Isoprene Market Growth, Market Segment, Top Leading Players, Applications, Dynamics Forecast - 2030
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 Growth 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 growth 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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Regional analysis:
The global market for chemical intermediate has been segmented into five key
regions, namely, Asia-Pacific, North America, Middle East & Africa,
Europe, and Latin America.
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