According to ChemAnalyst report, “Global Isoprene Rubber Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2032” The Isoprene Rubber market witnessed steady growth in the historical years and is estimated to reach a market volume of 1200 thousand tonnes with a CAGR of 5.24% until 2032. Growing demand of Isoprene Rubber due to its wide usage in the Automotive, Latex Products, Industrial are likely to drive the Isoprene Rubber market in the forecast period.
Isoprene Rubber is a synthetic elastomer which is obtained by polymerization of synthetic isoprene, which sourced from the thermal cracking of the naphtha fraction of petroleum. After this, polymerization is conducted in solution, using anionic and Ziegler-Natta catalysts. Isoprene rubber is a useful material for many technical applications due to its exceptional mechanical qualities and low price. Automobile tires, springs, bearings, drive connectors, anti-vibration mounts, and adhesives are a few examples of common applications. Properties of isoprene rubber, including high tensile strength and elongation, drives its applications in the glove and balloon industry along healthcare sector. This rubber is also used for the production of tyres and footwear.
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The primary driver of the global Isoprene Rubber market is accounted by the Automotive sector. With the rapid urbanization, the demand for light-vehicles for transportation of goods along with personal vehicles is anticipated to propel the isoprene rubber market. The growth of the market will further be driven by increasing patient safety and increasing public knowledge of substitutes for traditional rubber materials used in the production of various medical devices. Surgical gloves are becoming more and more essential in the medical industry, which contributes to the global Isoprene Rubber market.
The global Isoprene Rubber market is segmented based on end-use, sales channel, and region. Based on the end-user industry, the global Isoprene Rubber market is segmented into Automotive, Latex Products, Industrial, and Others. Among these, the Automotive sector is dominating the Isoprene Rubber market. Because of its high tensile strength, isoprene rubber is used to make tyres, springs, elastic bands, and conveyor belts along with other latex products like balloons and gloves.
Regionally, Asia Pacific region is dominating the isoprene rubber market. This region held a market share of approximately 40% in 2022 followed by Europe. With growing healthcare facilities and opening up of new clinics coupled with rapidly growing population in developing countries like India, Japan, and China are imposing a higher demand for latex material products like gloves, which is anticipated to propel the isoprene rubber market furthermore. Based on production, Russia is dominating the isoprene rubber market followed by Asia Pacific region with China being the key player.
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“Global Isoprene Rubber Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2032”, Significant players operating in the global Isoprene Rubber market are PJSC Nizhnekamskneftekhim, LLC Tolyattikauchuk, Qingdao Yikesi New Material Co., Ltd., Jilin Xingyun Chemical Co., Ltd., Zibo Luhua Hong Jin New Material Co.,Ltd., Goodyear Tire and Rubber Company, B.F Good Rich, Kraton JSR Elastomers K.K, ZEON CORPORATION, and Others.
“Isoprene Rubber is a versatile synthetic rubber which displays properties like flexibility, extrudability, and durability which is used for crafting numerous rubber products, but primarily for automobile tyres, which is the primary application of isoprene rubber. Moreover, rising demand for Isoprene Rubber as a replacement to conventional rubber is likely to offer a huge potential in the market over the forecast years therefore, it is crucial to track its market growth followed by the region that is expected to grab the biggest market share in the upcoming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
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