Growing demand for low resistance rubber tire coupled with rising adoption of isoprene across multiple industries will stimulate the global Isoprene industry
The global Isoprene market at a CAGR Of 7.35% during the forecast period of 2021 And 2028. Isoprene is a volatile liquid unsaturated hydrocarbon, which is primarily obtained from animals and plants. It is a colorless hydrocarbon that is derived through coal tar processing or petroleum extraction. It is processed through polymerization in presence of Ziegler catalyst which in turn help products to retain characteristics of a natural rubber. Enhanced durability, improved strength along with high resilience is driving the product demand.
Ongoing industrialization along with growing demand for automobiles leading to increased demand for tire have escalated the product demand across emerging economies. Moreover, rising consumption of baby bottle nipples, rubber bands, and other associated consumer products is stimulating the industry size. In addition, Positive outlook toward development of eco-environment friendly tire to minimize degradation of environment is positively swaying the industry growth.
The report also throws light on various aspects of the global Isoprene industry by assessing the market using value chain analysis. The report covers several qualitative aspects of the Isoprene industry in market drivers, market restraints and key industry trends. Furthermore, the report provides an in-depth assessment of the market competition with company profiles of global as well as local vendors.
The Isoprene market holds a strong competition among the well-established and new emerging players. These market players target to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
The Isoprene market is categorized into polyisoprene, isobutylene isoprene rubber, styrene isoprene styrene, and others on the basis of application. The isobutylene isoprene segment is expected to expand at a growth rate of over 9% over the forecast period on account of its rising adoption across various industries.
Europe is analyzed to experience a substantial growth over the forecast timeframe. Shifting focus toward adoption of electric vehicle and high performance vehicle leading to its improved characteristics comprising durable tire is driving the industry growth. Furthermore, positive government directives to develop ecofriendly material along with stringent norms to reduce the utilization non-biodegradable materials owing to rising environment concerns is proliferating the business outlook.
The leading players operating across the global Isoprene market include Royal Dutch Shell PLC., The Goodyear Tire and Rubber Company, Sibur, Lyondellbasell Industries N.V., Zeon Corporation, Ningbo Jinhai Chenguang, and PJSC Nizhnekamskneftekhim, including others. The industry for Isoprene constitutes established global players along with growing rising presence of emerging companies. In addition, the companies are focusing toward expanding their market penetration through adoption of inorganic growth strategies.
Segment overview of Isoprene market
- Type Overview, 2018-2028, (USD Million and Tons)
- Chemical Grade
- Polymerization Grade
- Application Overview, 2018-2028, (USD Million and Tons)
- Isobutylene Isoprene Rubber
- Styrene Isoprene Styrene
- End-User Industry Overview, 2018-2028, (USD Million and Tons)
- Regional Overview, 2018-2028, (USD Million and Tons)
• North America
o Rest of Europe
• Asia Pacific
o Rest of Asia-Pacific
• Middle East & Africa
o Saudi Arabia
o Rest of Middle East & Africa
• South America
o Rest of South America