Isoprene market predicted to grow at a rate of 7.35% for the forecast period of 2021 to 2028. Rise in the demand for fabricated rubber in automotive sector acts as a vital factor driving the growth of isoprene market.
The polymerization Grade segment held the largest share in the Isoprene Market in 2018. Polymerization grade is widely used due to its characteristics similar to natural rubber which are used in different applications. In strength, cure rate, processing, mixing and moulding it also has more consistency than natural rubber.
Tires segment held the largest share in the Isoprene Market in 2018. Because of their properties including resilience, tensile resistance, tear strength, etc. isoprene commonly used in the manufacture of tires. Tires are growing in demand globally. Tire and rubber industry sales worldwide amount to approximately USD 18 billion, mainly from industries such as the aerospace industry, automotive, etc. Globally, the firms of tire and rubber manufacturing are increasing. Tire producers in the United States and Europe increased by around 111 firms and 4,300 firms. Companies, such as Bridgestone (Japan), Michelin (France), Goodyear (US), Continental (Germany), and Sumitomo Rubber Industries (Japan) are the major producers of tires in the world. This scenario is expected to boost the demand for the market studied.
At a compound annual growth rate of 6.8%, the size of the worldwide Isoprene market is projected to reach $4.39 Billion in 2027.
Polyisoprene sector has been the primary market for Isoprene by growing at a CAGR of 3.2%. Polyisoprene is used mainly in the production of tires and in other rubber products. It has a lower non-polymer component level than natural rubber. In rubber bands, footwear, cut thread, baby bottle nipples, hoses, and conveyor belts, Polyisoprene is used in addition to tires. Polyisoprene is commonly used in the production of medical devices like the manufacturing of surgical gloves, sample covers, and catheters.
APAC dominated the Isoprene Market share with more than 38%, followed by North America and Europe. Global market share is dominated by the Asia-Pacific region, as Asia-Pacific is the largest tire producer. Countries such as India, China, Japan, etc. are the largest car and commercial vehicle manufacturers in the Asia-Pacific region.In addition, the growing production of electric cars is driving demand for tires in countries like China, Japan, and others. During the forecast period, electric vehicles in these countries are expected to reach approximately 6843 units and 1023 units respectively. It is predicted that all the above-mentioned factors will increase isoprene demand over the forecast period.
Isoprene is described as a colourless and volatile liquid natural compound. It is generally employed to make compound substances with residences based on the percentage of components in it and the artificial rubber and persecution aluminium chloride instigator has first-rate solidness to gases and is employed in internal tubes.
Growth in demand for fabricated rubber in the automobile sector, stringent regulations through authorities ensuring hygiene and protection drives, rapid industrialization in the growing economies, and demand for polyisoprene merchandise are some of the outstanding factors, behind the increase of the worldwide isoprene marketplace. A vast utilization of artificial rubber in automobile enterprise for tires, door and window profiles, hoses, belts, matting, and floors is driving the increase in the marketplace. The use of artificial rubber can provide benefits like exceptional abrasion resistance, warmness resistance, low cost, flame retardancy, and ability. Also, excessive funding through primary players for R&D activities with better overall performance is predicted to reinforce the marketplace increase. However, stringent laws through the authorities for the production of rubber and a fluctuating price of raw substances are restricting the increase of the worldwide isoprene marketplace on a worldwide scale.
Isoprene Rubber is used to manufacture tires, springs, rubber bands, conveyor belts, and its property of high tensile strength is extremely useful in making gloves and balloons. It serves various end-users like tire, medical, construction, and automobile industry.
The Tire and Automobile industry is a prime consumer of isoprene rubber in the global market and is expected to drive the future market. Despite a tough 2020, the automobile industry has finally found its footing in 2021, with sales restoring to the pre-pandemic times giving the industry a much-needed boost.
The global automotive market's export value was estimated to be about USD 37 million in 2020, increasing over USD 11 million from the previous year. The growing demand for energy-efficient vehicles has set the EV sector of the automotive industry on a rapid rise, with record sales in emerging countries like China. This increasing demand in the automobile and tire sector could drive the growth of the isoprene rubber industry for the forecasted year.
The major companies profiled for global bio-based isoprene include: DuPont, Amyris, Good year Tire and Rubber Company, Genencor, Michelin, BioXcell, Ajinomoto Co. Inc, Bridgestone Corporation, PolymerOhio Inc, GlycosBio and Danisco among others. Companies into manufacture of bio-based isoprene have altered various enzymes in the biosynthetic pathway to enhance both the yield of isoprene and the rate of production. Technological advancements along with changes in the enzymatic pathways have improved the quantity and efficiency of isoprene and have reduced the production of by-products DuPont developed an innovative fermentation process for producing bio-based isoprene monomers from biomass using metabolically engineered E. coli strains.
Isoprene Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2027||$ 4.39 Billion|
|Growth Rate||CAGR of 6.8% during 2021-2027|
|Segment Covered||by Grade, Application, End-Use, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Braskem (Brazil),Kuraray (Japan),LyondellBasell Industries Holdings BV (Netherlands),Shell Global (Netherlands),SIBUR (Russia),Chevron Phillips Chemical Company (US),The Goodyear Tire & Rubber Company (US),ZEON Corporation (Japan),JSR Corporation (Japan),China Petrochemical Corporation (China),Dow (US),Pon Pure Chemicals (India),Zibo Luhua Hongjin New Material Co.,Ltd (China),Exxon Mobil Corporation (US),PJSC Nizhnekamskneftekhim (Russia).|
Key Segments of the Global Isoprene Market
• Polymer Grade
• Chemical Grade
• Polyisoprene (IR)
• Styrene-isoprene-styrene (SIS)
• Isobutylene-isoprene rubber (IIR)
By End-Use Industry
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa