Chloroprene Rubber Market Worth $1.39 Billion By 2028
Chloroprene Rubber Industry Overview The global chloroprene rubber market size is expected to reach USD 1.39 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 4.6% from 2021 to 2028. Increasing adoption of chloroprene rubber in the automotive, electrical & electronics, construction, and textile industries is projected to fuel the market growth during the forecast period. It is widely used in tire sidewalls, automotive trims, gaskets, and related products owing to the rising demand for Electric Vehicles (EVs). Chloroprene Rubber Market Segmentation Grand View Research has segmented the global chloroprene rubber market on the basis of application and region: Based on the Application Insights, the market is segmented into Automotive, Electrical & Electronics, Construction, Textile, Others. The automotive application segment dominated the market in 2020 and accounted for more than 35% of the ove...