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Global Isoprene Market is Expected to Reach USD 3.38 Billion by 2025 : Fior Markets

Global Isoprene Market by Type (Polymer Grade, Chemical Grade), Application, End Use, Regions, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025

Newark, NJ, Feb. 25, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global isoprene market is expected to grow from USD 1.87 billion in 2017 to USD 3.38 billion by 2025, at a CAGR of 7.66% during the forecast period from 2018-2025.

The global isoprene market has witnessed rapid growth in recent years. It has wide applications in many industries including consumer goods and automotive. Due to its low cost and outstanding mechanical properties, isoprene rubber is one of the most preferred material for many engineering applications. Typical uses of isoprene include anti-vibration mounts, bearings, drive couplings, tires, springs, and adhesives. Increasing use of isoprene in the production of synthetic rubber is also driving the global isoprene market.

Isoprene is the common name of the chemical compound 2-methyl-1,3-butadiene with the chemical formula CH2=C(CH3)−CH=CH2. In its purest form isoprene is a colourless volatile liquid. It is obtained by processing petroleum or coal tar. Isoprene is used in the production of wide ranging products such as synthetic rubber, pesticide, medicine and other refined chemical products, like pyrethrum, linalool.

The global isoprene market is expected to witness rapid growth over the forecast period, owing to high growth in the synthetic rubber industry. In addition to this, increasing utilization of isoprene in the manufacturing of automotive parts such as tires suspension bushes, floor mats, , fuel hoses, mud flaps,  and exhaust rubber hangers is driving the market growth. However, volatility in raw material prices and increasing preference for the natural rubber, are some of the factors anticipated to hinder the market growth over the forecast period. On the flip side, rising demand for isoprene in the medical devices sector is likely to provide the new opportunities for the key vendors in upcoming years.

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Key players operating in the global isoprene market include Kuraray Company Ltd., Royal Dutch Shell Plc., ExxonMobil Corp., LyondellBasell Industries N.V., Shandong Yuhuang Chemical (Group) Co., Ltd., Braskem, The Goodyear Tire and Rubber Company, SIBUR, Zeon Corporation, Ningbo Jinhai Chenguang Chemical Corporation, Yokohama Rubbers,  PJSC Nizhnekamskneftekhim, Chevron Phillips Chemical Company, Sinopec, Haihang Industry Co., Ltd., Fortrec Chemicals and Petroleum Pte Ltd, and Zibo LuhuaHongjin New Material Co., Ltd. among others. To enhance their market position in the global isoprene market, the key players are now focusing on adopting the strategies such as recent developments, product innovation, joint venture, mergers & acquisitions, collaborations, and partnership. To reduce the dependence on the crude oil and make the production process more environmentally sustainable, major firms are increasingly focusing on developing biologically derived isoprene production process.

  • For instance, in the year 2016, Goodyear, a tire and rubber company announced the collaboration with DuPont Industrial Biosciences to develop BioIsoprene.  It is a revolutionary bio-based alternative for petroleum-derived isoprene that can be used for the production of synthetic rubber, which is an alternative for natural rubber and other elastomers.
  • In July 2015, Braskem announced the collaboration between renewable products company Amyris and tire company Michelin to develop and commercialize renewable isoprene, sourced from various biomass.

Polymer grade segment held the largest market share of 56.78% in 2017

The type segment is divided into chemical grade and polymer grade. Polymer grade segment emerged as the leader with a 56.78% share of revenue in 2017. This increase demand can be attributed to high resilience, cold resistance, and tensile strength properties of the polymer grade isoprene. Polymer grade isoprene is used in the production of polyisoprene, which in turn is utilized for manufacturing of wide range of automobile parts. Thus, growing use of polyisoprene is anticipated to drive the demand for the polymer grade isoprene.

Polyisoprene segment emerged as a dominating segment with the market share of 53.41% in 2017

The application segment is categorized into polyisoprene, styrene-isoprene styrene, isobutylene-isoprene rubber, specialty chemicals and others. Polyisoprene segment emerged as a dominating segment with a 53.41% share of market revenue in 2017. Polyisoprene has a very high application value in the production of automobile parts such as tires, motor mounts, sponge, pipe gasket and other products like sporting goods, baby bottle, and footwear.

Industrial rubber segment is projected to grow at the highest CAGR of 10.06% over the forecast period

End-use is segmented into tires, adhesives, industrial rubber and others. Industrial rubber segment is projected to grow at the highest CAGR of 10.06% over the forecast period. Rising application of industrial rubber in the production of footwear, gasket, sealing products, hoses and conveyor belts is anticipated to drive boost this rising demand. Isoprene industrial rubber is highly resistant to fractures and abrasion. The operating temperature range of isoprene rubber is from −55 °C up to +80 °C and it has electro insulating resistance.

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Regional Segment Analysis of the Isoprene Market

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
  • Asia-Pacific (China, Japan India, Rest of APAC)
  • South America (Brazil and Rest of South America)
  • Middle East and Africa (UAE, South Africa, Rest of MEA)

The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Asia Pacific emerged as the largest market for the isoprene with a 39.91% share of market revenue in 2017, followed by Europe. Increasing industrial development generating unabated demand for the industrial products such as gasket, sealing products, hoses and conveyor belts are the factors driving the growth of market in the Asia Pacific region. Furthermore, Europe region is projected to attain a significant market share over the forecast period on account of its well-developed automotive manufacturing industry.

About the report:

The global isoprene market is analysed on the basis of value (USD Billion), volume (Kilotons), imports (Kilotons) and exports (Kilotons). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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Fior Markets is a futuristic market intelligence company, helping customers flourish their business strategies and make better decisions using actionable intelligence. With transparent information pool, we meet clients’ objectives, commitments on high standard and targeting possible prospects for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global market intelligence research reports including industries like technology, pharmaceutical, consumer goods, food and beverages, chemicals, media, materials and many others. Our Strategic Intelligence capabilities are purposely planned to boost your business extension and elucidate the vigor of diverse industry. We hold distinguished units of highly expert analysts and consultants according to their respective domains. The global market research reports we provide involve both qualitative and quantitative analysis of current market scenario as per the geographical regions segregated and comprehensive performance in different regions with global approach. In addition, our syndicated research reports offer a packaged guide to keep companies abreast of the upcoming major restyle in their domains. Fior Markets facilitates clients with research analysis that are customized to their exact requirements, specifications and challenges, whether it is comprehensive desk research, survey work, composition of multiple methods, in-detailed interviewing or competitive intelligence. Our research experts are experienced in matching the exact personnel and methodology to your business need.

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