Neoprene Rubber Price History and Forecast Analysis | Procurement Resource

Neoprene Rubber Price History and Forecast Analysis | Procurement Resource

The first quarter in Asia witnessed a surge in neoprene rubber prices, peaking until February, but faced a decline in March triggered by a pricing conflict initiated by Tesla’s foray into the automotive sector. Local manufacturers reacted by reducing automotive prices, leading to destocking and a subsequent negative impact on neoprene rubber prices. However, a recovery was observed in the second quarter, buoyed by increased demand from the tire, pharmaceutical, and automotive sectors, coupled with a rise in overall industrial activity.

Meanwhile, in Europe, neoprene rubber prices experienced growth during the first quarter, driven by heightened demand from downstream industries and sectors on the path to recovery. However, the second quarter witnessed a gradual decline due to a loss in industrial momentum and decreasing energy and production costs.

Conversely, in North America, neoprene rubber prices displayed fluctuations. Initially, they ascended in conjunction with the recovery of the automobile sector and an influx in semiconductor demand. However, the second quarter was marked by challenges stemming from bank closures, inflationary pressures, interest rate fluctuations, and shortages in semiconductor supply, impacting the stability of neoprene rubber prices.

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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 spans across a wide spectrum of industrial uses. Its exceptional water resistance and insulating properties render it a prime material for crafting wetsuits, drysuits, and diving gear. Within the automotive realm, neoprene rubber serves in the production of hoses, seals, gaskets, and components adept at dampening vibrations. Its robustness and resistance to oils elevate its significance in creating industrial seals and gaskets. Moreover, its capability to withstand heat makes it indispensable in applications such as electrical insulation, cable jackets, and wiring harnesses. This versatile material also finds a place in sports gear like gloves, footwear, and protective equipment. Beyond these realms, neoprene rubber’s cushioning attributes render it suitable for crafting laptop sleeves, footwear, and an array of 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.

About Us:

Procurement Resource offers in-depth research on product pricing and market insights for more than 500 chemicals, commodities, and utilities updated daily, weekly, monthly, and annually. It is a cost-effective, one-stop solution for all your market research requirements, irrespective of which part of the value chain you represent.

We have a team of highly experienced analysts who perform comprehensive research to deliver our clients the newest and most up-to-date market reports, cost models, price analysis, benchmarking, and category insights, which help in streamlining the procurement process for our clientele. Our team tracks the prices and production costs of a wide variety of goods and commodities, hence providing you with the latest and consistent data.

To get real-time facts and insights to help our customers, we work with a varied range of procurement teams across industries. At Procurement Resource, we support our clients with up-to-date and pioneering practices in the industry to understand procurement methods, supply chains, and industry trends so that they can build strategies to achieve maximum growth.

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