United States Neoprene Market

Market Overview:

The United States Neoprene Market size reached US$ 265.3 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 305.2 Million by 2028, exhibiting a growth rate (CAGR) of 2.3% during 2023-2028.

Neoprene is a synthetic rubber artificially produced from butadiene through chlorination, isomerization and dehydrochlorination. It is widely used as a substitute for natural latex rubber due to its high-temperature resistance and protection against oxidizing agents. It also offers high tensile strength and ozone resistance. Consequently, it finds extensive applications in various industry verticals, such as automotive, medical, consumer goods and construction.

The increasing population, along with the escalating demand for neoprene from different end use industries to produce customized and efficient products, is strengthening the market growth. For instance, it is widely used in the automotive and construction industries for manufacturing window seals and gaskets, power transmission belts, and shock absorber seals. However, the sudden surge in the coronavirus disease (COVID-19) patients has resulted in lockdowns by the Federal Government of the United States. It has negatively impacted the market growth on account of the temporary closure of various manufacturing units and halt in international trade. The market is anticipated to recover once lockdown relaxations are introduced.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the United States neoprene market report, along with forecasts at the country and regional levels from 2023-2028. Our report has categorized the market based on manufacturing route, grade, application and end user.

Breakup by Manufacturing Route:

• Butadiene Route
• Acetylene Route
   

Breakup by Grade:

• General-Purpose Grade Neoprene
• Pre-Crosslinked Grade Neoprene
• Sulfer-Modified Grade Neoprene
• Slow Crystallizing Grade Neoprene
   

Breakup by Application:

• Technical Rubber
• Adhesives Industry
• Latex Industry
   

Breakup by End User:

• Automotive
• Manufacturing
• Consumer goods
• Medical
   

Breakup by Region:

• Northeast
• Midwest
• South
• West
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Report Coverage:

Key Questions Answered in This Report:

• How has the United States neoprene market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the United States neoprene market?
• What are the key regional markets?
• What is the breakup of the market based on the manufacturing route?
• What is the breakup of the market based on the grade?
• What is the breakup of the market based on the application?
• What is the breakup of the market based on the end user?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the United States neoprene market and who are the key players?
• What is the degree of competition in the industry?