Isoprene Rubber (IR) Latex Market Size By Application (Medical Gloves, Medical Balloons & Catheters, Condoms, Adhesives), By End-user Industry (Medical, Consumer Goods, Industrial), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Isoprene Rubber Latex Market Size

Isoprene rubber latex Market size was close to USD 210 million in 2019 and will grow at a CAGR of 4.5% from 2020 to 2026. Increasing demand for isoprene rubber latex from medical & healthcare across the globe will escalate the revenue generation during the forecast period.
 

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Isoprene rubber (IR) latex is a water-based product that is an ideal substitute for natural rubber latex for a wide range of applications in the medical, consumer, and industrial sectors. Since the product is manufactured synthetically, it possess a high levels of purity and resistance to naturally occurring proteins and other compounds without Type1 allergy risk.
 

Although its molecular structure is similar to natural rubber, IRL offers superior properties such as easy vulcanization, good processability, resilience, and high tensile strength that are not found in regular rubber. These factors will drive the IR latex demand as a substitute for natural rubber latex and will augment the isoprene rubber latex market growth during the forecast period.
 

IR latex is used in the manufacturing of medical supplies such as gloves, catheters, balloons, needle shields, medical or food packaging adhesives, probe covers etc. They are also widely used in the manufacturing of condoms and footwears. Moreover, enhanced living standards, improving sex education, and family planning policies have further promoted the use of condoms. China and Malaysia are significant condom manufacturing countries in the Asia Pacific.
 

Rapidly increasing demand for medical gloves from the healthcare industry will be a major growth enabler for the isoprene rubber latex market. Increasing population, higher prevalence of chronic and non-chronic diseases, and advances in the medical treatment will subsequently increase global demand for medical gloves in the sector.
 

The product is largely employed in fabrication of medical equipment such as catheters, cohesive bandages, medical stoppers, membranes, tube connectors etc., in medical procedures such as fixation, invasive diagnostic techniques and drug delivery. With more than 2.5 million people infected with the new coronavirus spread, there has been a sudden spike in the demand of disposable medical gloves.
 

These trends will subsequently surge the global Isoprene rubber latex market during the forecast period. However, prevalence of massive internal substitute threat from the latex market may negatively impact the industry growth from 2020 to 2026.
 

Isoprene Rubber Latex Market Analysis

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Medical gloves was valued over $150 million in 2019 and is likely to exhibit promising gains over the forecast timeframe. IR latex is used in the manufacturing of medical gloves that are allergy free and are an ideal substitute for natural rubber latex gloves. Natural rubber latex gloves have the disadvantage of containing naturally-occurring proteins that causes type 1 allergy risks. IR latex on the other hand, eliminates this risk as it does not contain these proteins.
 

Apart from this, these gloves exhibit high purity, consistency, strength, softness, and elasticity. Furthermore, indispensable use of gloves in the healthcare sector along with prevalence of unfortunate medical issues, including COVID-19, will complement isoprene rubber latex market share by 2026.
 

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Isoprene rubber latex finds applications in several end use industries such as consumer goods, medical, and industrial. Isoprene rubber latex market for consumer sector is likely to witness above average industry gains of over 5% CAGR from 2020 to 2026. Consumer goods sector includes product demand in manufacturing condoms, baby nipples, and footwear.
 

Increasing demand for condoms will be the major factor driving the segments growth during the forecast timeframe. The product’s superior elastic and mechanical properties along with its allergy free characteristics will drive its usage in the condom manufacturing sector.
 

Efforts made by the governments of many countries with conjunction with private organizations to eradicate sexually transmitted diseases such as AIDS, syphilis, etc. will also drive condoms demand in the forecast years. According to the latest World Health Organization (WHO) data, China, UK, and the U.S. are the countries having the highest instances of condom usage. The isoprene rubber latex market application in manufacturing high-end footwear is also likely to increase in coming years.
 

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Asia Pacific accounted for over 70% of the global isoprene rubber latex market in 2019. The region is the largest market which is being driven by high volumes of medical glove and condom manufacturing activities. The region is characterized by the presence of a significant number of medical glove manufacturers, owing to the presence of cheap labor as well as availability of raw materials.
 

Malaysia is the largest glove manufacturing country in the world accounting for approximately 60% of global production. Thailand, China, India, Indonesia, and Japan are also major glove manufacturing hubs of the world. This trend has been a major factor behind the region’s significant isoprene rubber latex market value over the past few years.
 

Isoprene Rubber Latex Market Share

Geographic expansion has been the strategy adopted by companies in order to increase their industry foothold. For instance, In July 2018, Kuraray entered into a contract with PTT Global Chemical Public Company Ltd. and Sumitomo Corporation to establish a joint venture company, Kuraray GC Advanced Materials in Thailand. This would help the company to expand its geographical presence and boost the isoprene rubber latex market growth strategy.
 

The industry ecosystem is fairly consolidated with major players accounting for a dominant share of the business in 2019. Key operating in the isoprene rubber latex industry includes:

• Kraton Corporation
• Puyang Linshi Chemical & New Material Co., Ltd
• Kent Elastomer Products Inc
• Kuraray Co., Ltd
• JSR Corporation.
   

The Isoprene rubber (IR) latex market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in tons and revenue in USD thousand from 2016 to 2026, for the following segments:

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By Application

• Medical gloves
• Medical balloons & catheters
• Condoms
• Adhesives
• Others

By End-user Industry

• Medical
• Consumer products
• Industrial

The above information is provided on a regional and country basis for the following:

By Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Indonesia
  • Malaysia
  • South Korea
• Latin America
  • Brazil
  • Mexico
• MEA
  • South Africa
  • Saudi Arabia
  • UAE
  • Kuwait