The
global isoprene market is expected to reach USD 3.97 billion by 2025, growing
at a CAGR of 7.5%, according to a new report by Grand View Research, Inc.
Rising demand for isoprene is owing to good resilience, good tack, and great
hot tensile and good gum tensile strength propel industry expansion over the
forecast period.
Growing
automotive sector will fuel isoprene demand for various products including
tires, fuel hoses, engine mounting, mud flaps, suspension bushes, floor mats,
and exhaust rubber hangers over the forecast period, thereby augmenting
industry size in the near future.
The
contents of isoprene not only restrict formation of nitrosamines, but also
prevents Type I allergies. The physical properties deriving the demand for
isoprene are heat resistance, clear and power-free products, electrical
resistance, adapting various component geometric as well as thicknesses, and
low tensile set values.
Increasing
expenditures and greater attention to health care by developing markets,
construction of hospitals and clinics, and the establishment of public health
insurance will augment medical devices market. In addition, aging population
coupled with the rising global income levels in developing countries will fuel
the utilization of isobutylene-isoprene rubber and styrene-isoprene styrene.
U.S.
isoprene market volume by product, 2014 - 2025 (Kilo tons)
Browse full research report on Isoprene
Market: http://www.grandviewresearch.com/industry-analysis/isoprene-market
Further
Key Findings From the Study Suggest:
- Polymer grade isoprene is likely to witness
significant revenue rise at a CAGR of 7.7% from 2017 to 2025 as a result
of their properties including toughness, excellent hot tear strength,
abrasion, high resilience, cold resistance, and tensile strength.
Moreover, the product is obtained from the C5 diene crude product, which
are quick to dispose and reuse on account of an existing infrastructure in
place.
- Asia Pacific was the dominant market and
accounted for 28.7% of the overall volume share in 2016. Robust
manufacturing base of automotive industry in China, Japan and India along
with increasing passenger vehicles sales are anticipated to augment
isoprene market growth in the near future.
- Presence of major automobile companies,
including Toyota, Honda, Daihatsu, Nissan, Suzuki, Mazda, Mitsubishi,
Subaru and Isuzu will augment the Japanese automotive industry, which in
turn will drive the isoprene market demand.
- Key participants dominating the industry
includes Shell PLC., The Goodyear Tire and Rubber Company, ExxonMobil
Corp., LyondellBasell Industries N.V., Zeon Corporation, Chevron Phillips
Chemical LLC, Shandong Yuhuang Chemical (Group) Co., Ltd., and Braskem.
- Product differentiation along with threat of
forward and backward integration by manufacturers to distribute isoprene
and to capture market share is anticipated to result in high industry
rivalry in the product’s market over the forecast period. In addition, possible
entry of new players is further expected to intensify rivalry in the
industry.
- In February 2014, Shandong Yuhuang Chemical
Co., Ltd. signed a co-operation frame agreement with Sinopec Chemical
Sales Company, which was led by Sinopec’s general manager, Zhao Chengfeng.
- In August 2013, SIBUR entered into a joint
venture with China Petroleum and Chemical Corporation, a major petroleum
and petrochemical enterprise group, in order to produce synthetic rubbers
in Krasnoyarsk.
Access
Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-isoprene-market
About
Grand View Research, Inc:
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, the company offers market intelligence
studies ensuring relevant and fact-based research across a range of industries
including technology, chemicals, materials, healthcare and energy.
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