Isoprene Market known for its highly flammable nature, colorless liquid form-ignited quickly


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Isoprene Market - by Grade (Polymer Grade), Application (Styrene Isoprene Styrene, Isobutylene Isoprene, Polyisoprene), End Use (Automotive, Personal Care, Construction) and Region- Forecast till 2023


Synopsis of Isoprene Market:

Isoprene is a common name for the chemical compound 2-methylbuta-1,3-diene. At room temperature, purified isoprene is a highly flammable, colorless liquid that can be easily ignited. It is formed naturally in animals and plants and is the most commonly obtained during processing of petroleum or coal tar and is used as a chemical raw material. It is used to manufacture styrene isoprene styrene, isobutylene isoprene, and polyisoprene. Natural isoprene rubber offer various properties such as flexibility, and high tensile strength. Additionally, polymer grade synthetic polyisoprene has different properties than natural rubber such as it acts as viscosity increasing agent, clean and hypoallergenic.  Chemical grade polyisoprene is used for the manufacturing of tires and tubes in the automotive industry. Isobutylene Isoprene is used as a fuel and lubricant additive in the automobile industry. Isobutylene is a class of thermoplastic elastomers and it has elective usage in adhesive field where it represents the basis of pressure sensitive adhesives and hot melts.

Utilization of high-quality isoprene is overwhelmed by interest and creation of polyisoprene elastomers, which represented over 50% of aggregate isoprene utilization in 2016. As per our analysis, some of the prominent market factors and trends identified in the Global Isoprene Market include rapid construction activities, rising demand for tires from the automotive industry, and increasing expenditure on personal care products. Moreover, the demand for isoprene is predicted to witness significant growth over the assessment period due to the surging automotive industry. Rising crude oil production across the globe is anticipated to be an important driver for Isoprene Market during the review period. Increasing demand for polyisoprene products, which are having properties similar to natural rubber along with rising consumption of synthetic isoprene rubber in surgical appliances is estimated to fuel the growth of the market. Furthermore, rapid urbanization coupled with increasing disposable income in emerging economies is predicted to propel the growth of the market during the assessment period 2017-2023. However, implementation of strict regulations by various government bodies have restricted the usage of toxic organic chemicals in the production of Isoprene, which is expected to hamper the growth of the market over the given period.

 

 

 

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Regional Analysis:

The Global Isoprene Market consists of five regions: Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these, Asia Pacific is predicted to grow at the highest CAGR during the review period 2017-2023 on account of expanding medical and construction industries. The Asia Pacific Polyisoprene Market is predicted to experience a rapid growth due to increasing urbanization and population in various countries such as such as China, India, Japan, and Indonesia over the forecast period.

North American Isoprene Market is predicted to witness a tremendous growth on account of high consumption potential, increasing production capacities, and rising economic growth rate. In North American region, the U.S. & Canada are predicted to be the major contributors to the regional growth of Isoprene Market and are expected to see a significant demand for isoprene during the forecast period 2017-2023. Increasing demand for automobile and medical appliances are driving the market.  In Europe, the demand for Isoprene is predicted to grow in various countries such as Italy, Germany, Spain, the UK, France, and Russia on account of increasing expenditure in innovation in automobile, cosmetic products awareness and growing purchasing power of consumers. Moreover, presence of major automobile manufacturers, specifically, in Germany is expected to give a new impetus to the market growth. In the Middle East, the growing demand from construction and automobile industries are likely to boost the isoprene market over the forecast period. Latin American countries such as Argentina, Colombia, and Brazil are also predicted to witness a substantial growth owing to increasing consumer spending on passenger cars as well as involvement of new technologies and inventions in isoprene.

 

Segmentation:

The Global Isoprene Market is categorized on the basis of grade, application, and region. On the basis of grade, the market is bifurcated into polymer grade, and chemical grade. On the basis of application, the Isoprene Market is categorized into styrene isoprene styrene, block copolymer, isobutyl isoprene, polyisoprene. On the basis of the region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.

Key Players:

Some of the prominent players operating in the Global Isoprene Market are The Goodyear Tire & Rubber Company (the U.S.), SIBUR (Russia), Royal Dutch Shell plc (the Netherlands), LyondellBasell Industries N.V. (the Netherlands), ZEON CORPORATION (Japan), Ningbo Jinhai Chenguang Chemical Corporation (China), PJSC Nizhnekamskneftekhim(Russia), Kuraray Co., Ltd (Japan), Chevron Phillips Chemical Company (the U.S.), and Exxon Mobil Corporation (the U.S.)  among others.

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