In Asia, neoprene rubber prices rose sharply in the first quarter until February. However, they dropped in March because of a pricing battle triggered by Tesla’s entry into the automotive sector. Local manufacturers slashed automotive prices, leading to destocking and a negative impact on neoprene rubber prices. The second quarter showed a rebound, driven by increased demand for neoprene rubber from the tire, pharmaceutical, and automotive industries, coupled with a rise in industrial activity.
Meanwhile, in Europe, prices grew in the first quarter due to heightened demand from downstream industries and sectors making a recovery. However, the second quarter witnessed a gradual decline as industrial momentum was lost, and energy and production costs decreased.
In North America, neoprene rubber prices were volatile. They initially rose with the recovery of the automobile sector and an influx of semiconductors. However, the second quarter was affected by bank closures, inflation, rising interest rates, and shortages of semiconductors.
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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 trends, 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 go-to material across multiple industries. Its water resistance and insulation qualities make it perfect for crafting wetsuits, drysuits, and diving gear. In the automotive field, neoprene is key in producing hoses, seals, gaskets, and parts that reduce vibration. Its durability and resistance to oils make it a top choice for industrial seals. Neoprene’s ability to withstand heat is crucial for electrical insulation, cable jackets, and wiring harnesses. It’s also a staple in sports gear such as gloves, footwear, and protective wear. Additionally, its cushioning abilities make it ideal for laptop sleeves, various consumer goods, and more.
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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