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Polyisoprene Rubber Market Analysis APAC, Europe, North America, South America, Middle East and Africa - China, US, Japan, Germany, Russia - Size and Forecast 2024-2028

Polyisoprene Rubber Market Analysis APAC, Europe, North America, South America, Middle East and Africa - China, US, Japan, Germany, Russia - Size and Forecast 2024-2028

Published: Jul 2024 148 Pages SKU: IRTNTR73616

Market Overview at a Glance

$227 Mn
Market Opportunity
8.5%
CAGR
7.66
YoY growth 2023-2024(%)

Polyisoprene Rubber Market Size 2024-2028 

The polyisoprene rubber market size is forecast to increase by USD 227 million at a CAGR of 8.5% between 2023 and 2028. The market is experiencing significant growth due to various driving factors. One key trend is the increasing demand for polyisoprene rubber in the healthcare sector, particularly for use in catheters, fluid transport tubing, and surgical tubing. In addition, the construction industry is also a significant consumer of polyisoprene rubber, utilizing it for industrial gloves and other applications. Another growing market is the production of condoms, which require high-quality, consistent materials. Furthermore, the shift towards the use of biomass-derived polyisoprene rubber is gaining momentum due to its environmental benefits, such as reduced CO2 emissions compared to traditional synthetic rubber production methods.

What will be the Size of the Market During the Forecast Period?

Polyisoprene Rubber Market Size

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Polyisoprene rubber, a synthetic elastomer derived from isoprene monomer, has gained significant traction in various industries due to its unique properties. This elastomeric material offers excellent weather resistance, making it an ideal choice for applications in sectors such as automotive and medical. Isoprene monomer, the primary raw material for producing polyisoprene rubber, is derived from petroleum or natural sources like the Hevea brasiliensis tree. The polymer structure of polyisoprene rubber is identical to that of natural rubber, providing it with similar elasticity and flexibility. However, its synthetic nature offers additional benefits, including improved weather resistance and resistance to pathogens.

Moreover, the automotive sector is a significant consumer of polyisoprene rubber. Its use in the production of tires, belts, and sealants ensures improved performance and durability in extreme weather conditions. In the medical sector, this material is extensively used in the manufacturing of medical devices, such as medical gloves and balloons, due to its biocompatibility and resistance to tears and punctures. Adhesives and sealants are another major application area for polyisoprene rubber. Its ability to form strong bonds and withstand various temperatures and weather conditions makes it an excellent choice for these applications. Moreover, its resistance to pathogens makes it suitable for use in medical applications, such as wound care and medical equipment.

Furthermore, polyisoprene rubber's weather resistance also makes it an attractive alternative to natural rubber in various industries. Its use in the production of contraceptives, such as wearable contraceptives and condom designs, offers enhanced protection against unplanned pregnancies and sexually transmitted infections. The market is expected to grow due to its versatility and unique properties. Its applications span across various industries, including automotive, medical, and industrial, making it a valuable raw material for manufacturers. As the demand for high-performance materials continues to grow, the market for polyisoprene rubber is poised to expand. In conclusion, polyisoprene rubber is a valuable synthetic elastomer with unique properties that make it an ideal choice for various applications.

Market Segmentation

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.

  • Application
    • Tire
    • Non-tire
  • Geography
    • APAC
      • China
      • Japan
    • Europe
      • Germany
    • North America
      • US
    • South America
    • Middle East and Africa

By Application Insights

The tire segment is estimated to witness significant growth during the forecast period. The market is experiencing significant growth, particularly in the tire manufacturing sector. The increasing global demand for automobiles, with sales reaching approximately 66.7 million units in 2021 compared to 63.8 million units in 2020, is a primary driving factor. In tire production, black-loaded compounds are extensively used due to their advantages in producing specific critical compounds, ensuring quality, uniformity, and improved flow properties.

Furthermore, these properties enable tire manufacturers to meet stringent tire standards, such as steel-reinforced radial tires. In developed economies, the tire industry relies heavily on polyisoprene rubber to meet the high-performance demands of premium tires. This synthetic elastomer, with the chemical formula C5H8, is a crucial component in the tire industry.

