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The polyisoprene rubber market size is forecast to increase by USD 227 million, at a CAGR of 8.5% between 2023 and 2028. The tire industry is experiencing a significant surge in demand due to the increasing global automobile production and sales. Additionally, industrialization at an unprecedented rate in emerging economies is fueling this trend. Another sector driving the growth of the rubber industry is healthcare and medical applications. Natural rubber, derived primarily from the Hevea brasiliensis tree, is a key component in various medical devices, such as catheters, gloves, and tubing. The versatility and elasticity of rubber make it an indispensable material in these applications. Furthermore, the growing aging population and increasing healthcare expenditures in developed countries are expected to boost demand for medical rubber products. In summary, the tire industry's growth, coupled with the expanding medical and healthcare sector's needs, ensures a robust future for the rubber industry.
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The market is primarily driven by its extensive applications in various industries, including Tires, Belts, Footwear, Medical accessories, and Adhesives & Sealants. The synthetic isoprene market holds significant potential due to its superior weather resistance properties, making it an ideal substitute for natural rubber derived from the Hevea Brasiliensis tree. In the Automotive sector, polyisoprene rubber is widely used in the manufacturing of tires and belts due to its excellent resistance to oil, gasoline, and ozone. In the Medical field, it is used in the production of Medical gloves, Medical balloons, and Medical devices, owing to its biocompatibility and durability. The polymer structure of polyisoprene rubber provides it with excellent elasticity and resistance to wear and tear. The technology used in the production of polyisoprene rubber has advanced significantly, enabling the production of high-performance materials. The Synthetic isoprene market also finds applications in the production of Weather resistance products, including contraceptives. With the increasing awareness about unplanned pregnancies and the development of wearable contraceptives, the demand for polyisoprene rubber in this sector is expected to grow. Isoprene monomer is the primary raw material used in the production of polyisoprene rubber. Its properties, such as weather resistance and elasticity, make it an ideal choice for various applications. The market for polyisoprene rubber is expected to witness steady growth in the coming years due to its versatility and performance advantages.
Increasing demand from the tire industry is notably driving market growth. The polyisoprene rubber market holds significant importance in the tire industry due to its extensive usage in tire production. The automotive sector is the largest consumer of polyisoprene rubber, accounting for a substantial market share. The rising prices of natural rubber have encouraged tire manufacturers to substitute it with synthetic rubbers, such as polyisoprene, which is less expensive. Synthetic rubber's adoption is increasing due to its superior qualities, including enhanced tensile strength, durability, and rolling resistance. These features make it an ideal choice for passenger car and motorcycle tires, delivering excellent grip performances.
Moreover, polyisoprene rubber offers superior weather resistance, making it suitable for various applications, including condom designs and wearable contraceptives. Its resistance to pathogens and resealability properties make it an excellent alternative to natural rubber in the production of contraceptives, helping to prevent unplanned pregnancies. Additionally, its needle penetration resistance is a significant advantage in the medical industry for various applications. Thus, such factors are driving the growth of the market during the forecast period.
Rising demand for biomass-derived polyisoprene rubber is the key trend in the market. The polyisoprene rubber market is experiencing significant growth due to the increasing demand for sustainable and eco-friendly rubber products. Isoprene monomer, the primary building block of polyisoprene, is commonly derived from petroleum-based feedstocks. However, the use of bio-based feedstocks in its production is gaining popularity. This shift is driven by the rising concern for sustainability and the high prices and uncertain supply of traditional monomers and natural rubber. Key market players are focusing on developing bio-based raw materials for the production of polyisoprene rubber.
For instance, ZEON, a Japanese chemical manufacturer, has partnered with THE YOKOHAMA RUBBER and RIKEN to produce isoprene from biomass. The resulting polyisoprene rubber offers superior properties such as excellent wear resistance, resealability, and needle penetration resistance, making it ideal for various applications, including contraceptives. In the field of contraceptives, wearable technologies and condom designs are increasingly incorporating polyisoprene rubber due to its resistance to pathogens and weather conditions. This trend is expected to continue, as unplanned pregnancies remain a significant global health concern. Therefore, the demand for bio-based polyisoprene rubber is anticipated to increase, as it offers a sustainable alternative to traditional rubber products. Thus, such trends will shape the growth of the market during the forecast period.
