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The isoprene market size has the potential to grow by USD 1.62 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by application (polyisoprene, styrene-isoprene-styrene, isobutylene-isoprene rubber, and other chemicals) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Braskem SA, Exxon Mobil Corp., JSR Corp., Kraton Corp., Kuraray Co. Ltd., LyondellBasell Industries NV, PJSC Nizhnekamskneftekhim, PJSC SIBUR Holding, Royal Dutch Shell Plc, and The Goodyear Tire & Rubber Co.
The market is fragmented. The vendors are opting for M&A, divestitures, JVs, and partnerships to increase their market foothold. LyondellBasell Industries NV, PJSC Nizhnekamskneftekhim, PJSC SIBUR Holding, Royal Dutch Shell Plc, and The Goodyear Tire & Rubber Co. are some of the major market participants. Although the rising demand from tire industry will offer immense growth opportunities, the volatility in raw material prices will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this isoprene market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this isoprene market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
Europe was the largest isoprene market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The increased demand for isoprene from end-user industries, such as tires, non-tires, and adhesives will significantly influence isoprene market growth in this region over the forecast period.
38% of the market’s growth will originate from Europe during the forecast period. The Russian Federation is the key market for isoprene in Europe. Market growth in this region will be slower than the growth of the market in South America, MEA, and APAC.
Tires and tire products dominated the consumption of polyisoprene elastomers in 2019, followed by mechanical rubber goods. End-use industries, such as medical applications and footwear, are some other prominent ones. Medical applications are expected to have the fastest consumption growth during the forecast period. The manufacturers of latex-free surgical gloves highly prefer polyisoprene.
The growth of the Isoprene market share by the polyisoprene segment will be faster than the growth of the market by the other segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the isoprene market size.
The tire industry is one of the key end-user industries for isoprene rubber (IR). An upsurge in natural rubber prices has impelled the tire manufacturers to substitute it with synthetic rubber. IR is one of the least expensive substitutes for natural rubber. Synthetic rubber is used to enhance the tensile strengths, thereby increasing the tire quality. Synthetic rubber also offers advantages in durability and rolling resistance. In developed countries, IR loadings are particularly high in tires driven by quality control and necessary performance requirements for high-performance tires.
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Customer landscape
Geographic Landscape
Drivers, Challenges, and Trends
Vendor Landscape
Vendor Analysis
Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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