Global Market for Chloroprene Rubber to Reach 445.3 Thousand Metric Tons by 2017, According to a New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Chloroprene Rubber. Global market for chloroprene rubber is forecast to reach 445.3 thousand metric tons by the year 2017, driven by increasing demand from end-use industries such as industrial rubber products, adhesives and automobiles. Developing markets such as Asia-Pacific and Latin America are slated to display strong preference for chloroprene rubber in varied industrial and automobile components applications. The market faces intense competition from natural rubber and other synthetic rubber alternatives.

Chloroprene Rubber: A Global Strategic Business Report

Chloroprene rubber is the most prominent material among various grades of rubber. The product is extremely versatile and can be treated with organic peroxides. Various characteristic features of chloroprene rubber such as high elasticity, resistance to solvents, heat, ozone, weather ageing and perspiration make it one of the well sought after synthetic rubber varieties. Chloroprene rubber is widely used as hoses and belts in motor vehicle components, as electric wire, as architectural rubber product, and as general industrial materials. Earlier, this grade of rubber was primarily used in electric wire and adhesives, but it now witnesses steep demand for a wide range of applications including industrial products and automobile components, especially in Asia.

China, Japan and US are the leading consumers of rubber worldwide. China, in particular, is the epicenter of growth, owing to robust growth in domestic manufacture of industrial goods and motor vehicles. Countries in eastern and central Europe, Asia-Pacific and Latin America have emerged as the major hubs for synthetic rubber consumption. Steady economic growth, increasing vehicular production, and rising number of tire plants in Asia and Latin America are promoting higher consumption. The Synthetic Rubber market continues to dominate global rubber consumption, with general-purpose synthetic elastomers, such as styrene-butadiene rubber, polybutadiene rubber, and polyisoprene rubber expected to account for a substantial proportion of the demand. The industry maintains economies of scale in the form of specialization, technological factors and cheap labor among others.

The rubber industry has undergone a sea change in terms of manufacturing processes and applications. Vulcanization has replaced smoked rubber suppression in the manufacture of rubber. Synthetic and natural rubber are usually subjected to wide price fluctuations, with at least one out of the two types expected to be less expensive compared to the other at a particular place and over a given point of time. Such price variations between synthetic and natural rubber materials are causing several buyers to substitute one with the other form depending on their relative price changes. A key trend in the market is the emergence of thermoplastic elastomers (TPEs), which have superseded conventional rubber in a big way. Growth in consumption is primarily driven by low production costs and new uses such as overmolded soft touch application. Demand for TPEs in major end-use markets is expected to grow at the expense of conventional elastomers. Consumption of industrial rubber products is likely to increase in various sectors such as construction, aerospace, mining and forestry, OEMs, replacement, household appliances, computer and office equipment.

Worldwide rubber consumption witnessed a steep decline in 2009 compared to the previous year, primarily due to the impact of global economic recession on the automotive industry. Scaling down of production by global car manufacturers, and closure of numerous factories due to falling demand contributed to a significant fall in demand for both synthetic and natural rubber. With the global economic recession crippling automotive and construction sectors, impact is also evident on traditionally strong growth sectors of Acrylonitrile Butadiene Styrene (ABS), Styrene-Butadiene Rubber (SBR), and expandable polystyrene (EPS). The sliding demand for rubber also impacted its pricing, with both synthetic and natural rubber prices witnessing significant erosions.

Asia-Pacific, powered by surging demand from China, dominates as the single largest market, as stated by the new research report on Chloroprene Rubber. Europe and North America trail behind as the other major markets for chloroprene rubber on a global basis. The Asia-Pacific region is also slated to race ahead as the fastest growing market at a compounded annual rate of more than 3.0% through 2017. The Adhesives end-use application market captures the largest share of overall chloroprene rubber demand. However, with respect to fast track growth potential, the market for industrial rubber products is projected to forge ahead at the strongest CAGR over the period 2009-2017.

Key participants profiled in the report include Asahi Kasei Chemicals Corporation, Denka Group, Dow Chemical Company, DuPont Performance Elastomers, Lanxess AG, Showa Denko K.K., Tosoh Corporation, Chongqing Longevity Chemical Co., Ltd., Nairit Plant CJSC, China Bluestar New Chemical Materials Co., Ltd., Shanxi Synthetic Rubber Group Co., Ltd, and Zenith Industrial Rubber Products Pvt. Ltd.

The research report titled “Chloroprene Rubber: A Global Strategic Business Report”, announced by Global Industry Analysts, Inc., provides a comprehensive review of and profiles of market players worldwide. Analysis and overview is provided for major geographic markets such as North America, Japan, Europe, Asia-Pacific and Rest of World. Market analytics are provided in volume (metric tons) terms for end-use application segments including Industrial Rubber Products, Adhesive, Automobile Products and Other Applications. The study also provides historic data for an insight into market evolution over the period 2003 through 2008.

For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Chloroprene_Rubber_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
E-mail: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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