Recovery of the natural rubber market is the major challenge that affects the growth of the market. The Polyisoprene Rubber Market is experiencing significant growth due to the unique properties of this synthetic rubber, particularly its superior weather resistance. The polymer structure of Polyisoprene Rubber is identical to that of natural rubber, derived from the Isoprene monomer. This similarity offers advantages in applications where natural rubber's susceptibility to pathogens is a concern, such as in contraceptives. Innovations in contraceptive technology, including wearable contraceptives and advanced condom designs, are driving the demand for Polyisoprene Rubber. These new products require enhanced resealability and needle penetration resistance, which Polyisoprene Rubber provides. The market's growth is further fueled by the increasing global focus on reducing unplanned pregnancies and improving sexual health. Despite the challenges posed by raw material availability and production costs, the future of the Polyisoprene Rubber Market looks promising. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The tire segment is estimated to witness significant growth during the forecast period. The Synthetic isoprene market is experiencing significant growth, particularly in segments such as Tires, Belts, Footwear, Medical accessories, and Adhesives & Sealants. In the Tires sector, the increasing demand for automobiles and the rise in automotive productivity worldwide are key growth drivers. For instance, global car sales reached approximately 66.7 million units in 2021, up from around 63.8 million units in 2020. Polyisoprene rubber, a synthetic elastomer with the chemical formula C5H8, is widely used in tire manufacturing due to its weather-resistant properties and ability to meet high standards, including those for steel-reinforced radial tires.
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The tire segment accounted for USD 276.90 million in 2018. In the Medical sector, polyisoprene is used in various applications such as Medical gloves, Medical balloons, Catheters, Fluid transport tubing, and Surgical tubing. In the Automotive sector, polyisoprene is also used in the production of Belts and Hoses. Additionally, the market for Medical devices and Industrial gloves is expanding, further boosting demand for this versatile raw material. The Construction sector also utilizes polyisoprene in applications such as Condoms and Sealants. As the world transitions to electric and driverless cars, there is a growing need for lightweight and durable materials to replace traditional ones like polystyrene, Butadiene, and Neoprene. CO2 emissions regulations and the Tire labeling system are also driving the adoption of polyisoprene rubber in the tire manufacturing industry.
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APAC is estimated to contribute 52% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The increased use of polyisoprene rubber in end-user industries, especially in tire production applications will facilitate the polyisoprene rubber market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
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Polyisoprene rubber is a high-performance synthetic elastomer in tires, adhesives, and medical devices Polyisoprene rubber, a synthetic elastomer with the chemical formula C5H8, is gaining significant traction in various industries due to its superior properties. Unlike natural rubber derived from the Hevea Brasiliensis tree, polyisoprene rubber is free from impurities and offers consistent quality. The automotive sector is a major consumer of polyisoprene rubber, primarily used in tire manufacturing for enhanced performance and durability. In tires, polyisoprene rubber provides excellent weather resistance properties, making it a preferred choice for automotive vehicles in diverse climatic conditions. Beyond tires, polyisoprene rubber finds extensive applications in belts, footwear, adhesives, sealants, and medical accessories. In the medical field, it is used in the production of medical gloves, medical balloons, catheters, and fluid transport tubing.
Further, the synthetic isoprene market is expected to grow in the medical device market, driven by the increasing demand for high-quality medical supplies. The sales of polyisoprene rubber are also influenced by the construction sectors, condoms, and OEM industries. As the world shifts towards electric cars and driverless cars, polyisoprene rubber's demand in the automotive sector is expected to increase due to its lightweight and superior performance characteristics. However, the market faces competition from substitute materials such as polystyrene, butadiene, and neoprene. The tire labeling system and CO2 emissions regulations may also impact the sales of polyisoprene rubber in the tire manufacturing industry.
Market Scope |
|
Report Coverage |
Details |
Page number |
148 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.5% |
Market growth 2024-2028 |
USD 227 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.66 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 52% |
Key countries |
China, US, Japan, Germany, and Russia |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Bridgestone Corp., Chemspec Ltd., China Petrochemical Corp., DuPont de Nemours Inc., Eni SpA, JSR Corp., Kent Elastomer Products Inc., Kraton Corp., KURARAY Co. Ltd., Lanxess AG, Lotte Corp., Ningbo Jinhai ChenguangChemical Corp., Puyang United Chemical Co. Ltd., Qingdao Tpi New Material Co. Ltd., SIBUR Holding PJSC, Sintez Kauchuk JSC, The Goodyear Tire and Rubber Co., TotalEnergies SE, Yokohama Rubber Co. Ltd., and Zeon Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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