Polyisoprene Rubber Market Size

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The tire segment accounted for USD 276.90 million in 2018 and showed a gradual increase during the forecast period.

Regional Insights

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.

Polyisoprene Rubber Market Share by Geography

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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.

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Market Driver

Increasing demand from the tire industry is the key driver of the market. Polyisoprene rubber holds significant importance in various industries, with the tire sector being a major consumer. The automotive industry is the largest market for polyisoprene rubber due to its extensive usage in tire production, including automobile, bicycle, and aviation tires. The increasing prices of natural rubber have led tire manufacturers to seek alternatives, and polyisoprene rubber, being an affordable synthetic option, has gained popularity.

Furthermore, synthetic rubber's adoption is not only due to cost savings but also because of its enhanced product quality. It increases the tensile strength of tires, contributing to their durability and improved rolling resistance. These features make polyisoprene rubber an ideal choice for passenger car and motorcycle tires, providing superior grip performances. Beyond tires, polyisoprene rubber also finds applications in other industries such as belts, footwear, medical accessories, medical gloves, and medical balloons. In summary, the versatility and affordability of polyisoprene rubber make it an indispensable component in various industries, with the tire sector leading the market.

Market Trends

Rising demand for biomass-derived polyisoprene rubber is the upcoming trend in the market. The production of synthetic rubber utilizing bio-based feedstock is an emerging trend in the industry. The drive towards sustainability is fueling the rapid advancement of renewable chemicals used in rubber manufacturing. The escalating costs and unpredictable availability of monomers and natural rubber have encouraged the adoption of renewable feedstock in the synthesis of synthetic rubber. Key market participants are actively investing in producing polyisoprene rubber from bio-sources. They are forging alliances with industrial biotech companies to progress the commercial production of bio-based raw materials.

Furthermore, this shift towards sustainable rubber production is gaining traction in various sectors, including medical, industrial, and consumer goods, such as catheters, fluid transport tubing, surgical tubing, industrial gloves, construction sectors, condoms, and more.

Market Challenge

Recovery of the natural rubber market is a key challenge affecting the market growth. The Synthetic Isoprene market, specifically in the sectors of Adhesives and Sealants, has experienced significant growth due to the advantages offered by polyisoprene rubber. This raw material, which can be both synthetic and derived from natural rubber, boasts superior weather-resistant properties, making it an ideal choice for various applications. In the medical device industry, for instance, its use is prevalent due to its biocompatibility and flexibility. In the Automotive sector, the adoption of polyisoprene rubber in vehicle manufacturing has increased due to its durability and resistance to extreme temperatures.

Further, the recent increase in natural rubber prices has been a significant factor contributing to the growth of the synthetic isoprene market. This trend can be attributed to various factors, including the Organization of the Petroleum Exporting Countries' (OPEC) decision to cut crude oil supply, which led to a rise in crude oil prices. Consequently, the prices of natural rubber, a primary raw material for synthetic isoprene production, also increased. This development has made synthetic isoprene a more cost-effective alternative, leading to its increased adoption in various industries. In conclusion, the synthetic isoprene market is poised for continued growth in the US market due to its versatility, durability, and weather-resistant properties.

Exclusive Customer Landscape

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.

Polyisoprene Rubber Market Share by Geography

 Customer Landscape

Key Companies & Market Insights

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.

JSR Corp.: The company offers polyisoprene rubbers for tires, belts, various industrial products, shoes, adhesives, rubber threads, rubber bands, surgical gloves, and balloon catheter.

The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

  • 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.
  • Zeon Corp.

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.

Research Analyst Overview

The synthetic isoprene market is witnessing significant growth due to the increasing demand for polyisoprene rubber in various industries. This synthetic elastomer is widely used in the production of tires, belts, footwear, medical accessories, and adhesives and sealants. In the automotive sector, polyisoprene is preferred for its weather-resistant properties, making it an ideal choice for tire manufacturing. The medical devices industry is another major consumer of polyisoprene rubber. It is extensively used in the production of medical gloves, catheters, fluid transport tubing, and surgical tubing. The material's excellent resistance to pathogens makes it a popular choice in medical supplies.

