(MENAFNEditorial)
Fast Market Research announces the availability of Technavio's new report "Global Chloroprene Rubber (CR) Market 2015-2019" on their comprehensive research portal.
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.
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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.
The key players in the Global Chloroprene Rubber (CR) Market are Asahi kasei Chemicals Chongqing Changshou Chemical Denka Dupont Lanxess and Showa Denko while other prominent vendors include China Bluestar New Chemical Materials Chongqing Longevity Chemical Nairit Plant and Zenith Industrial Rubber Products
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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