The global isoprene market size is poised to grow by USD 1.62 billion during 2020-2024, progressing at a CAGR of almost 8% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
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Technavio has announced its latest market research report titled Global Isoprene Market 2020-2024 (Graphic: Business Wire)
The tire industry is one of the key end-user industries for isoprene rubber (IR). An upsurge in natural rubber prices has compelled the tire manufacturers to substitute it with synthetic rubber. IR is one of the least expensive substitutes for natural rubber. Synthetic rubber is used to enhance the tensile strengths, thereby increasing the tire quality. Synthetic rubber also offers advantages in durability and rolling resistance. In developed countries, IR loadings are particularly high in tires driven by quality control and necessary performance requirements for high-performance tires.
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Report Highlights:
- The major isoprene market growth came from the polyisoprene segment. Tires and tire products dominated the consumption of polyisoprene elastomers in 2019, followed by mechanical rubber goods. End-use industries, such as medical applications and footwear, are some other prominent ones. Medical applications are expected to have the fastest consumption growth during the forecast period. The manufacturers of latex-free surgical gloves highly prefer polyisoprene.
- Europe was the largest isoprene market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The increased demand for isoprene from end-user industries, such as tires, non-tires, and adhesives will significantly influence isoprene market growth in this region over the forecast period.
- The global isoprene market is fragmented. Braskem SA, Exxon Mobil Corp., JSR Corp., Kraton Corp., Kuraray Co. Ltd., LyondellBasell Industries NV, PJSC Nizhnekamskneftekhim, PJSC SIBUR Holding, Royal Dutch Shell Plc, and The Goodyear Tire Rubber Co are some of the major market participants. To help clients improve their market position, this isoprene market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global isoprene market 2020-2024 is expected to have Neutral growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
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Strategic Partnerships Between IR Manufacturers and Industrial Biotech Firms will be a Key Market Trend
Strategic partnerships between IR manufacturers and industrial biotech firms are one of the critical isoprene market trends. High process and definite supply of monomers and natural rubbers have stimulated the use of renewable feedstock to produce synthetic rubber. Several players are focusing on producing IR from bio-based raw materials. The players are entering into partnerships with industrial biotech firms to advance the commercial production of bio-based rubber raw materials.
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Isoprene Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist isoprene market growth during the next five years
- Estimation of the isoprene market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the isoprene market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of isoprene market vendors
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Executive Summary
- Market Overview
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application placement
- Polyisoprene Market size and forecast 2019-2024
- Styrene-isoprene-styrene Market size and forecast 2019-2024
- Isobutylene-isoprene rubber Market size and forecast 2019-2024
- Other chemicals Market size and forecast 2019-2024
- Market opportunity by Application
Customer landscape
- Overview
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- Europe Market size and forecast 2019-2024
- APAC Market size and forecast 2019-2024
- North America Market size and forecast 2019-2024
- MEA Market size and forecast 2019-2024
- South America Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver Demand led growth
- Volume driver Supply led growth
- Volume driver External factors
- Volume driver Demand shift in adjacent markets
- Price driver Inflation
- Price driver Shift from lower to higher priced units
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Braskem SA
- Exxon Mobil Corp.
- JSR Corp.
- Kraton Corp.
- Kuraray Co. Ltd.
- LyondellBasell Industries NV
- PJSC Nizhnekamskneftekhim
- PJSC SIBUR Holding
- Royal Dutch Shell Plc
- The Goodyear Tire Rubber Co.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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