In 2017, the North America isoprene market was worth US$611.5 mn, which is estimated to reach a valuation of US$761.5 mn by 2022, incrementing at a CAGR of 4.5% during the forecast period of 2017 to 2022.
Albany, NY -- (SBWIRE) -- 10/13/2017 -- Isoprene is basically an industrial chemical which is largely used in manufacturing several products such as pesticide, various automotive parts, synthetic rubber and some other chemical products which are refined like perfume, plant alcohol and so on. In the projection period of 2017-2022, the global isoprene market is likely to perform well with a steady growth across the globe throughout the assessed period. Considering the rising development and progress of this market, Market Research Reports Search Engine (MRRSE) has decided to add this report in its database with the title, "Isoprene Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017-2022," that tracks the performance of the market during the five-years of forecasted period.
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Global Isoprene Market- Drivers
The report has listed some of the factors which are fuelling the growth of the global market for isoprene. These drivers are as bellows
Rising demand of isoprene for the manufacturing of tires. Tires with the usage of Isoprene chemical give qualitative ride to the consumers
Increasing usage of isoprene chemical in footwear and in medical sector
Government's regulations related to manufacturing of rubbers and variation in the prices of crude oil
Tires with low rolling resistance and their improved performance
Global Isoprene Market- Segmental Analysis and Forecast
The worldwide market of isoprene is segmented into product, end user and application segment. On the basis of product the market is further segmented into chemical grade and polymer grade. The segment of polymer grade grabs the market share of 54.2% and is likely to be valued US$ 1,151.0 Mn in the year 2017. This particular segment is expected to gain US$ 1,477.4 Mn at the end of the projected period, i.e. 2022, expanding at a health CAGR of 5.1%. The segment of polymer grade is likely to increase its revenue share up to 55% in by the end of 2022 and this is the largest share than the revenue share of any other segment of product.
The end user segment includes industrial rubber, tires, adhesives and others. Tires keep on constituting the most noticeable chunk of demand for isoprene. Tires that are produced using polyisoprene provide features, for example, durability, sturdiness, wear protection, quality, and versatility. The sale of vehicles are increasing and due to which the demand for tires is also rising which will support the growth of worldwide isoprene market. The application segment consists of speciality chemicals, isobutylene-isoprene, polyisoprene and styrene-isoprene styrene segments.
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Global Isoprene Market- Regional Analysis and Forecast
Although Asia Pacific region is estimated for greater growth rate, North America region is the most profitable region in the market of isoprene. With moderate CAGR of 4.5%, North America region is anticipated to be valued US$ 611.5 Mn in the year 2017. This value will be increased and is likely to reach up to US$ 761.5 Mn in the year 2022. Densely populated Asia pacific region include two encouraging economies such as India and China which has have flourishing industry of automotive and a large scale of consumers. Thus this region is expected to expand at a robust CAGR of 5.1 % between 2017 and 2022.
Global Isoprene Market- Key Vendors
Ajinomoto Co. Inc., Royal Dutch Shell Plc, Bridgestone Corporation, Nizhnekamskneftekhim, GlycosBio, DuPont, Petroleum Pte Ltd., The Goodyear Tire & Rubber Company, Fortrec Chemicals, SIBUR, Shandong Yuhuang Chemical Group Co. Ltd., and Kuraray Co. Ltd., are some of the competitive landscapes operating in the global market for isoprene.
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