Chloroprene rubber, neoprene, or polychloroprene rubber, is a synthetic rubber produced through Chloroprene's polymerization. According to BlueQuark Research & Consulting, the Global Chloroprene market is expected to witness considerable growth during the forecasted period. Factors such as the augmented demand from the rubber industry, as they are worn as a raw material for adhesives and different latex applications, are expected to drive the need for the chloroprene market in the forecasted period. Further, the construction and automotive industry is increasing the consumption of coatings and sealants are expected to drive the need for the chloroprene market in the forecasted period. Furthermore, the electronic sector is expanding its demand for neoprene rubber because of its various attributes, such as lightweight, dielectric capabilities, high-temperature resistance, and high impact qualities are expected to drive the need for the global chloroprene rubber market in the forecasted period. However, the rapid adoption of alternative rubber products such as natural rubber, styrene-butadiene rubber, and isoprene are essential restrictions on the worldwide chloroprene rubber industry in the forecasted period.

The usage of Chloroprene rubber in cables, conveyor belts, molded goods, and transmission belts is predicted to increase the global market for Chloroprene significantly over the forecasted period.

Adhesives dominate the Global Chloroprene market, and this is due to the increasing consumption of coatings and bonds in the construction and automotive industry. However, industrial rubber products, including belts, gaskets, and hoses, are projected to be the fastest-growing application segment due to the rising global demand from the manufacturing industry. Chloroprene rubber is characterized by its unique properties, such as high mechanical strength, low flammability, high weather & ozone resistance, excellent chemical resistance, aging resistance, moderate fuel & oil resistance, and adhesion to many substrates, which makes it exclusive among artificially manufactured elastomers. Polychloroprene is a kind of synthetic rubber. The prime properties of this synthetic rubber are high flexibility, heat resistance, perspiration, solvent resistance, bond to various substrates, and weather aging. Chloroprene rubber is used in many applications, such as rubber and adhesive industries. Chloroprene rubber is employed to produce dipped articles such as gloves, improve bitumen quality, and manufacture molded foam. Chloroprene rubber production is utilized in the rubber industry for products such as molded goods, cables, transmission, and conveyor belts. About one-third of chloroprene rubber production is used as a raw material for adhesives (solvent- and water-based). The balance of chloroprene rubber manufacturing has different latex applications like dipped articles (e.g., gloves), molded foam and a rubber modifier for improved performance in asphalt products. Significant demand for polychloroprene rubber is witnessed in China, Japan, and the U.S. China has a high consumption of chloroprene rubber. Its utilization has surged due to the rise in the number of manufacturing industries in the country. Developing countries in the Asia Pacific, Latin America, and Eastern Europe witnessed robust demand for Chloroprene. Economic growth, increasing automotive output, and the emergence of manufacturing industries in these regions have led to the higher consumption of chloroprene rubber.

The Asia-Pacific region is anticipated to dominate the Global Chloroprene market. Surging demand in diverse automotive and industrial component applications, rising population, and rapid industrialization in the area are expected to propel the Chloroprene market further. The chloroprene rubber market can be segmented into industrial maintenance, food, automotive, sealing and bearings. Chloroprene rubber is employed broadly in industrial applications as hoses and belts in automotive, architectural rubber products, and general industrial materials. Earlier, the application of chloroprene rubber was limited to electrical wires and adhesives. However, the market has changed dramatically and presently experiences considerable demand from the automobile and industrial sectors. New technology development for replacing smoked rubber extinction with vulcanization in the chloroprene manufacturing process has also led to the extension of the North American and Europe markets. The usage of optical fiber cables in the telecommunication industry is expected to drive the demand for cable jackets. Due to its various characteristics, including dielectric capability, high-temperature resistance, low weight, and high impact quality, the electrical & electronic industry has a surging demand for chloroprene rubber. The need for chloroprene rubber from the electronic industry is increasing due to its various properties such as lightweight, dielectric properties, high-impact qualities and high-temperature resistance. Rapid urbanization and the economic surge in the emerging countries of Asia-Pacific are predicted to boost the demand for chloroprene rubbers for usage in construction composites. Chloroprene rubber shows toughness and excellent resistance to abrasion, fuels, chemicals, and flame, which make it suitable for manufacturing tire sidewalls, O rings, fan belts, and automotive trims. The increasing need for Electric Vehicles (EVs) and the rising disposable revenue levels are anticipated to fuel the product need during the forecasted period. Chloroprene rubber has demand in end-use industries such as rubber and adhesive industries. Chloroprene rubber is also utilized to manufacture dipped articles such as gloves, to improve bitumen quality and manufacture molded foam. In the textile industry, polychloroprene is combined with additives to surge elasticity or highlight other traits. The evenly distributed gas bubbles in neoprene offer exceptional thermal insulation properties. This variant of chloroprene rubber is widely used in manufacturing immersion suits for water sports like diving and surfing. 

In August 2019, Tosoh Corporation proposed increasing chloroprene rubber production capacity (Skyprene) at its Shunan City, Yamaguchi Prefecture, Japan. 

The Global Chloroprene market is highly fragmented. Major market companies were DuPont Performance Elastomers, Asahi Kasei Chemicals Corporation, The Dow Chemical Company, Denka Group, Lanxess AG, and Maclellan Rubber Ltd, among others. 

The Global Chloroprene Market report provides deep insight into the Chloroprene market's current and future state across various regions. The study comprehensively analyzes the Chloroprene market by segmenting based on Grade (Linear, Crystallizing Resistance, Sulfur Modified, and Others), Application (Wires & Cables, Coatings & Adhesives, Hoses & Tubes, and Other Applications), End-user Industry (Automotive, Electronics, Construction, Furniture, Textile, and Other End-user Industries), and Geography (Europe, Asia-Pacific, North America, South America, and Middle-East & Africa). The report examines the market drivers and restraints, along with the impact of Covid-19 on the market growth, in detail. The study covers & includes emerging market size, trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with profiles of prominent companies, including their market shares and projects.