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In 2022, the global Chloroprene Rubber Market size reached a valuation of USD 1.6 billion, with a growth projected at a CAGR of 2% to cross USD 2 billion by 2032. This strong growth can be attributed to the rising demand for fuel efficient vehicles and strong growth in the automotive industry. Chloroprene rubber is widely used in automotive, adhesives, building & construction, consumer goods, industrial machinery and wire & cable. Chloroprene rubber is used to manufacture rubber parts used in air suspensions, steering hoses, joint boots, brake hoses, seals and gaskets. In the electrical industry, it is widely used as sheaths for wires and cable. Chloroprene-based adhesives are known for their rapid bonding strength.
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