Chloroprene Rubber Market Size to Worth USD 1.68 billion by 2033 | Straits Research

The global chloroprene rubber market size was valued at USD 1.16 billion in 2024 and is estimated to reach from USD 1.21 billion in 2025 to USD 1.68 billion by 2033, growing at a CAGR of 4.2% during the forecast period (2025–2033).

/EIN News/ -- New York, United States, Jan. 22, 2025 (GLOBE NEWSWIRE) -- The monomer required to create the polymer polychloroprene is chloroprene, an invisible liquid. Colourful synthetic rubber called polychloroprene is available. The primary properties of this synthetic rubber include high elasticity, solvent, heat, perspiration, adhesion to various surfaces, and weather ageing. Chloroprene rubber (CR), also referred to as Neoprene, was one of the first synthetic rubbers to be oil-resistant. It has excellent physical and chemical properties and is solid all-around rubber.

On the other hand, its resistance to petroleum-based oils and fuels is only moderate. Chloroprene rubber is used in various industrial items, such as automobile hoses and belts, rubber products for the construction industry, and fundamental industrial parts. Chloroprene rubber was previously only utilized in adhesives and electrical lines. However, the market has significantly changed, and there is a great demand for industrial goods and automotive parts.

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Market Dynamics                                          

Industrial and commercial use of chloroprene rubber fuels market expansion.

Chloroprene rubber, the trade name for Neoprene, is called all-purpose rubber because of its mechanical properties. Despite being pricey, chloroprene rubber remains a popular elastomer. Since it is so flexible and pliable, chloroprene rubber is commonly used in outdoor and interior products. Insulation, gaskets, hoses, springs, belts, flexible mounts, shoe bottoms, and adhesives are just a few of the applications for chloroprene rubber. Abrasion, oil, heat, and flame are not a problem for the elastomer. Chloroprene rubber resists ozone, weathering, acids, oils, water, greases, and inorganic salts, making it ideal for outdoor applications like corrosion-resistant coatings or landfill linings. Chloroprene rubber sheets are utilized as transformer noise insulation and adhesive bases. Chloroprene rubber's fire resistance makes it perfect for fire door weather stripping. Chloroprene rubber protects machinery, computer pads, and car hoods. These boost the chloroprene rubber market.

Increasing use of chloroprene rubber in vehicle production and construction

Increased vehicle production, economic growth, and tire manufacturing facilities in Latin America and Asia are all expected to increase the demand for rubber. The projection period is projected to see a decline in the use of synthetic rubber as thermoplastic elastomers (TPEs) become more popular due to low production costs and novel applications.

Chloroprene rubber is commonly used in binders, coatings, electric wire, hoses, belts, and architectural rubber goods, in addition to typical industrial materials, construction, and window seals. The adhesives application segment of the chloroprene rubber market is anticipated to account for a sizeable portion of overall demand during the forecast period.

Growth opportunities for the global chloroprene rubber market

Increased demand for latex and high-quality rubber sheets are creating growth opportunities in the market. Chloroprene rubber has strong chemical stability and thermal flexibility, allowing for product-specific compounding. Increasing investments in R&D have resulted in high-quality chloroprene rubber compounds that can be used in dip-moulded products for dental, medical, sports & leisure, automotive, and other industries. Medical and automotive industries use it for its elastic metal bonding ability. Synthetic chloroprene rubber is latex-free, making it appropriate for emergency medical products. Due to latex sensitivity, there is a growing need for chloroprene rubber sport shoe soles, generating new prospects for manufacturers. Due to increased demand for synthetic rubber sheets and latex, several countries are spending extensively on chloroprene rubber production and development. Recently, chloroprene rubber has been used to make face masks because it can filter out particles smaller than COVID-19, creating manufacturing potential for market leaders.

Regional Analysis

The global market for chloroprene rubber is broken down into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa based on the region.

Asia-Pacific dominated the market share for chloroprene rubber. It is a result of China's expanding demand for various industrial and automotive component applications. Due to expanding population and rapid industrialization throughout the projected period, North America and Europe are anticipated to have considerable growth following the Asia-Pacific. The market for chloroprene has grown in North America and Europe due to the introduction of new technology that replaces smoked rubber suppression with vulcanization in the manufacturing process.

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Key Highlights

• The global market for chloroprene rubber was valued at USD 1036 million in 2021, and it is anticipated to reach USD 1577.12 million by 2030 at a CAGR of 4.78%.
• The global chloroprene rubber market is broken down into three parts: product, end user, and region. Further, the market is divided into sponge/foam, sheet, and latex based on product. According to end-user, the market is categorized into automotive, building & construction, textiles, electrical & electronics, and others.
• The market is broken down into North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa based on the region. Asia-Pacific dominated the market.

Competitive Players

1. DuPont Performance Elastomers
2. Showa Denko K.K.
3. Denka Group
4. Shanxi Synthetic Rubber Group Co. Ltd.
5. Chongqing Longevity Salt and Chemical Co. Ltd.
6. Lanxess AG
7. Tosoh Corporation
8. Nairit Plant CJSC
9. Zenith Industrial Rubber Products Pvt. Ltd.
10. Asahi Kasei Chemicals Corporation
11. Dow Chemical Company.
12. ARLANXEO
13. SEDO Chemicals Neoprene GmbH
14. Qingdao Nova Rubber

Recent Developments

• In March 2022, the EPA denied the request made by DENKA to have the assessment of chloroprene lowered.
• On 16^th May 2022, Chloroprene rubber prices at Showa Denko increased by JPY60/kg or more, equivalent to US$470/m.t. or more for transactions denominated in US dollars and EUR440/m.t. or more for transactions denominated in euros.

Segmentation

By Product

• Sheet
• Sponge/Foam
• Latex

By End-User

• Automotive
• Textiles
• Electrical & Electronics
• Building & Construction
• Others

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East & Africa

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