PUNE, India, July 26, 2016 /PRNewswire/ —
The global neoprene market 2016-2020 research report says a trend which is expected to boost market growth is shifting of production to APAC. Demand for fuel-efficient tires has increased due to the rise in environmental issues as well as modifications in the labeling regulations for tires in Japan and the European Union. By an increase in production capacity, neoprene manufacturers are able to meet this demand and introduce production lines to manufacture other grades of the product. Many neoprene manufacturers based in Europe are setting up production plants in APAC because of the low cost of production.
Complete report on neoprene market spread across 75 pages, analyzing 5 major companies and providing 54 data exhibits now available at http://www.sandlerresearch.org/global-neoprene-market-2016-2020.html.
The analysts forecast global neoprene market to grow at a CAGR of 5.53% during the period 2016-2020. According to the 2016 neoprene market report, a key growth driver is the rising demand from emerging countries. The demand for neoprene in emerging economies will increase at a steady pace during the forecast period. APAC is the largest consumer of neoprene, and China is one of the leaders in neoprene production and consumption. The neoprene 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 driven by the demand from the automotive and construction industries during the forecast period.
Neoprene 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 as an adhesive in the automotive, construction, and cable and wire industries. APAC dominates the global neoprene 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 products in this region.
One of the latest trends gaining grounds in neoprene market is the growing use of sulfur-modified grades. Sulfur-modified grades are used in components that remain unprotected and are susceptible to dynamic stress such as driving belts, timing belts, and conveyor belts due to their excellent mechanical properties. These grades are vulcanized to make them more durable and less resistant to aging. Sulfur copolymer with good crystallization resistance are increasingly being used in building tracks owing to the presence of neoprene in it, which is used extensively for friction materials
The following companies are the key players in the global neoprene market: Chongqing Changshou Chemical, Denka, LANXESS, Shanxi Synthetic Rubber Group, and Tosoh. Other prominent vendors in the market are: Mitsui and Showa Denko. Order a copy of Global Neoprene Market 2016-2020 report @ http://www.sandlerresearch.org/purchase?rname=56646.
Global Neoprene Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. This report covers the present scenario and the growth prospects of the global neoprene market for 2016-2020.
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