Press release
Isoprene Market Report Growth 2018 and 2023 Size Estimation by The Goodyear Tire & Rubber, SIBUR, Royal Dutch Shell, LyondellBasell, ZEON, Ningbo Jinhai Chenguang Chemical, PJSC Nizhnekamskneftekhim, Kuraray, Chevron Phillips Chemical and Exxon Mobil
Industry/Innovation/Related News:June 26, 2018 – Yokohama Rubber Co. (Japan) introduced its new development of producing isoprene from a biomass. Considered as “the world’s first technology” that can efficiently manufacture isoprene is the breakthrough achievement of a joint research with Japanese research institute Riken and materials supplier Zeon Corp. and YRC.
The trio discovered a new isoprene-synthesizing process using a computer-based in-silico metabolic design technology – the new artificial pathway reduces that process to two stages which are not achievable by natural enzymes. Yokohama also confirmed that this technology could also be applied to butadiene-based synthetic rubber and other diene rubbers.
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Global Isoprene Market – Regional Analysis
The Asia Pacific accounts for the leading Isoprene Market due to the burgeoning industries such as construction and most importantly automotive. India, Taiwan, and South Korea countries are accounting for the largest consumer of the product. The largest number of manufacturing plants and consumption in these countries is the key driving force for the market growth in the region.
Attributing to the increasing urbanization and population in various countries such as such as China, India, Japan, and Indonesia, the Asia Pacific Isoprene Market is predicted to experience a rapid growth, retaining its hegemony over the global market during the forecast period as well, followed by the North America and Europe region respectively.
North America region accounts for the world’s second-largest market for Isoprene, perceiving the huge demand from the automotive industry backed by the considerable demand for commercial vehicles in the region. Markets in the developed economies witness immense potential in the world of Isoprene owing to their easy and cost-effective production processes. Perceiving an augmenting demand for automobile and medical appliances, the US and Canada will account for a key contributor to the market growth in the region.
Owning a substantial market share, the US accounts for one of the largest five commercial vehicle manufacturing countries which makes the country, a dominant driving force, contributing to the market growth in the region. The region is projected to grow significantly during the review period.
The Europe Isoprene market is one of the promising market expected to witness steady growth in the next six years. The presence of a well-established automobile industry coupled with the growing markets in the countries such as Germany, Spain, the UK, France, and Russia predominantly support the market growth in the region. In Europe, the demand for Isoprene is predicted to grow in the cosmetic products industry owing to the growing awareness and increasing purchasing power of consumers.
Global Isoprene Market – Competitive Analysis
The competitive market of Isoprene appears to be fragmented owing to a huge number of companies operating in the market, churning the market competition. Increasing innovations and technologies will generate strong investment opportunities for the players. They strive to continue to commercialize other technologies helpful in lowering the cost of production.
To gain the competitive advantage, these players try to attain expertise in equipment, managing supply chains and in-depth domain knowledge in a number of advanced materials in addition to the prevailing strategies such as acquisition, partnership, and expansion of manufacturing facilities.
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