The report “Isoprene Market by Type (Polymer grade, Chemical grade), Application (Polyisoprene, Styrene isoprene styrene, Isobutyl isoprene rubber), End-Use Industry (Tires, Non-tires, Adhesives), and Region - Global Forecast to 2021”, Isoprene has properties similar to natural rubber such as flexibility and strength without odor, fragmentation, or allergic reaction, which drives its demand in tires, non-tires, adhesives, and other industries.
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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%, during 2016 to 2021.
Browse 155 market data tables and 61 figures spread through 162 pages and in-depth TOC on “Isoprene Market by Type (Polymer grade, Chemical grade), Application (Polyisoprene, Styrene isoprene styrene, Isobutyl isoprene rubber), End-Use Industry (Tires, Non-tires, Adhesives), and Region - Global Forecast to 2021”
Market Dynamics
Drivers
- Growth in the synthetic rubber industry to increase the production of isoprene
- Demand for polyisoprene rubber in the medical sector
Restraints
- Regulations in the rubber manufacturing industry
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
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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. This growth in rubber production is projected to continue in the coming years, which will increase the demand for isoprene. The leading isoprene manufactures are expanding their production capacities. For example, Nizhnekamskneftekhim, a top manufacturer in Russia, started a new production unit for isoprene feedstock that will allow the company to produce additional 15,000 tons of isoprene.
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