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Polyisoprene Industry Overview
The global polyisoprene market size is expected to reach USD 2.94 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.1% from 2021 to 2028. Increasing adoption of polyisoprene in the automotive, footwear, medical, non-automotive sectors is projected to fuel the market growth during the forecast period. The product is also expected to have a high demand in the tires related products application due to the product properties like excellent resistance to abrasion tearing and high compression set along with the increasing demand for Electric Vehicles (EVs).
Polyisoprene Market Segmentation
Grand View Research has segmented the global polyisoprene market on the basis of application and region:
Based on the Application Insights, the market is segmented into Tires Related Products, Latex, Footwear, Non-automotive Engineering, Belts Hose, Others.
- The tires related product application segment dominated the market with a revenue share of more than 68% in 2020. Polyisoprene provides uniformity and higher flow properties allowing tire manufacturers to meet the high standard of steel-reinforced radial tires.
- The growing consumption of polyisoprene in tires, particularly green tires, is expected to drive the tires and polyisoprene industry expansion. Furthermore, the increasing demand for EVs and the rising disposable income levels are anticipated to fuel the market growth during the forecast period.
- The growing product usage in the healthcare, coatings and adhesive sectors is expected to stimulate polyisoprene demand for the production of latex for medical gloves. This is due to the fact that isoprene-based latex exhibits good tear strength and tear resistance.
- Moreover, rising awareness about contagious diseases, such as COVID-19, is anticipated to drive the market for polyisoprene in the medical sector. The spread of the Delta variant of COVID-19 has resulted in increased demand for medical equipment like medical gloves, septum, and injection sites for fluid transfer, which will also drive the market.
- Polyisoprene offers several benefits over natural rubber, such as higher tensile and shear strength, which has resulted in the utilization of polyisoprene in safety footwear as well as hoses that are used in the oil gas, construction, steel, and chemical manufacturing industries.
Polyisoprene Regional Outlook
- North America
- Europe
- Asia Pacific
- Central South America
- Middle East Africa (MEA)
Key Companies Profile Market Share Insights
The market is highly competitive due to the presence of several regional and global players. Leading market players compete based on their product development capabilities and new technologies used in product formulations. Established oil gas companies, such as ENEOS, are implementing different strategic initiatives to enter into the elastomer manufacturing business.
Some prominent players in the global polyisoprene market include
- Zeon Corp.
- JSR Corp.
- PJSC Nizhnekamskneftekhim
- The Goodyear Tire Rubber Company
- Kuraray Co., Ltd.
Order a free sample PDF of the Polyisoprene Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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Grand View Research, Inc.
Phone: 1-415-349-0058
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Email: sales@grandviewresearch.com
