Global Neoprene Fabric Market 2019 Size, Global Trends, Comprehensive Research Study, Development Status, Opportunities, Future Plans, Competitive Landscape and Growth by Forecast 2028

Neoprene Fabric: Product Overview

The Neoprene Fabric Market was valued at $42.4 billion in 2021 & is projected to reach $84.9 billion by 2028. It is expected to grow at an 8.3% CAGR between 2021 and 2028.

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Neoprene or polychloroprene is a class of synthetic rubber and is manufactured by the method of polymerization of chloroprene. Neoprene has quality attributes such as less oxidization rate and quick drying.

Moreover, neoprene has good chemical properties in terms of stability and maintains its flexibility even in high-temperature ranges.

In addition, Neoprene is a synthetic rubber commonly used to make wetsuits.

It is usually used in the medical and automotive industries because of its features such as maintaining flexibility and chemical/metallic bonding ability.

Dynamics: Neoprene Fabric Market

Increasing demand for neoprene among various end-use industries owing to its ozone and water resistance, good aging and chemical resistance properties, and ease of use with mineral oils, dilute acids, greases, and alkalis.

The material helps to protect individuals from hydrogen gas, natural gas, ammonium hydroxide, mineral oils, silicone oils, greases, harsh chemicals, etc.

This is among the major factors that are anticipated to propel global neoprene fabric market growth.

Additionally, growing demand for neoprene products among consumers, as it has the ability to help protect from fire, its use in thermal insulation materials, high stretch-ability feature, and its adoption to manufacture wetsuits/swimsuits and sports & fitness wear, which in turn, is anticipated to support the growth of neoprene fabric manufacturing industries existing in the global market, thereby fueling the growth of the global neoprene fabric market.

Moreover, neoprene is commonly used for a variety of protective gear equipment and clothing products such as safety helmets, hand gloves, aprons, eyes protection glasses, protective clothing, safety footwear, etc., and can also act as respiratory protection equipment.

The aforementioned are some of the key factors that are expected to support global neoprene fabric market growth.

Furthermore, increasing awareness of the benefits of fitness activities such as swimming, treadmill, yoga, etc. among the women population increases preferences for athletic fitness wear suits which in turn leads to driving the growth of the global market.

However, constant change in the cost of raw materials and fluctuating cost of design is resulting in the high cost of the ultimate product and could hinder the growth of the global neoprene fabric market.

In addition, substitutes are easily available such as polyester, spandex, and nylon is another factor that could limit target market growth.

Segment Analysis: Neoprene Fabric Market

By Type Segment:

Among the type segments, the circular knit segment is projected to witness significant growth in terms of revenue in the market, due to increasing demand for circular knit neoprene as it is highly used in manufacturing fashionable clothing such as T-shirts, and jackets, casual wear, etc.

In addition, circular knit neoprene maintains body temperature and maintains material stability and flexibility which is a key factor supporting the global market growth.

By End Use:

Among the end-use segments, the swimwear, wet suit, & rash guard segment is anticipated to hold a dominant position in terms of revenue share in the global market, attributable to the increasing inclination of individuals toward water sports and a high number of footfalls in water parks.

The outerwear segment is projected to witness a higher growth rate as compared to other segments over the next 10 years.

Neoprene Fabric Market: Regional Analysis

Currently, North America and Europe neoprene fabric markets are estimated to account for higher revenue shares in the target market, because of the increasing use of neoprene fabric in manufacturing various clothing such as sports, swimwear, wet suit, etc.

In addition, increasing utilization of athlete wear, and sports/ athletic wear by professional players are anticipated to boost target market growth.

The neoprene fabric market in the Asia Pacific is projected to register a substantial CAGR in the global market in terms of revenue, owing to changing lifestyles and increasing spending capacity and inclination towards sports games among consumers.

The LA and MEA markets are estimated to account for moderate revenue shares in the target market.

Global Neoprene Fabric Market Segmentation:

Segmentation by Type:

• Polychloroprene Rubber
• Circular Knit

Segmentation by End-Use:

• Outerwear
• Ready-To-Wear
• Swim Wear, Wet Suit, & Rash Guard
• Footwear

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa