Polyisoprene to Be the Dominant Application of Isoprene (Detailed Analysis on Isoprene Market)

The Isoprene Market was valued at USD 1.93 billion in 2015 and is projected to reach USD 2.96 billion by 2021, at a CAGR of 7.4%, from 2016 to 2021. About 70% of isoprene is used to manufacture synthetic rubber called polyisoprene. Polyisoprene has the same basic formula as natural rubber, and thus it is a synthetic version of natural rubber, having the same properties as natural rubber. Also, isoprene is largely used in manufacturing SIS, IIR, and other derivatives. The tire industry is experiencing high growth because of the growing automotive industry.

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Market Dynamics

Drivers -

• Growth in the synthetic rubber industry to increase the production of isoprene
• Demand for polyisoprene rubber in the medical sector

Opportunities - 

• Developing countries in Asia- Pacific offer substantial growth opportunities
• Growing demand for improved performance and low rolling resistant tires providing growth opportunities for isoprene

Challenges -

• Regional demand-supply gaps
• Crude oil price fluctuations

Some of the major players in the isoprene market include Nizhnekamskneftekhim (Russia), SIBUR (Russia), The Goodyear Tire & Rubber Company (U.S.), Royal Dutch Shell Plc (Netherlands), Kuraray Co. Ltd. (Japan), ZEON Corporation (Japan), and LyondellBasell Industries N.V. (U.S.). 

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Growth in the synthetic rubber industry to increase the production of isoprene

The growth of the isoprene industry is directly related to the growth of the synthetic rubber industry. Isoprene manufacturers are impacted by the trends in the tire industry and other related synthetic rubber products. The growth in the tire industry is, in turn, dependent on the automotive industry that is growing and projected to witness a global sales rise of 60% by 2020. The global rubber production has been increasing since 2000. The world’s rubber production in 2010 was 23,680 kilotons, which increased to 26,774 kilotons in 2015.