DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Isoprene Market by Type (Polymer grade, Chemical grade), Application (Polyisoprene, Styrene isoprene styrene, Isobutyl isoprene rubber), End-Use Industry (Tires, Non-tires, Adhesives), and Region - Global Forecast to 2021" report to their offering.
The isoprene market was valued at USD 1.93 Billion in 2015, and is projected to reach USD 2.96 Billion by 2021, at a CAGR of 7.4% from 2016 to 2021
Isoprene is used in several end-use industries, such as tires, non-tires, adhesives, and other industries. The increasing usage of synthetic rubber in these industries is expected to drive the isoprene market.
Based on type, the isoprene market is segmented into polymer grade and chemical grade. Polymer grade is the most widely used isoprene type. This type of isoprene is used in different applications due to its properties similar to natural rubber. Also, it has more consistency than natural rubber in strength, cure rate, processing, mixing, and molding.
In terms of application, polyisoprene accounted for the largest share of the isoprene market in 2015, due to its usage in tire & other rubber industries. The isoprene market in polyisoprene is expected to increase due to polyisoprene's consistency in terms of strength, cure rate, processing, mixing, and molding as compared to natural rubber.
Rising use of polyisoprene application in the tire industry has led to increase in demand for isoprene, globally. Increasing focus on low-rolling resistance tires to improve the fuel efficiency is further expected to fuel the isoprene market during the forecast period.
Europe is estimated to be the largest market for isoprene, followed by Asia-Pacific. Russia is expected to be the fastest-growing market for isoprene during the forecast period. Top producers of isoprene such as Nizhnekamskneftekhim and Sibur have their manufacturing sites located in Europe.
- Growth in the Synthetic Rubber Industry to Increase the Production of Isoprene
- Demand for Polyisoprene Rubber in the Medical Sector
- Regulations in the Rubber Manufacturing Industry
- Developing Countries in Asia-Pacific Offer Huge Growth Opportunities
- Growing Demand for Improved Performance and Low Rolling Resistance Tires Providing Growth Opportunities for Isoprene
- Price Sensitivity in the Market Due to the Demand-Supply Gap
- Crude Oil Price Fluctuations
- Braskem S.A.
- Finetech Industry Ltd
- Fortrec Chemicals and Petroleum Pte Ltd.
- Haihang Industry Co. Ltd.
- JSR Corporation.
- Kuraray Co. Ltd.
- Lyondellbasell Industries N.V.
- Ningbo Jinhai Chenguang
- PJSC Nizhnekamskneftekhim
- Royal Dutch Shell PLC.
- Shandong Yuhuang Chemical Group Co. Ltd.
- The Goodyear Tire and Rubber Company.
- Zeon Corporation
For more information about this report visit http://www.researchandmarkets.com/research/6xblqk/isoprene_market