Isoprene Rubber (IR) Latex Market Analysis

Isoprene Rubber Latex Market Analysis

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.
 

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.
 

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.