Industry and News Chloroprene Rubber (CR) Market | Seite 2

extensively used in cables, molded goods, transmission belts and conveyor belts. Increasing demand
for these products across the manufacturing sectors is expected to boost the market demand for
chloroprene rubber over the next eight years.
Increasing automotive industry in emerging economies including India, China, and Thailand.
Growing presence of several tire manufacturing facilities coupled with high economic growth
regions including Asia and Latin America are expected to steer the rubber consumption over the
forecast period. Natural rubber and synthetic rubber are estimated to act as substitutes owing to
their properties related to chloroprene rubber. Hence these factors are expected to restrain the
market growth over the forecast period. Rising thermoplastic elastomers (TPE) consumption due to
its low production cost and wide applications is estimated to hinder the market growth.
Asia Pacific is estimated to be the fastest and largest growing market globally for chloroprene
rubber on account of increasing demand from major regions such as China, India and Thailand in
several industrial and automobile product applications. Europe and North America are expected to
witness substantial growth rate following Asia Pacific owing to rapid industrialization and increasing
population over the next eight years. Expansion and investment in R&D particularly in substituting
smoked rubber suppression technique along with vulcanization in chloroprene production
procedures owing to various benefits such as retention of nonabsorbent properties and elastic
memory estimated to offer high growth opportunities to key industry players.
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On the basis of application the global market has been segmented into adhesives, automobiles, and
industrial rubber. Chloroprene rubber is being used in coatings, binders, hoses, belts and electric
wire in automobile components, construction, window seals, and architectural rubber products,
general and industrial material. Adhesives application segment of the chloroprene rubber market is
expected to attain major share of the global demand over the next eight years on account of
increasing demand of these materials in automotive and construction industry. However, industrial