Further, the construction sector also utilizes polyisoprene rubber in the production of industrial gloves, providing workers with enhanced protection against harsh environments. The material's versatility extends to the production of condoms, where it offers superior wearability, resealability, and needle penetration resistance. The tire manufacturing industry's shift towards producing tires for electric and driverless cars is expected to further boost the demand for polyisoprene rubber. However, the increasing focus on reducing CO2 emissions and the availability of substitute materials like polystyrene, butadiene, and neoprene may pose a challenge to the market's growth. Polyisoprene rubber, also known as C5H8, is a synthetic elastomer derived from the isoprene monomer.

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, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period

Customization purview

If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research and Growth Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
  • Precise estimation of the size of the market  and its contribution of the market in focus to the parent market
  • Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
  • Growth of the market across APAC, Europe, North America, South America, and Middle East and Africa
  • Thorough analysis of the market's competitive landscape and detailed information about companies
  • Comprehensive analysis of factors that will challenge the growth of market companies

We can help! Our analysts can customize this market research report to meet your requirements. Get in touch

Table of Contents not available.

Research Methodology

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

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape

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Frequently Asked Questions

Polyisoprene Rubber market growth will increase by $ 227 mn during 2024-2028.

The Polyisoprene Rubber market is expected to grow at a CAGR of 8.5% during 2024-2028.

Polyisoprene Rubber market is segmented by Application( Tire, Non-tire)

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., Zeon Corp. are a few of the key vendors in the Polyisoprene Rubber market.

APAC will register the highest growth rate of 52% among the other regions. Therefore, the Polyisoprene Rubber market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.

China, US, Japan, Germany, Russia

  • Increasing demand from the tire industryThe tire industry is one of the key end-user industries of polyisoprene rubber. The automotive sector accounts for the maximum share of the global polyisoprene rubber market in terms of consumption as it is extensively used in the production of tires and tire products is the driving factor this market.
  • including auto tires is the driving factor this market.
  • bicycle tires is the driving factor this market.
  • and aircraft tires. An upsurge in natural rubber prices has impelled tire manufacturers to replace it with synthetic rubbers is the driving factor this market.
  • among which polyisoprene rubber is one of the least expensive types. The manufacturers depend more on synthetic rubber to enhance the quality of the products by increasing the tensile strength. Furthermore is the driving factor this market.
  • synthetic rubber offers other specific features is the driving factor this market.
  • especially in the domains of durability and rolling resistance is the driving factor this market.
  • and is mostly used for passenger car and motorcycle tires as it delivers good-grip performances. Polyisoprene rubber is generally used with other rubbers. The blending of polyisoprene rubber with natural rubber or other elastomers improves tensile strength is the driving factor this market.
  • tear strength is the driving factor this market.
  • and flexibility. More than 70% of the global polyisoprene rubber consumption is used in the production of tire and tire products. In developed countries is the driving factor this market.
  • polyisoprene rubber loadings are particularly high in tires as a result of quality control and necessary performance requirements in high-performance tires. The rising focus on low-rolling-resistance tires to enhance fuel efficiency is anticipated to fuel the demand for polyisoprene rubber. The automotive industry relies on polyisoprene rubber for non-tire applications as well. The major non-tire automotive applications include motor mounts is the driving factor this market.
  • shock-absorber bushings is the driving factor this market.
  • and pipe gaskets. The rising number of automobiles across the globe and increasing demand for polyisoprene rubber for numerous applications is the driving factor this market.
  • including tire and non-tire is the driving factor this market.
  • would stimulate the growth of the global polyisoprene rubber market. The global market for passenger vehicles is expected to grow due to the improved economic outlook in developed countries is the driving factor this market.
  • such as the US is the driving factor this market.
  • and developing countries such as China and India. The increase in the number of passenger cars in APAC is due to the growth of the middle-class population is the driving factor this market.
  • increased disposable income is the driving factor this market.
  • and a rise in the employed population. The increasing demand for vehicles and the importance of polyisoprene rubber in the production of tires and non-tire components fuel the growth of the global polyisoprene rubber market. is the driving factor this market.

The Polyisoprene Rubber market vendors should focus on grabbing business opportunities from the Tire segment as it accounted for the largest market share in the base year.