Europe Neoprene Market to Reach US$ 426.6 Million by 2032, Stimulated by Significant Growth in Automotive Sector

August 22, 2023 | Chemical & Materials

According to the latest report by IMARC Group, titled “Europe Neoprene Market Report by Manufacturing Route (Butadiene Route, Acetylene Route), Grade (General-Purpose Grade Neoprene, Pre-Crosslinked Grade Neoprene, Sulfer-Modified Grade Neoprene, Slow Crystallizing Grade Neoprene), Application (Technical Rubber, Adhesives Industry, Latex Industry), End User (Automotive, Manufacturing, Consumer Goods, Medical), and Country 2024-2032,” the Europe neoprene market size reached US$ 360.4 Million in 2023. Neoprene, also known as polychloroprene, is a type of synthetic rubber that exhibits excellent chemical stability and flexibility for a wide range of temperatures. This durable, versatile material is well-regarded for its high tensile strength, oil and heat resistance, and ability to withstand degradation from sun, ozone, and weather. It's commonly utilized in a myriad of applications, ranging from automotive parts and industrial hoses to protective gear and clothing, such as wetsuits, gloves, and orthopedic braces. As a water-resistant material with superior insulation properties, neoprene is also found in products, including laptop sleeves, orthopedic braces, and electrical insulation. Its adaptability and resilience have earned neoprene a crucial role across several sectors, making it a highly valuable material in the global market.

Europe Neoprene Market Trends:

The robust demand from the automotive sector majorly drives the market in Europe. This can be supported by the rising adoption of neoprene in manufacturing components, such as hoses, belts, and gaskets, due to its heat, oil, and weather resistance properties. As the European automotive industry continues to expand, the demand for neoprene accelerates. Along with this, the rise in infrastructure development across the continent is bolstering the demand for neoprene in the construction industry, where it's used for applications including window and door seals. In addition, the increasing consumer awareness regarding safety and the high demand for protective gear and clothing is fueling the market growth. Apart from this, the advent of bio-based and sustainable alternatives to conventional neoprene aligns with Europe’s progressive environmental regulations and is stimulating market expansion. Furthermore, the trend of eco-friendly innovation, coupled with the escalating demand from various end-use industries, is creating a positive market outlook. Some of the other factors driving the market include changing consumer preferences and advancements in manufacturing. Looking forward, the market value is projected to reach US$ 426.6 Million by 2032, expanding at a CAGR of 1.83% during 2024-2032.

Market Summary:

  • Based on the manufacturing route, the market has been segmented into butadiene and acetylene routes.
  • On the basis of the grade, the market is segregated into general-purpose, pre-crosslinked, sulfer-modified, and slow crystallizing grade neoprenes.
  • Based on the application, the market has been segmented into technical rubber, adhesives industry, and latex industry.
  • On the basis of the grade, the market is segregated into automotive, manufacturing, consumer goods, and medical.
  • Country-wise, the market has been segmented into Germany, France, the United Kingdom, Italy, Spain, and others.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Million
Scope of the Report Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
  • Manufacturing Route
  • Grade
  • Application
  • End User
  • Country
Manufacturing Routes Covered Butadiene Route, Acetylene Route
Grades Covered General-Purpose Grade Neoprene, Pre-Crosslinked Grade Neoprene, Sulfer-Modified Grade Neoprene, Slow Crystallizing Grade Neoprene
Applications Covered Technical Rubber, Adhesives Industry, Latex Industry
End Users Covered Automotive, Manufacturing, Consumer Goods, Medical
Countries Covered Germany, France, United Kingdom, Italy, Spain, Others
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3699
Five User License: US$ 4699
Corporate License: US$ 5699
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Europe Neoprene Market to Reach US$ 426.6 Million by 2032, Stimulated by Significant Growth in Automotive Sector
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