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ISOPRENE MONOMER MARKET ANALYSIS

Isoprene Monomer Market, by Grade Type (Chemical Grade and Polymer Grade), by Application (Polyisoprene, Isoprene Rubber (IR), Styrene-Isoprene-Styrene (SIS), and Others), by End-use Industry (Adhesives & Sealants, Natural & Synthetic Rubber, and Others), and by Region – Size, Share, Outlook, and Opportunity Analysis, 2022-2028

  • To Be Published : Nov 2024
  • Code : CMI1948
  • Formats :
      Excel and PDF
  • Industry : Bulk Chemicals

Isoprene Monomer MarketSize and Trends

Market Dynamics

Increasing demand for natural and synthetic rubber, owing to increasing automotive industry is driving growth of isoprene monomer market. According to the Association of Natural Rubber Producing Countries (ANRPC), the world consumption of natural rubber is 5.822 million tones, which increased by 6.2% during the period of January 2018 to May 2018.

Also, with increasing demand for personal vehicles and extensive economic growth, the tire and tire components industry is expected to emerge as the largest end-use industry for natural rubber in 2017, thereby fueling growth of isoprene monomer market. According to the International Organization of Motor Vehicle Manufacturers (OICA), the motor vehicle production in Europe was 21.49 billion in 2016, which increased up to 22.16 billion in 2017.

However, isoprene is carcinogenic to humans, which is restraining growth of isoprene monomer market. Isoprene is classified as hazardous under the globally Harmonized System on Classification and Labeling (GHS), owing to its high flammable property, which is in turn negatively impacting the isoprene monomer market growth.

Market Trends

Among application, polyisoprene segment is expected to witness significant growth in the near future, owing to increasing demand for isoprene rubber in tire industry. According to People’s Government of Jilin Province, the growth rate of isoprene rubber was 3.1% during 2010-2015.

The adhesives and sealants end-use industry segment is expected to show significant growth in the global isoprene monomer market over the forecast period. This is attributed to surging demand for isoprene monomer in automobile and construction industry.

According to the India Brand Equity Foundation (IBEF), the Indian construction industry is expected to grow to a value of US$ 5 billion by 2020.

Moreover, due to stringent government regulations on VOC emissions, end-use industries are opting for alternatives to organic solvents. For instance, SIKA AG introduced a new-generation adhesive called SikaBond AT-75 for wood floor bonding, meeting highest EHS regulation. This is expected to be a major challenge for growth of adhesive and sealants end-use industry segment over the forecast period.

Key manufacturers are focusing on launching new products and plant expansion to expand their product portfolio and to cater to increasing consumer demand. For instance, in September 2013, Ansell launched an array of products in Touch n Tuff product line, which includes polyisoprene gloves for workers in aseptic environment.

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