Isoprene is a colorless, volatile liquid that is a significant feedstock in the production of synthetic rubbers and other high-value chemicals. It is a natural product that is found in many plants and animals, and is also produced by some bacteria. Isoprene has a variety of industrial applications, including the production of synthetic elastomers, adhesives, and coatings.
The global isoprene market is driven by the increasing demand for synthetic rubber in the automotive and construction industries. The market is expected to grow rapidly in the coming years due to the rising demand for high-performance tires, increasing investments in the construction industry, and the growing use of synthetic rubber in the medical sector.
The isoprene market is segmented into two types: polymer grade and chemical grade. Polymer grade isoprene is used mainly in the production of synthetic rubber, while chemical grade isoprene is used in the production of other chemicals and solvents. Polymer grade isoprene dominates the market due to its high demand in the synthetic rubber industry.
Isoprene Market is likely to witness an impressive CAGR of 9.2% during the forecast period. Growing use of synthetic rubber in various end-use industries, such as tire, adhesives, and non-tire is driving the isoprene market globally.
Some of the isoprene manufacturers are-
Sibur, PJSC Nizhnekamskneftekhim, The Goodyear Tire and Rubber Company, Royal Dutch Shell PLC, Lyondellbasell Industries N.V., Zeon Corporation, Kuraray Co. Ltd., Ningbo Jinhai Chenguang, Shandong Yuhuang Chemical Group Co. Ltd., Finetech Industry Ltd., Haihang Industry Co. Ltd., Fortrec Chemicals and Petroleum Pte Ltd., Braskem S.A., and JSR Corporation.
In terms of regions, Asia-Pacific is estimated to offer substantial growth opportunities in the coming five years for isoprene. China and India are the growth engines of the region. The market is sustained by the increasing demand for isoprene by various end-use industries. North America and Europe are also expected to offer considerable growth opportunities during the forecast period.
In conclusion, the isoprene market is expected to continue growing in the coming years due to the increasing demand for synthetic rubber and other high-value chemicals. The market is driven by the advancements in technology, rising investments in research and development, and the growing demand from end-use industries.