Global isoprene market is expected to reach USD 3386.39 Million by 2025, at a CAGR of 7.66% from 2018 to 2025. Increasing utilization of isoprene in the manufacturing of automotive parts such as tires, fuel hoses, mud flaps, suspension bushes, floor mats, and exhaust rubber hangers is driving the market growth.
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 colorless volatile liquid. It is obtained by the 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 increasing use of isoprene in the production of synthetic rubber is driving the global isoprene market.
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- The base year for the study has been considered 2017, the historic year 2015 and 2016 and, the forecast period considered is from 2018 to 2025. The global isoprene market is analyzed by value (USD Million) and volume (Kilotons)
- The study delivers a comprehensive analysis of the global isoprene market by type, application, end use and regions. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2018 to 2025.
- Porter’s Five Forces model is used to recognize the competitive scenario in the global isoprene market. This report incorporates the industry analysis which is focused on providing an extensive view of the isoprene market.
- The study also includes attractiveness analysis of type, application end use and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
- The report provides company profile of the key players operating in the isoprene market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.
- Growing utilization of synthetic rubber in the automobile industry
- Increasing demand for the polyisoprene in the medical sector
- Volatility in raw material prices
- Increasing preference for the natural rubber
- Rising demand for medical devices
- Strict environmental regulations against the use of toxic organic chemicals in the production of Isoprene
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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