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 trend, 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 perfect for a variety of industrial uses. It’s a key material in crafting wetsuits, drysuits, and diving equipment due to its ability to repel water and provide insulation. In the automotive industry, neoprene is crucial for making hoses, seals, gaskets, and components that reduce vibrations. Its resilience against oils makes it ideal for industrial seals and gaskets. Additionally, its capacity to withstand heat makes it valuable for electrical insulation, cable jackets, and wiring harnesses. It’s also a staple in sports gear like gloves, footwear, and protective wear. Moreover, its cushioning properties suit it well for laptop sleeves, footwear, and numerous consumer products.
Key Players:
- Denka Company limited.
- Resonac Holdings Corporation
- Tosoh Corporation
- ARLANXEO
- China National Bluestar (Group) Co Ltd
News and recent development:
The EPA and the US Department of Justice have filed a lawsuit against Denka Performance Elastomer, citing concerns about the company’s chloroprene emissions from its neoprene rubber plant in LaPlace, Louisiana. They argue that these emissions present an intolerable cancer risk to the local community. The DOJ aims to enforce substantial reductions in the plant’s hazardous emissions.
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