In Asia, neoprene rubber prices surged in Q1 until February but declined in March due to a pricing war initiated by Tesla’s entry into the automotive sector. Local manufacturers lowered automotive prices, causing destocking, and impacting neoprene rubber prices negatively. Q2 saw a recovery, with increased neoprene rubber demand from the tire, pharmaceutical, and automotive sectors, alongside rising industrial activity. In Europe, Q1 prices grew with increased downstream industry demand and recovering sectors, but Q2 saw a gradual fall due to lost industrial momentum and declining energy and production costs. In North America, neoprene rubber prices fluctuated, rising initially with automobile sector recovery and semiconductor influx, but Q2 suffered from bank closures, inflation, interest rates, and semiconductor shortages.
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Definition
Neoprene rubber exhibits water resistance, insulation, and durability, making it ideal for wetsuits, diving gear, and water sports equipment. Its resistance to oils and chemicals enables its use in industrial seals, gaskets, and automotive components. Neoprene rubber’s heat resistance and electrical insulation properties make it suitable for electrical cables and harnesses. Its cushioning and flexibility qualities find applications in sports gear and protective equipment. Moreover, neoprene rubber’s adhesive nature makes it valuable for laptop sleeves and consumer goods.
Key Details About the Neoprene Rubber Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Neoprene Rubber in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Neoprene Rubber Price forecast, including India Neoprene Rubber price, USA Neoprene Rubber price, pricing database, and chart can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Neoprene Rubber Price Trend:
Neoprene rubber’s versatility lends itself to a range of industrial applications. It is extensively used in the production of wetsuits, drysuits, and diving gear due to its water resistance and insulation properties. In the automotive sector, neoprene rubber is employed for manufacturing hoses, seals, gaskets, and vibration-damping components. Its durability and resistance to oils make it valuable for industrial seals and gaskets. Neoprene rubber’s heat resistance finds applications in electrical insulation, cable jackets, and wiring harnesses. It’s used in sports equipment like gloves, footwear, and protective gear. Furthermore, neoprene rubber’s cushioning qualities make it suitable for laptop sleeves, footwear, and various consumer goods.
Key Players:
- Denka Company limited.
- Resonac Holdings Corporation
- Tosoh Corporation
- ARLANXEO
- China National Bluestar (Group) Co Ltd
News and recent development:
The Environmental Protection Agency (EPA) and the US Department of Justice are suing Denka Performance Elastomer on the grounds that the company’s emissions of chloroprene from its neoprene rubber manufacturing facility in LaPlace, Louisiana, pose an unacceptable cancer risk to the neighborhood. The DOJ wants to compel Denka to significantly reduce the plant’s dangerous emissions.
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