Isoprene Market, Size, Growth 2022 Global Business Industry Revenue, Demand and Applications Market Research Report to 2027
Isoprene is a common name for the chemical compound
2-methylbuta-1,3-diene. At a room temperature, purified Isoprene is a highly
flammable, colorless liquid that
can be easily ignited. They are classified based on the purity into polymer
grade and chemical grade.
Utilization of high-quality isoprene is overwhelmed by interest
for and creation of polyisoprene elastomers, which represented more than 50% of
aggregate isoprene utilization in 2016. As per our analysis, some of the
prominent market factors and trends identified in the Global Isoprene Market
include rapid construction activities, rising demand for tires from the
automotive industry, and increasing expenditure on personal care products.
Moreover, demand for Isoprene is predicted to witness a significant growth over
the assessment period due to surging automotive industry. Furthermore, rapid
urbanization coupled with increasing disposable income in emerging economies is
predicted to propel the growth of the market during the assessment period
2017-2023.
Key Players:
Some of the prominent players operating in the Global Isoprene
Market are The Goodyear Tire & Rubber Company (the U.S.),
SIBUR (Russia), Royal Dutch Shell plc (the
Netherlands), LyondellBasell Industries N.V. (the Netherlands), ZEON CORPORATION (Japan),
Ningbo Jinhai Chenguang Chemical Corporation (China), PJSC
Nizhnekamskneftekhim (Russia), Kuraray Co., Ltd (Japan), Chevron Phillips
Chemical Company (the U.S.), and Exxon Mobil Corporation
(the U.S.).
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Market Segmentation:
The Global Isoprene Market is categorized on the basis of grade,
application, and region. On the basis of the grade, the market is bifurcated
into polymer grade, and chemical grade. On the basis of the application, the
isoprene market is categorized into styrene isoprene styrene, block copolymer,
isobutyl isoprene, and polyisoprene. On the basis of the region, the market is
categorized into Asia Pacific, Europe, Latin America, North America, and the
Middle East & Africa.
Regional Analysis:
The Global Isoprene Market consists of five regions: Asia
Pacific, Europe, Latin America, North America, and the Middle East &
Africa. Among these, Asia Pacific is predicted to grow at the highest CAGR
during the review period on owing to expanding medical and construction
industries. The polyisoprene market is predicted to increase in numerous
countries of the Asia Pacific such as China, India, Japan and Indonesia due to
increasing urbanization and population.
North
American Isoprene Market is predicted to witness a tremendous growth on account
of high consumption potential, increasing production capacities, and rising
economic growth rate. In North American region, the U.S. & Canada are
predicted to be the major contributors to the regional growth of Isoprene
Market and are expected to see a significant demand for isoprene during the
forecast period 2017-2023. Increasing demand for automobile and medical
appliances are the factors driving the market growth. In Europe, the
demand for isoprene is predicted to grow in various countries such as Italy,
Germany, Spain, UK, France, and Russia on account of increasing expenditure in
innovation in automobile, cosmetic products awareness and growing purchasing
power of consumers. Moreover, the presence of major automobile manufacturers,
specifically, in Germany is expected to give a new impetus to the market
growth. In the Middle East, the growing demand from construction and automobile
industries are likely to boost the Isoprene Market over the forecast period.
Latin American countries such as Argentina, Colombia, and Brazil are also
predicted to witness a substantial growth owing to increasing consumer spending
on passenger cars as well as involvement of new technologies and inventions in
Isoprene.
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