In the first quarter in Asia, neoprene rubber prices experienced an uptick until February, followed by a decline in March triggered by a pricing war initiated by Tesla’s entry into the automotive sector. The participation of Tesla led to local manufacturers lowering automotive prices, resulting in destocking and adversely affecting neoprene rubber prices. However, there was a recovery in the second quarter, driven by increased demand for neoprene rubber from the tire, pharmaceutical, and automotive sectors, coupled with a rise in industrial activity.
In Europe, prices in the first quarter witnessed growth due to heightened demand from downstream industries and recovering sectors. Nevertheless, the second quarter saw a gradual decline attributed to the loss of industrial momentum and decreasing energy and production costs.
In North America, neoprene rubber prices experienced fluctuations. They initially rose with the recovery in the automobile sector and an influx of semiconductors. However, the second quarter faced challenges, including bank closures, inflation, changes in interest rates, and semiconductor shortages, leading to a downturn in neoprene rubber prices.
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 suitable for a variety of industrial uses. Its water resistance and insulation properties make it a popular choice for crafting wetsuits, drysuits, and diving gear. In the automotive industry, neoprene rubber is utilized in the production of hoses, seals, gaskets, and vibration-damping components, thanks to its durability and resistance to oils. Industrial seals and gaskets benefit from its robustness. Neoprene rubber’s heat resistance is put to use in electrical insulation, cable jackets, and wiring harnesses. It also plays a role in sports equipment, such as gloves, footwear, and protective gear. Additionally, its cushioning qualities make it ideal for applications like laptop sleeves, footwear, and various consumer goods.
- Denka Company limited.
- Resonac Holdings Corporation
- Tosoh Corporation
- 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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