Global Isoprene Market 2019 includes Attractiveness and Raw Material Analysis and Competitor Position Grid Analysis to 2025
Fior Markets launched a study titled “Global Isoprene Market by Type (Polymer Grade, Chemical Grade), Application,End Use, Regions”,and Global Forecast 2018-2025.
The global isoprene market is expected to grow from USD 1,876.38 Million in 2017 to USD 3,386.39 Million by 2025, at a CAGR of 7.66% during the forecast period from 2018-2025. Increasing utilization of isoprene in the manufacturing of various automotive parts as well as in the production of synthetic rubber is driving the global isoprene market.
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Polymer grade isoprene had a market value of USD 1,065.40 million in 2017
Type segment is divided into polymer grade and chemical grade.On account of high resilience, cold resistance, and tensile strength properties, polymer grade emerged as the largest segment with USD 1065.40 million revenue in 2017. Polymer grade isoprene is widely used in the production various isoprene derivatives such as polyisoprene, isobutylene-isoprene rubber.
Isobutylene-isoprene rubber segment is anticipated to grow at a CAGR of 9.82% in 2018-2025
Application segment is categorized into polyisoprene, styrene-isoprene styrene, isobutylene-isoprene rubber, specialty chemicals and others. On account of its wide ranging use in the manufacturing of automobile parts such as tires, motor mounts, sponge, pipe gasket and other products like sporting goods, and baby bottle nipples and footwear, polyisoprene led the global isoprene market with USD 1002.17 million revenue in 2017. Due to its rising utilization as the natural rubber substitute, isobutylene-isoprene rubber segment is projected to grow at the highest CAGR of 9.82% over the forecast period.
Tires segment had a market value of USD 802.90 million in 2017
End use is segmented into tires, adhesives, industrial rubber and others. Continuously rising demand for the automobiles and superior strength, wear resistance, and resilience properties of the isoprene tires led tire segment to account for the largest market share with USD 802.90 million 2017. Increasing useof industrial rubber in the production of footwear, gasket, sealing products, hoses and conveyor belts is anticipated propel industrial rubber segment to grow at a CAGR of 10.06% over the forecast period.
Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Unabated demand for the automobiles and rapid industrial development is generating huge demand for the tires, gasket, sealing products, hoses and conveyor belts in the Asia Pacific region. Thus Asia Pacific region emerged as the global leader in the demand for isoprene with USD 748.86 million revenue in 2017.
Major players in the global isoprenemarket are 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, Zibo LuhuaHongjin New Material Co., Ltd., among others.
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