How Has the Isoprene Market Size Evolved in Recent Years?
The isoprene market has seen considerable growth due to a variety of factors.
• The isoprene market has been experiencing significant growth lately. Its market size is anticipated to expand from $3.36 billion in 2024 to $3.63 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 8.1%. Factors such as research and development initiatives, the adhesive and sealants market, consumer goods manufacturing, the growth of the chemical industry, and increased demand in the footwear sector have contributed to the growth in the history period.
What are the Market Size and Expected Growth Rates for the Isoprene Market?
The Isoprene market is expected to maintain its strong growth trajectory in upcoming years.
• The isoprene industry is forecasted to experience substantial expansion in the coming years. It is projected to reach a market value of $5.1 billion by 2029, with a compound annual growth rate (CAGR) of 8.9%.
Various factors such as stringent rules and sustainability, bio-based isoprene production, increasing construction activities, and a move towards green tires contribute to the growth during the forecast period. Anticipated trends during this phase include research and development for innovative uses, product advancements, a transition to renewable materials, emphasis on specialty elastomers, and innovations in the tire industry.
Which Key Drivers Are Propelling The Isoprene Market's Growth?
The surge in demand within the rubber industry is anticipated to spur the expansion of the isoprene market. Essentially, rubber is a whitish, crumbly, plastic-like substance that can be manipulated and vulcanized. Isoprene, a wide-ranging industrial chemical, is utilised in the creation of various rubber products, including synthetic rubber, which finds multiple applications in diverse industries. For example, data from the Observatory of Economic Complexity, an American platform for visualizing international trade data, showed that in 2022, export trade values for rubber and related items increased to $14.7 billion from $13.1 billion in 2021. Thus, this escalating demand for rubber is fueling the growth of the isoprene market.
What Are The Key Segments Within The Global Isoprene Market?
The isoprene market covered in this report 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
Subsegments:
1) By Polymer Grade: Polyisoprene Rubber, Synthetic Rubber Applications
2) By Chemical Grade: Isoprene Derivatives, Specialty Chemicals
Pre-Book The Isoprene Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
How Are New Trends Impacting The Size Of The Isoprene Market?
The focus on developing eco-friendly isoprene production methods is a significant trend increasingly being seen in the isoprene industry. To maintain their market standing in the isoprene sector, primary contenders are investing in the development of novel technologies. As an example, Bridgestone Corporation, a rubber and tire business based in Japan, in collaboration with the National Institute of Advanced Industrial Science and Technology (AIST), Tohoku University, ENEOS Corporation, and JGC holdings corporation in February 2022, initiated the development of a sustainable approach for generating high-yield isoprene through the use of chemical recycling technology. This strategy aims at utilizing discarded tires for isoprene production, an essential ingredient for synthetic rubber manufacture, with carbon neutrality thus contributing to a more eco-friendly society.
Who Are the Key Players In The Isoprene Market?
Major companies operating in the isoprene market include:
• 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 Inc.
• Pon Pure Chemicals Group
• ExxonMobil Corporation
• Shandong Yuhuang Chemical Group Co. Ltd.
• Sinopec Corp.
• Chevron Phillips Chemical Company LLC
• LOTTE Chemical Corporation
• Kraton Corporation
• Jilin Zhongxin Chemical Group Co. Ltd.
• Nanjing Chemical Material Corporation
• TPC Group Inc.
• Formosa Plastics Corporation
• INEOS Group Holdings S.A.
• LG Chem Ltd.
• Repsol S.A.
• Evonik Industries AG
• Zibo Qixiang Petrochemical Industry Group Co. Ltd.
What Are The Regional Insights Into The Isoprene Market?
Asia-Pacific was the largest region in the isoprene market share in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in the isoprene market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
