Press release
Polyisoprene Market Size To Grow At A CAGR Of 5.5% In The Forecast Period Of 2023-2028
Polyisoprene Market
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
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Polyisoprene Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
Historical Market Size (2022): almost 17.59 million tons
Forecast CAGR (2023-2028): 5.5%
Forecast Market Size (2028): almost 24.26 million tons
The polyisoprene market is being driven by the increasing demand and sale of vehicles which is ultimately fuelling the demand for tyres and related products that utilise polyisoprene. Rising disposable incomes is escalating the standards of living across the emerging economies, which is further fuelling the market for polyisoprene. Moreover, growing efforts by leading market players to manufacture better consumer products, is increasing the incorporation of polyisoprene in the manufacture of hoses, belts, door and window profiles, and matting, among others.
The use of polyisoprene in latex medical and food-grade products, such as surgical gloves, milk tubing, and hospital sheeting, among others, is increasing rapidly due to its features like high purity and gum tensile strength. The high resistance to abrasion property of polyisoprene and its ability to maintain the shape and flexibility of the tubes even in the extreme temperatures make it suitable for use in the manufacture of medical and surgical tubing.
The increasing use of polyisoprene in the packaging of food and beverages is contributing to the growth of the polyisoprene market. It is durable which makes it suitable to withstand a challenging supply chain environment such as fluctuations in temperature and various other rigors. They help in protecting the integrity of the products packed inside, making it ideal for food packaging.
Polyisoprene Industry Definition and Major Segments
Polyisoprene, also termed as a polymer of isoprene (C5H8), refers to a synthetic polymer that occurs naturally in gutta-percha and rubber. This chemical compound finds application in products such as rubber bands, baby bottle nipples, hoses, and cut threads, among other downstream products. Mineral-filled polyisoprene is commonly found in sponges, footwear, and sporting goods.
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Based on type, the market is segmented into:
Natural
Synthetic
On the basis of application, the market is classified into:
Tyres and Related Products
Latex Products
Footwear
Non-Automotive Engineering
Belting and Hose
Others
Based on region, the market is categorised into:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Polyisoprene Market Trends
The key trends in the polyisoprene market include the development of advanced technologies for the production of polyisoprene. Increasing use of metallocene catalysts in the production process are resulting in improved performance and properties of polyisoprene. This further increases its demand from various industries to create better consumer products which is ultimately contributing to the growth of the market for polyisoprene.
As polyisoprene is considered to offer similar benefits and properties as natural rubber latex, its demand and usage are steadily rising. Growing awareness regarding the properties of polyisoprene such as resilience, elasticity, and resistance to tear and abrasion.
Europe accounted for a large share in the market for polyisoprene owing to the presence of well-developed oil and gas sectors and automotive industries in the region. Meanwhile, the Asia Pacific region is anticipated to observe a significant growth in the forecast period owing to the robust growth of the end-use sectors such as medical, construction, and automotive in countries such as India, and China. Moreover, the rising demand for the vehicles has increased its production in countries such as South Korea, India, China, Japan, and Indonesia helping the polyisoprene market to grow further with time.
Key Market Players
The major players in the global polyisoprene market report are :
PJSC Nizhnekamskneftekhim
Kuraray Europe GmbH
Shell Chemicals
Kent Elastomer Products, Inc
ExxonMobil Chemical
others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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