Prismane Consulting Estimates the Global Isoprene Market Size is projected to grow from USD 1.7 billion in 2022 to USD 3.0 billion by 2032, registering a CAGR of 5.2%.
PUNE, India, May 30, 2024 /PRNewswire/ -- Prismane Consulting is thrilled to announce the release of the most recent edition of its report, titled "Global Isoprene Market 2024" This in-depth market analysis delves into the landscape of Isoprene, exploring its supply-demand dynamics and consumption patterns.
The report provides a comprehensive overview of the worldwide Isoprene market, with a specific focus on key countries and their respective demand across various applications and end-use industries. Within the report, you will find coverage of Isoprene applications such as Polyisoprene, Thermoplastic Elastomer, Butyl Rubber (IIR) and other relevant applications. Isoprene end-use industries include Tires, Non-Tires, Adhesives and Others. Additionally, the report offers market data for Isoprene, both in terms of volume and value, segmented by application at both the country and regional levels.
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This study offers an all-encompassing analysis that encompasses various critical factors. These factors include macroeconomic influencers such as population, GDP, and global economic integration, along with economic and energy forecasts. Furthermore, the report covers industry and policy advancements, insights into end-use sectors and application markets, detailed reasoning and assessment, informative commentary, comparative analysis, the latest trends, market dynamics, strategic considerations and recommendations, and an assessment of business opportunities.
Isoprene, a key raw material in the production of synthetic rubber and other high-value chemicals, has witnessed significant growth in recent years. This versatile compound is primarily derived from petroleum-based feedstocks, but with the growing emphasis on sustainability and renewable resources, bio-based isoprene is also gaining traction. Most of the industrially manufactured isoprene is used to make polyisoprene, a synthetic equivalent of natural rubber.
Isoprene Supply Overview
The global Isoprene capacity was estimated around 1,700 kilo tons in 2022. Asia Pacific and Central & Eastern Europe together accounted for over 75% of the world's isoprene supple. Russia solely accounted for more than 35% owing to the presence of strong isoprene manufacturers such as Nizhnekamskneftekhim (NKNK), Togliatti Kauchuk JSC (SIBUR) and Sintez-Kauchuk (Sterlitamak). On global level, the average isoprene operating rates were recorded around 75%.
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Isoprene Demand Overview
In 2022, the demand for isoprene reached approximately 650 kilo tons, at a CAGR of 4.9%. The Asia Pacific region holds a dominant position in the global isoprene market, contributing to over 45% of the overall demand.
The isoprene market is segmented into Polyisoprene, Thermoplastic Elastomer, and Butyl Rubber (IIR) based on demand by applications. Polyisoprene stands as the largest segment, contributing significantly due to its extensive use in tire production and other rubber goods. It contains a lower non-polymer component level compared to natural rubber. Beyond its application in tires, polyisoprene is utilized in various products such as rubber bands, footwear, hoses, and conveyor belts. Notably, it is a prevalent material in the production of medical devices, including surgical gloves, sample covers, and catheters. Polyisoprene rubber accounts for more than 60% of the global demand for isoprene.
Isoprene finds prominent applications in key end-use industries such as Tires, Non-Tires, and Adhesives. The Tires segment holds the largest market share, primarily driven by the rising demand from the automotive sector. Isoprene is a crucial component in the production of polyisoprene, a key material in tire manufacturing. The rubber industry, especially in tire production, stands as a significant consumer of isoprene, with the automotive sector being a key determinant of demand. The isoprene market experiences growth fueled by factors such as the increasing demand for fuel-efficient vehicles and the expanding automotive industry, particularly in emerging economies.
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About Prismane Consulting:
Prismane Consulting is a unique global research & consulting firm serving businesses in the field of Chemicals, Energy and Environment offering in-depth technical & strategy reports and consulting services. Our Strategy and Market study reports cover information on complete value chains, supply- demand analysis, trade, supplier profiles, target markets, business opportunity assessments, new technologies and emerging trends.
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Tejas Shah
Prismane Consulting Private Limited
tejas.shah@prismaneconsulting.com
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