In the Asian market, neoprene rubber prices initially surged in Q1 until February but then took a downturn in March due to a price competition triggered by Tesla’s entry into the automotive sector. This led to local manufacturers lowering automotive prices, causing destocking and having a negative impact on neoprene rubber prices. However, in Q2, there was a rebound with increased demand for neoprene rubber from the tire, pharmaceutical, and automotive sectors, along with a rise in industrial activity. In Europe, Q1 witnessed price growth due to increased demand from downstream industries and recovering sectors, but Q2 saw a gradual decline due to a loss of industrial momentum and falling energy and production costs. In North America, neoprene rubber prices fluctuated, initially rising with the recovery of the automobile sector and an influx of semiconductors. However, Q2 faced challenges with bank closures, inflation, interest rates, and semiconductor shortages.
Definition
Neoprene rubber boasts water resistance, insulation, and durability, rendering it versatile for wetsuits, diving gear, and water sports equipment, as well as for industrial seals, gaskets, and automotive components due to its resistance to oils and chemicals. Its heat resistance and electrical insulation properties make it an ideal choice for electrical cables and harnesses, while its cushioning and flexibility characteristics make it well-suited for sports gear and protective equipment. Additionally, its adhesive nature lends itself to applications like 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 chart, including India Neoprene Rubber price, USA Neoprene Rubber price, pricing database, and analysis 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 adaptability makes it a versatile material with a wide range of industrial uses, from wetsuits and diving gear due to its water resistance and insulation, to automotive hoses, seals, gaskets, and vibration-damping components for its durability and oil resistance. It also serves in electrical insulation, cable jackets, and wiring harnesses owing to its heat resistance. Additionally, neoprene rubber is employed in sports equipment such as gloves, footwear, and protective gear, and its cushioning properties make it ideal for applications like laptop sleeves 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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