Denka Corporation Limited, Zenith Rubber, and BGK GmbH ENDLOSBAND, among others, are the major players in the global neoprene market.
The global neoprene market is further expected to grow at a CAGR of about 4.5 % in the forecast period of 2022-2027. As per the analysis by Expert Market Research, the market is expected to be driven by the booming construction industry globally.
The market for neoprene is driven by an increasing demand for wires and cables and the growing automotive sector. Furthermore, the extensive applications of neoprene in the construction sector for supplying seals for doors, facades, electrical insulation, deviator pads, windows, elevator astragals, and highway and bridge seals is fuelling the market growth. In addition, the use in manufacturing oil seals, tyres, hose covers, braking, power transmission belts, and steering system components is aiding the market growth. The rising disposable incomes and growing awareness among the consumers are boosting the neoprene market in the Asia Pacific region.
The major players in the global neoprene market include Denka Corporation Limited (TYO: 4061) and Zenith Rubber. Denka Corporation Limited’s subsidiary Denka Performance Elastomer provides various grades of neoprene for general purpose use, adhesive applications, and liquid dispersions. The neoprene offered for each application differs in polymer stability, viscosity, crystallisation resistance, processing, tensile strength, and flexibility to meet the consumer demands.
Zenith Corporation utilises neoprene for manufacturing neoprene rubber, neoprene bonding layers, and other products. The neoprene rubber produced by the company is resistant to heat, ozone exposure, and weathering. It offers various neoprene grades for commercial applications, and the neoprene bonding layer is utilised for mining purposes. The rising application of neoprene in various industries is further augmenting market growth.
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Denka Corporation Limited is a Japanese chemical company engaged in manufacturing and supplying basic chemicals, agrochemicals, petrochemicals, pharmaceuticals, electronic and construction materials. The products offered by the company include styrene resins, polyvinyl chloride, calcium carbide, cement additives, advanced speciality materials and others for electronics, elastomers and infrastructure, life innovation and polymer industries. The company has production and research and development sites across Japan and overseas subsidiaries in Germany, the United Kingdom, the United States, China, and many other countries.
Zenith Rubber is an Indian company based out of Mumbai in Maharashtra that produces rubber products. The company is a leading producer of a wide variety of high-quality rubber products such as rubber and waterproofing sheet, transit flooring, coated fabrics, inflatables, and mats for construction, oil and gas, marine and electrical industry. It manufactures over 40,000 tons of rubber products annually through its two manufacturing plants in India and exports over 90% of its products globally. The company is a Government Recognised Export House and operates in the United Arab Emirates, the Netherlands, and United Kingdom.
BGK GmbH ENDLOSBAND is a German company and one of the few global manufacturers of truly endless belts by combining carcass, coating, and mechanical processing. The company produces endless belts up to 10,000 mm using polyurethane, neoprene, and silicone for applications in production of print and paper, food, medicine and hygiene, wood, extrusion profiles, textiles, and glass production. It also provides modular kits for consumer-specific belts for custom application scenarios and is active in the European, American, and Asian markets.
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