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In the first quarter, neoprene rubber prices in Asia experienced a surge until February, followed by a decline in March triggered by a pricing war initiated by Tesla's entry into the automotive sector. The entry led local manufacturers to reduce automotive prices, resulting in destocking and adversely affecting neoprene rubber prices. The second quarter witnessed a recovery, marked by increased demand for neoprene rubber in the tire, pharmaceutical, and automotive sectors, coupled with a rise in overall industrial activity.
In Europe, prices in the first quarter saw growth due to heightened demand from downstream industries and recovering sectors. However, the second quarter witnessed a gradual decline, influenced by a loss of industrial momentum and decreasing energy and production costs.
In North America, neoprene rubber prices exhibited fluctuations, initially rising with the recovery in the automobile sector and semiconductor influx. However, the second quarter faced challenges such as bank closures, inflation, changes in interest rates, and semiconductor shortages, leading to a downturn in 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 chart, 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:
The versatility of neoprene rubber makes it suitable for a diverse range of industrial applications. It plays a crucial role in the production of wetsuits, drysuits, and diving gear, thanks to its exceptional water resistance and insulation properties. In the automotive industry, neoprene rubber is utilized in the manufacturing of hoses, seals, gaskets, and components that dampen vibrations, benefiting from its durability and resistance to oils. Its heat resistance makes it valuable in applications such as electrical insulation, cable jackets, and wiring harnesses. Additionally, neoprene rubber is a preferred material for sports equipment like gloves, footwear, and protective gear. Its cushioning qualities also make it well-suited for the production of laptop sleeves, footwear, and various 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.
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