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The polyisoprene rubber market share is expected to increase to USD 172.54 million from 2021 to 2026, at a CAGR of 6.7%.
This polyisoprene rubber market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers polyisoprene rubber market segmentation by application (tire and non-tire) and geography (APAC, Europe, North America, South America, and Middle East and Africa). The polyisoprene rubber market report also offers information on several market vendors, 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., and Zeon Corp. among others.
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The increasing demand from the tire industry is notably driving the polyisoprene rubber market growth, although factors such as the recovery of the natural rubber market may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the polyisoprene rubber industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Polyisoprene Rubber Market Driver
One of the key factors driving growth in the polyisoprene rubber market is the increasing demand from the tire industry. The 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, including auto tires, bicycle tires, and aircraft tires. An upsurge in natural rubber prices has impelled tire manufacturers to replace it with synthetic rubbers, among which polyisoprene rubber is one of the least expensive types. The blending of polyisoprene rubber with natural rubber or other elastomers improves tensile strength, tear strength, and flexibility. The rising number of automobiles across the globe and increasing demand for polyisoprene rubber for numerous applications, including tire and non-tire, would stimulate the growth of the global polyisoprene rubber market. 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.
Key Polyisoprene Rubber Market Trend
The rising demand for biomass-derived polyisoprene rubber is a polyisoprene rubber market trend that is expected to have a positive impact in the coming years. The use of bio-based feedstock in the production of synthetic rubber is one of the rising trends. The development of renewable chemicals for the production of rubber is witnessing rapid growth on the grounds of achieving sustainability. The high prices and indefinite supply of monomers and natural rubber have stimulated the use of renewable feedstock in the production of synthetic rubber. The key players in the market are focusing on producing polyisoprene rubber from bio-based raw materials. They are entering partnerships with industrial biotech firms to advance the commercial production of bio-based raw materials. The intermittent aim of the key market players to achieve cost-effectiveness and sustainability through the development of bio-based feedstock will certainly impact the growth of the global polyisoprene rubber market.
Key Polyisoprene Rubber Market Challenge
The recovery of the natural rubber market will be a major challenge for the polyisoprene rubber market during the forecast period. The natural rubber market is witnessing a rebound in natural rubber prices, which would contribute to the regaining market prosperity. It is expected to gain from the expected trends in the crude oil market and betterment in the prices of commodities. The recovery of the prices of natural rubber is a result of certain factors that impacted the global economy as well. The decision of the Organization of the Petroleum Exporting Countries (OPEC) to cut the supply of crude oil is one of the key factors contributing to the recovery of natural rubber prices. The supply cut resulted in an increase in the prices of crude oil, which affected the prices of synthetic rubber. The increase in the price of synthetic rubber, the foremost substitute for natural rubber, resulted in an increase in the cost of production of goods that use synthetic rubber extensively, thereby leading to the speculation of a probable substitution of synthetic rubber by natural rubber. The rapid growth of the natural rubber market over the rebounding prices would affect the demand for polyisoprene rubber in various applications, thereby curbing the growth of the global polyisoprene rubber market.
This polyisoprene rubber market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global polyisoprene rubber market as a part of the global tires and rubber market within the global auto components market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the polyisoprene rubber market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the polyisoprene rubber market encompasses successful business strategies deployed by the key vendors. The polyisoprene rubber market is fragmented and the vendors are deploying growth strategies such as focusing on R&D to improve their product portfolio with the launch of innovative products to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The polyisoprene rubber market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the polyisoprene rubber market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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50% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for polyisoprene rubber in APAC. Market growth in this region will be faster than the growth of the market in other regions.
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.
COVID Impact and Recovery Analysis
Various automakers have been focusing on strategies to increase production and reduce supply chain disruptions after the COVID-19 outbreak. However, with the initiation of large-scale COVID-19 vaccination drives, the number of COVID-19 cases declined in 2021. The lifting of lockdowns led to the resumption of automotive production activities at a rapid pace in the region in Q3 and Q4 2020.
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The polyisoprene rubber market share growth by the tire segment will be significant during the forecast period. The major factors that are driving the growth of the tire segment are the increasing demand for automobiles and the increase in the productivity of automobiles across the world. For instance, car sales grew to around 66.7 million units in 2021 from around 63.8 million units in 2020 globally. Furthermore, black-loaded compounds are used for tire applications on a large scale. They are used for the production of certain critical compounds, quality, uniformity, and enhanced flow properties, which would aid the tire producers in meeting the high standards demanded of tires, including steel-reinforced radial tires.
This report provides an accurate prediction of the contribution of all the segments to the growth of the polyisoprene rubber market size and actionable market insights on post COVID-19 impact on each segment.
Polyisoprene Rubber Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Decelerate at a CAGR of 6.7% |
Market growth 2022-2026 |
$ 172.54 million |
Market structure |
Fragmented |
YoY growth (%) |
7.66 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 50% |
Key consumer countries |
US, China, Japan, Germany, and Russia |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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 the 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. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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