Pune, India -- (SBWIRE) -- 01/22/2020 -- A recent report published by Infinium Global Research on Neoprene Market (Manufacturing Route - Butadiene Route, and Acetylene Route; Grade - General-purpose Grade Neoprene, Pre-crosslinked Grade Neoprene, Sulfur-modified Grade Neoprene, and Slow Crystallizing Grade Neoprene; Application - Technical Rubber, Adhesives Industry, and Latex Industry; End User - Automotive, Manufacturing, Consumer Goods, and Medical): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025. According to the report, the global neoprene market is projected to grow at a CAGR of 4.1% over the forecast period of 2019-2025.

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Increasing Consumer Disposable Income is the Other Factor Boosting the Growth of the Industry

The rise in health awareness among people and an increase in fitness interest among users are the major drivers driving the growth of the neoprene market across the globe. Numerous advantages offered by neoprene fabric such as quick-drying, high stretchability, thermal resistance, and chemical resistance and enhanced comfort drive the growth of the global neoprene fabric market across the globe. Increasing consumer disposable income is the other factor boosting the growth of the market.

Furthermore, the increase in participation of people in sports activities also fuels the sales of overall performance wear including neoprene fabric outfits, which in turn boosts the market growth. On the other hand, the increase in the number of promotional activities is expected to create product and brand awareness, which in turn accelerates the market growth.  However, the unstable cost of raw materials and the high cost of designing may restrain the growth of the global neoprene market. The growing demand for neoprene across different industries is expected to create an opportunity for the growth of the neoprene market in the upcoming years.

Neoprene Market: Segmentation

The global neoprene market is segmented based on manufacturing route, grade, application, and end-user. In terms of the manufacturing route, the global market is fragmented into the butadiene route and the acetylene route. Based on grade, the neoprene market is divided into general-purpose grade neoprene, pre-crosslinked grade neoprene, sulfur-modified grade neoprene, and slow crystallizing grade neoprene. In terms of application, the market is segmented into Technical Rubber, adhesives industry, and latex industry. Based on the end-user, the market is bifurcated into automotive, manufacturing, Consumer Goods, and medical.

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Europe is Expected to Grow at a Beneficial Rate

Geographically, the neoprene market is divided into North America, Europe, Asia Pacific, and the Rest of the World. Among all the regions, the Asia Pacific region holds the maximum share of the market and is expected to dominate the market over the forecast period.

This is credited to the high demand from the automotive industry. India, China, and Japan are the major producers and consumers for neoprene in the Asia Pacific region. Japan is leading the market share in the Asia Pacific region. North America is anticipated to grow at a faster rate in the neoprene market over the projection period due to technological advancements in the region. The neoprene market in Europe is expected to grow at a beneficial rate owing to the global rise in the construction and automotive industry.

Neoprene Market: Mojar Key Player

The global neoprene market comprises of players such as Pidilite Industries, TuHuang Chemical Co., Covestro AG, Shanxi Synthetic Rubber Group Co Ltd., Lanxess, Tosoh Corporation, Zenith Rubber, Ltd, BGK GmbH Endlosband, 3M, Polymers Co., and Denka Company limited.

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About Infinium Global Research
The Infinium Global research comprises of a team of well-experienced analysts who have qualified in generating incisive reports. The neoprene market report offers trends, opportunities, challenges, market size, and forecast for major geographical regions and key countries. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the neoprene market.