Research and Markets has added “Global Chloroprene Rubber (CR) Market 2015-2019” report to their offering.
In December 2014, a definitive agreement was signed between Denka and DuPupont 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 anti dumping duties on China-produced tires in the US.
Furthermore, 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 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.