According to IMARC Group latest report titled” Asia Pacific Neoprene Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market is currently witnessing strong growth. The Asia Pacific Neoprene Market to exhibit moderate growth during the next five years.
Neoprene refers to a synthetic rubber that is artificially produced by free radical polymerization of chloroprene. It is an excellent insulator as it offers aversion against heat, oil and water. As compared to synthetic compounds, like natural rubber, neoprene offers high resistance to damage caused by cuts, twisting, abrasion and flexing. It does not degrade in the sun or ozone and provides optimum adhesion to metals and fabrics.
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Rapid industrialization is a major factor driving the Asia Pacific neoprene market growth. The increasing establishment of tire manufacturing units and the flourishing automotive sector are further propelling the market growth in the region. Moreover, increasing construction activities, especially in residential and commercial sectors, is propelling the market growth. Other factors, such as an overall economic growth across the region and significant investments in the research and development (R&D) activities, along with increasing utilization of neoprene in the medical industry, are creating a positive outlook for the market.
Asia Pacific Neoprene Market Segmentation:
Our report has categorized the market based on Country, Manufacturing Route, Grade, Application and End User.
Market Breakup by Manufacturing Route:
- Butadiene Route
- Acetylene Route
Market Breakup by Grade:
- General-Purpose Grade Neoprene
- Pre-Crosslinked Grade Neoprene
- Sulfer-Modified Grade Neoprene
- Slow Crystallizing Grade Neoprene
Market Breakup by Application:
- Technical Rubber
- Adhesives Industry
- Latex Industry
Market Breakup by End User:
- Consumer goods
Market Breakup by Country:
- South Korea
Explore full report with table of contents: https://bit.ly/3wygT9H
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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