Isoprene Market Size, Industry Share, Growth Trajectory, Major Trends, And Top Opportunities
18 May, 2023
The global isoprene market is expected to grow from $2.90 billion in 2022 to $3.15 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The isoprene market is expected to grow to $4.23 billion in 2027 at a CAGR of 7.6%.
Global Isoprene Market Key Driver
The rising demand for rubber is expected to propel the isoprene market forward. Rubber is a white, crumbly plastic mass that can be vulcanized. Isoprene is an all-purpose industrial chemical that is used to create a variety of rubber products, including synthetic rubber, which has numerous applications in a variety of industries. For instance, according to the Malaysian Rubber Council, a Malaysia-based agency under the Ministry of Plantation Industries and Commodities (MPIC), global exports and imports of rubber in 2021, increased by 9.6%, and 11% from 2020. Therefore, the growing demand for rubber is driving the growth of the isoprene market.
Get a sample of the global isoprene market reportGlobal Isoprene Market Segments
The global isoprene market is segmented:
1) By Type: Polymer Grade, Chemical Grade
2) By Application: Polyisoprene (IR), Styrene-isoprene-styrene (SIS), Isobutylene-isoprene rubber (IIR), Other Applications
3) By End-Use: Tires, Non-tires, Adhesives, Other End-Uses
4) By Geography: The regions covered in the isoprene market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, Asia-Pacific accounts for the largest share in the global isoprene market.
Major Isoprene Industry Players
Nizhnekamskneftekhim, SIBUR International GmbH, The Goodyear Tire & Rubber Company, Royal Dutch Shell Plc, Kuraray Co. Ltd., ZEON Corporation, LyondellBasell Industries N.V., JSR Corporation, Braskem S.A., Finetech Industry Ltd., Fortrec Chemicals & Petroleum Pte Ltd., Haihang Industry Co. Ltd., China Petrochemical Corporation, Dow, Pon Pure Chemicals Group, ExxonMobil Corporation, Shandong Yuhuang Chemical Group Co. Ltd., and Sinopec Corp.
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Isoprene Market Overview
Isoprene is a colorless, volatile liquid hydrocarbon derived from coal tar or petroleum processing. These are employed in the production of butyl and synthetic rubbers.
Isoprene Global Market Report 2023 provides data on the global isoprene market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The isoprene market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.