Global isoprene market expected to reach USD 3.91 billion by 2025, at a CAGR of 7.2% between 2019 and 2025. The global isoprene market is likely to witness rapid growth over the estimated timeframe, owing to the flourishing automotive production across the globe.
Sarasota, FL -- (SBWIRE) -- 02/15/2019 -- Zion Market Research has published a new report titled "Isoprene Market by Type (Polymer Grade and Chemical Grade), by Application (Polyisoprene, Styrene-Isoprene Styrene, and Isobutyl-Isoprene Rubber), and by End-User Industry (Automotive, Personal Care, Construction, Medical, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018—2025". According to the report, the global isoprene market was valued at USD 2.4 billion in 2018 and is expected to reach USD 3.91 billion by 2025, at a CAGR of 7.2% between 2019 and 2025.
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Isoprene is a colorless hydrocarbon liquid that is volatile in nature. It is an unsaturated penta hydrocarbon, which is commonly found in plants, animals, and humans. Pure isoprene is highly flammable at room temperature and can be easily ignited. Around 75% of isoprene manufactured is used to produce synthetic rubber.
The global isoprene market is likely to witness rapid growth over the estimated timeframe, owing to the flourishing automotive production across the globe. The rising demand for fuel hoses, tires, mud flaps, engine mounting, exhaust rubber hangers, suspension bushes, and floor mats in the automotive industry is expected to further drive the global isoprene market growth in the future. Additionally, the extensive use of isoprene in producing synthetic rubber for performance characteristics, similar to natural rubber, and durability offered to the end-products is also projected to boost the isoprene market globally in the years ahead. The rapid industrialization in developing countries, such as China, India, and Brazil, is likely to propel the demand for isoprene. As isoprene is widely used by automotive and construction industries, the isoprene market growth is anticipated to spur further in the upcoming years. However, the strict environmental regulations and fluctuating prices of raw materials might hinder the isoprene market growth on a global scale.
The global isoprene market is divided based on the type, application, and end-user industry. By type, the global isoprene market includes polymer grade and chemical grade. Polymer grade dominated the global isoprene market in 2018, owing to its increased usage by automotive and medical sectors. By application, the global isoprene market includes polyisoprene, styrene-isoprene styrene, and isobutyl-isoprene rubber. Polyisoprene segment is likely to contribute substantially toward the global isoprene market in the future. As polyisoprene is a synthetic rubber and possesses similar properties and structure to natural rubber, it is widely used in tire manufacturing among other rubber products. By end-user industry, the global market includes automotive, personal care, construction, medical, and others. In 2018, the automotive industry dominated the global isoprene market in terms of volume and revenue, owing to the rapid growth of the automotive industry in the developing economies globally.
By region, the global isoprene market includes North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2018, the Asia Pacific region dominated the global isoprene market in terms of volume, due to its growing automotive and construction industries. Additionally, the increasing demand for isoprene for tire production is estimated to fuel the region's isoprene market over the forecast time period.
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Some key players of the global isoprene market are SIBUR, Fortrec Chemicals and Petroleum Pte Ltd., LyondellBasell Industries N.V., Kuraray Co. Ltd., ZEON Corporation, Royal Dutch Shell PLC, Ningbo Jinhai Chenguang, JSR Corporation, Finetech Industry Ltd., Haihang Industry Co. Ltd., Shandong Yuhuang Chemical Group Co. Ltd., and Braskem, among others.
The report segments the global isoprene market into:
Global Isoprene Market: Type Analysis
Global Isoprene Market: Application Analysis
Global Isoprene Market: End-User Industry Analysis
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Global Isoprene Market: Regional Analysis
The Middle East and Africa