Isoprene Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE), Growth Potential, Competitive Market Share & Forecast, 2019 – 2025
Report ID: GMI4376
Isoprene Market size is expected to see noticeable growth owing to rising demand of synthetic and natural rubber from growing automobile and footwear industry in coming years. Isoprene or 2-methyl-1,3-butadiene, is a volatile colorless liquid, naturally produced and emitted by several animals and trees. The product can be obtained industrially as a byproduct in the production of ethylene. Most of the product is used for manufacturing of synthetic rubber polyisoprene, which is used in several end-user industries. The product is also consumed in production of styrene-isoprene-styrene block polymers and butyl rubber. Rising demand of tires from automotive industry along with growing applications of polyisoprene in medical industry will drive the isoprene market size over the forecast timespan.
According to International Natural Rubber Study Group, demand for natural rubber is likely to be driven by emerging and recovering mature end-user market such as automotive, footwear, construction, etc. Rising production of natural rubber shall steer the product market growth over the forecast period. Also, growing demand of personal vehicles in emerging markets may fuel Isoprene market growth in the forthcoming years. Isoprene is also used in the production of rubber adhesives and sealants which finds application in manufacturing, assembly and construction industry. Growth of these industries in emerging economies such as India, Malaysia, Brazil shall spur the product demand during forecast period.
Rising disposable income in emerging economies and growing demand of trendy & comfortable footwear shall drive the rubber demand from footwear industry, subsequently having a positive impact on the overall isoprene market size during the forecast timespan. Technological advancement in the production process shall increase yield percentage thus reducing the overall production cost. This shall have positive impact on Isoprene market growth in the coming years. Moreover, polyisoprene is used in medical industry for the production of different products such as surgical gloves, medical stopper, catheters, probe covers, cold seal adhesives, self-adhering bandages. Growing demand of these products due to improving health services and health care programs shall create lucrative opportunity for Isoprene market in the coming years. However, isoprene is a human carcinogen substance which shall strain market growth. Additionally, problem related to high flammability of material and regulations related to safety of workers are likely to affect the overall product demand during forecast period.
Isoprene market is segmented by grade type which includes chemical grade and polymer grade. Rise in favorable trends in global tire industry such as growing demand for high performance tires in passenger car segment, shall drive the product demand. The overall market is categorized into various applications such as polyisoprene, isoprene rubber (IR), styrene-isoprene-styrene (SIS) and others. Polyisoprene is one of the major segments owing to its large application base in tire manufacturing. Styrene-isoprene-styrene shall witness strong growth rate due to disappearing technical barriers. Market segmentation based on the basis of end use industry is bifurcated into natural & synthetic rubber, adhesives & sealants and others. Natural & synthetic rubber attained the largest industry share in 2018 and is likely witness similar trends during the forecast period.
North America is one of the major consumers of isoprene market due to prevalence of multiple automobile manufactures in the region. The region shall witness modest growth in the product demand due to steadily rising automotive sector. Furthermore, product shall witness tremendous growth in Asia Pacific owing to growing economies and end-user industries in India and China. Europe also attained a substantial chunk of the total industry share in 2018. This is attributed to the presence of strong automobile and adhesives & sealants industry. Health care industry growth in Latin America shall drive the product demand in the coming years. Middle East & Africa shall have steady growth rate during the forecast period.
Key product manufacturers in the isoprene market are Royal Dutch Shell PLC., Kraton Corporation, Kuraray Co., JSR Corporation, Precision Dippings Manufacturing Ltd., Amyris Inc., Zeon Corporation and Exxon Mobil Corporation. Acquisitions & mergers and expansion of capacity are some of the strategies manufactures incorporate to increase the market share and growth rate. For instance, Kraton Corporation acquired Arizona Chemical Holdings Corporation in 2016 and Kraton opened 30 kiloton hydrogenated styrenic block copolymer (HSBC) plant in Mailiao, Taiwan in 2017.
Isoprene, By Grade, 2014-2025 (Tons) (USD Million)
- Chemical grade
- Polymer grade
Isoprene, By Application, 2014-2025 (Tons) (USD Million)
- Styrene-Isoprene-Styrene (SIS)
- Isoprene Rubber (IR)
Isoprene, By End-user, 2014-2025 (Tons) (USD Million)
- Natural & Synthetic Rubber
- Adhesives & Sealants
The above information has been provided for the following regions and countries:
- North America
- South Korea
- Latin America
- South Africa
- Saudi Arabia
- Royal Dutch Shell PLC.
- Kraton Corporation
- Kuraray Co.
- JSR Corporation
- Precision Dippings Manufacturing Ltd.
- Amyris Inc.
- Zeon Corporation
- Exxon Mobil Corporation
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