According to Researcher, the Global Chloroprene market is expected to witness a considerable growth rate during the forecast period. The primary factor responsible for the Global Chloroprene market's growth is the increasing demand from the rubber industry, as they are used as a raw material for adhesives and various latex applications. The usage of Chloroprene rubber in cables, molded goods, conveyor belts, and transmission belts is anticipated to increase the market share of Chloroprene significantly over the forecast period.
Asia-Pacific region is projected to dominate the Global Chloroprene market. Surging demand in diverse automobile and industrial component applications, increasing population, and rapid industrialization over the region is expected to further propel the Chloroprene market.
In terms of segmentation by application, the Global Chloroprene market is dominated by adhesives. This is due to the increasing consumption of coatings and adhesives in the construction and automotive industry. However, industrial rubber products, including gaskets, belts, and hoses, are projected to be the fastest-growing application segment due to the increasing demand from the manufacturing industry worldwide.
The Global Chloroprene market is highly fragmented. Major companies in the market were found to be DuPont Performance Elastomers, Denka Group, Asahi Kasei Chemicals Corporation, Dow Chemical Company, Lanxess AG, and Maclellan Rubber Ltd, among others.
Global Chloroprene Market report provides deep insight into the Chloroprene market's current and future state across various regions. The study comprehensively analyzes the Chloroprene market by segmenting based on Grade (Linear, Crystallizing Resistance, Sulfur Modified, and Others), Application (Wires & Cables, Coatings & Adhesives, Hoses & Tubes, and Other applications), End-user Industry (Automotive, Electronics, Construction, Furniture, Textile, and Other End-user Industries), and Geography (Europe, Asia-Pacific, North America, South America, and Middle-East & Africa). The report examines the market drivers and restraints, along with the impact of Covid-19 on the market growth in detail. The study covers & includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with profiles of major companies, including their market shares and projects.
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