as an elastomer. Elastomers can experience significantly greater elastic deformation under anxiety and recovers its previous size without permanent deformation. CR has great mechanical quality, high ozone and weather resistance, great aging resistance, low flammability, great resistance toward chemicals, moderate oil and fuel resistance and adhesion to many substrates. It plays a central role in the global economy, with major applications in the automotive, manufacturing, consumer goods, and medical industries. The automotive industry alone accounts for the majority of the share in 2014 and is the primary driver of changes in year-on-year consumption.
Technavio forecasts the global chloroprene rubber market to grow at a CAGR of 5.89% and 6.36% on the basis of production and consumption, over the period 2014-2019.
Covered in this Report
Technavio’s report, the Global Chloroprene Rubber Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from various industry experts. The report includes a comprehensive discussion on the market, an extensive coverage on various types of production techniques, applications and demand-supply dynamics in various geographies. The report provides comments on both the existing market landscape and its growth prospects over the forecast period. The report further includes a discussion of the key vendors.
The report further provides data on the following segments of the market
Technavio Announces the Publication of its Research Report – Global Chloroprene Rubber (CR) Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Chloroprene Rubber (CR) Market: Asahi kasei Chemicals, Chongqing Changshou Chemical, Denka, Dupont, Lanxess and Showa Denko
Other Prominent Vendors in the market are: China Bluestar New Chemical Materials, Chongqing Longevity Chemical, Nairit Plant and Zenith Industrial Rubber Products
Commenting on the report, an analyst from Technavio’s team said: “In December 2014, Denka signed a definitive agreement with DuPont, to sell DuPont's neoprene polychloroprene business to Denka Performance Elastomer, a new joint venture company owned 70% by Denka and 30% by Mitsui. Neoprene, invented by DuPont in 1931, is a synthetic rubber used for some chemical and climate-safe items, such as wet suits and orthopedic supports. It is also utilized as a base resin in cements, electrical sheathing, and coatings. DuPont is the main producer of neoprene polychloroprene in North America at its Pontchartrain Works site in Los Angeles, US.”
According to the report, CR is used in the manufacture of tires, oil seals, and even in tire adhesive in the automotive sector. The rapid growth of the automotive sector in developing countries and increased demand for high-performance tires, oil seals, and even in tire adhesive, are contributing to the growth of the global CR market. Tires are being made from CR as it provides improved performance, safety, and fuel efficiency. APAC was the largest producer and consumer of CR in 2014, with its tire sector exhibiting substantial growth. Due to the low labor and operating costs, many manufacturers have shifted their production facilities to APAC. However, the downstream tire sector in China is operating its plants at a reduced rate because of antidumping duties on China-produced tires in the US.
Further, the report states that butadiene obtained from crude oil is used to manufacture chloroprene, so the fluctuations in the price of crude oil have a significant impact on the global CR market.
Asahi kasei Chemicals,Chongqing Changshou Chemical, Denka, Dupont, Lanxess, Showa Denko, China Bluestar New Chemical Materials, Chongqing Longevity Chemical, Nairit Plant, Zenith Industrial Rubber Products