The global polyisoprene elastomers market is foreseen to record significant gains over 2021-2027 owing to the rising material demand for various products including tires, sealants, gloves, and more. Intrinsic product benefits like robust tensile strength characteristics and the ability to operate in low temperature environments would as well augment the growth statistics of polyisoprene elastomers market throughout the forecast period.
Polyisoprene elastomers are synthetic polymers that closely resemble natural rubber in molecular structure and its properties. These are being used in diverse end-use applications demanding low water swell, good resilience, high hot tensile strength, and high gum tensile strength.
The overall polyisoprene elastomers market would observe hinderance from the high production cost of the polyisoprene elastomers as compared to natural rubber. However, the increased consumption of these elastomers from construction, automotive, or tire industry would offer impetus to the market growth through 2027.
Based on the type, cis-1,4-polyisoprene elastomers segment would account for substantial growth over the foreseeable timeframe. The product has proved its utility as a commodity polymer as well as engineering elastomer by virtue of its exceptional combination of physicomechanical properties such as robust mechanical strength, high resilience, and high abrasion resistance. Cis-1,4-polyisoprene is synthesized by Ziegler-Natta polymerization and living anionic polymerization with lithium alkyls. Lithium alkyl living polymerization produces nearly 92% CIS content with linear structure, while Ziegler-Natta catalysis produces a polymer with 96-98% CIS content, broad molecular weight distribution.
An increase in tire production is expected to offer impetus to the global polyisoprene elastomers market. Increasing vehicle production and sales have put forth an intrinsic need for tires, thus raising the demand for polyisoprene elastomers. According to OICA statistics, the total automobile production during 2020 accounted for 77 million. Polyisoprene elastomers are being inherently used in tires, mainly green tires, as they offer exceptional performance to automobiles.
Polyisoprene elastomers are also being largely used in medical applications to meet the specified demands from the stakeholders in the field. The product boasts of the potential allergens present in the proteins of NR which makes it ideal for healthcare applications. Besides, it possess properties like outstanding resilience, ability to reseal with no fragmentation, lower cost, and high abrasion resistance. Some of the prominent applications of PI include septa, seals, valves, large-and-small volume parenteral stoppers, sleeve stoppers, diaphragms, and IV components.
Regionally, Asia Pacific polyisoprene elastomers market is touted to expand at a considerable rate through 2027. Countries like Japan, India, and China have emerged as major consumers of PI elastomers in the region. Amongst these, China has come out to be one of the leading producers of polyisoprene elastomer with various producers pivoting their facilities to China. In addition, thriving medical and automotive industry in the region is further likely to stimulate the regional market demand through 2027. Japan is considered to be one of the leading tire producers in the region, thus complementing the growth scope of polyisoprene elastomers market in APAC.
The polyisoprene elastomers industry is consolidated into various companies including ExxonMobil Corporation, Kraton, DowDuPont Inc., Mitsui Chemicals, Zeon Chemicals, Lanxess AG, Goodyear chemicals, and more. These players have been relentlessly working towards the development of novel products in the business space to effectively serve the consumers and score a competitive advantage.
The novel coronavirus outbreak has had a considerable impact on the overall polyisoprene elastomers market. The industry observed a sluggish growth during the period owing to the disruptions in the automotive industry. The automotive sector observed strong jolt in 2020 due to temporary halt in production, movement restrictions, and reduced workforce. However, increased demand for surgical gloves in the healthcare and medical industry produced a push to the demand for polyisoprene elastomers, impelling the market statistics.