Press release
Global Polyisoprene Market 2019 Share, Current Trends, Opportunities, Growth Size & Forecasts 2024
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According to the recent study by IMARC Group, titled “Polyisoprene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global polyisoprene market reached a volume of 14.8 Million Tons in 2018, registering a CAGR of around 3% during 2011-2018. Polyisoprene refers to a polymer of isoprene (C5H8) which is naturally found in balata and gutta-percha. It can be synthetically produced by the polymerization of 2-methyl-1,3-butadiene with a Ziegler-Natta catalyst. Polyisoprene elastomers closely resemble natural rubber in properties as well as molecular structure. They can undergo elastic deformation under stress and return to their previous size without affecting the original form. As these elastomers are inexpensive and fatigue resistant in nature, they find applications in the production of latex products, footwear, non-automotive engineered products, rubber springs, adhesives and coatings.
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Market Drivers:
Due to its high purity and gum tensile strength, polyisoprene is widely used in food- and medical-grade products, including hospital sheeting, milk tubing, surgical gloves, baby bottle nipples and condoms. Moreover, polyisoprene is employed in the automotive industry for manufacturing tires, door and window profiles, hoses, matting, and belts. Elevating income levels have escalated the sales of automobiles which, in turn, have propelled the demand for polyisoprene in this industry. Apart from this, continuous research and development have led to the introduction of new polyisoprene compounds which exhibit properties such as low needle penetration resistance and high resealability, making them suitable for manufacturing injection septa. Further, as isoprene is the main feedstock used for making polyisoprene, its reliable supply reduces the risk of supply volatility, minimizes the issue of fluctuating supply costs and helps in efficient production planning. Looking forward, the market is projected to reach a volume of 20.2 Million Tons by 2024, expanding at a CAGR of 5.6% during 2019-2024.
Market Segmentation:
Market Breakup by Type:
1. bifurcated
2. synthetic polyisoprene
On the basis of types, the market has been bifurcated into natural and synthetic polyisoprene. Amongst these, natural polyisoprene represents the most popular product type, accounting for the majority of the total market share.
Market Breakup by Application:
1. Tires and Related Products
2. Latex Products
3. Footwear
4. Non-Automotive Engineering
5. Belting and Hose
6. Others
Based on applications, polyisoprene is largely utilized in the production of tires and related products. Other application segments include latex products, footwear, non-automotive engineering, and belting and hose.
Market Breakup by Region:
1. Russia
2. United States
3. Japan
4. China
5. Western Europe
6. Others
On a geographical front, China represents the biggest market for natural polyisoprene, whereas Russia enjoys the leading position in the synthetic polyisoprene market.
Competitive Landscape:
The competitive landscape of the polyisoprene market has also been analyzed with detailed profiles of the key players operative in the industry.
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