Global Market Insights, Inc present the report on global Isoprene Market evaluates the growth trends of the industry through historical study and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2019-2025.
Isoprene Market size is expected to see noticeable growth owing to rising demand of synthetic and natural rubber from growing automobile and footwear industry in coming years. Isoprene or 2-methyl-1,3-butadiene, is a volatile colorless liquid, naturally produced and emitted by several animals and trees. The product can be obtained industrially as a byproduct in the production of ethylene. Most of the product is used for manufacturing of synthetic rubber polyisoprene, which is used in several end-user industries.
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According to International Natural Rubber Study Group, demand for natural rubber is likely to be driven by emerging and recovering mature end-user market such as automotive, footwear, construction, etc. Rising production of natural rubber shall steer the product market growth over the forecast period. Also, growing demand of personal vehicles in emerging markets may fuel Isoprene market growth in the forthcoming years.
Isoprene is also used in the production of rubber adhesives and sealants which finds application in manufacturing, assembly and construction industry. Growth of these industries in emerging economies such as India, Malaysia, Brazil shall spur the product demand during forecast period.
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Isoprene market is segmented by grade type which includes chemical grade and polymer grade. Rise in favorable trends in global tire industry such as growing demand for high performance tires in passenger car segment, shall drive the product demand. The overall market is categorized into various applications such as polyisoprene, isoprene rubber (IR), styrene-isoprene-styrene (SIS) and others. Polyisoprene is one of the major segments owing to its large application base in tire manufacturing.
Styrene-isoprene-styrene shall witness strong growth rate due to disappearing technical barriers. Market segmentation based on the basis of end use industry is bifurcated into natural & synthetic rubber, adhesives & sealants and others. Natural & synthetic rubber attained the largest industry share in 2018 and is likely witness similar trends during the forecast period.
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Key product manufacturers in the isoprene market are Royal Dutch Shell PLC., Kraton Corporation, Kuraray Co., JSR Corporation, Precision Dippings Manufacturing Ltd., Amyris Inc., Zeon Corporation and Exxon Mobil Corporation.
Acquisitions & mergers and expansion of capacity are some of the strategies manufactures incorporate to increase the market share and growth rate. For instance, Kraton Corporation acquired Arizona Chemical Holdings Corporation in 2016 and Kraton opened 30 kiloton hydrogenated styrenic block copolymer (HSBC) plant in Mailiao, Taiwan in 2017.
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