The global polyisoprene market size is expected to be worth around US$ 6.9 billion by 2030, according to a new report by Vision Research Reports.
The global polyisoprene market size was valued at US$ 3.2 billion in 2020 and is anticipated to grow at a CAGR of 5.1% during forecast period 2021 to 2030.
|Market Size||US$ 6.9 billion by 2030|
|Growth Rate||CAGR of 5.1% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||PJSC Nizhnekamskneftekhim; Zeon Corp.; JSR Corp.; The Goodyear Tire & Rubber Company; Kuraray Co., Ltd.|
Increasing adoption of polyisoprene in the automotive, footwear, medical, non-automotive sectors is projected to fuel the market growth during the forecast period. The product is also expected to have a high demand in the tires & related products application due to the product properties like excellent resistance to abrasion &tearing and high compression set along with the increasing demand for Electric Vehicles (EVs).
Major players in the market are investing to expand and develop polyisoprene for end-use industries. For instance, in May 2020 Cariflex Pte. Ltd. announced to construct a new polyisoprene latex plant at its Paulinia facility located in Brazil to cater to strong demand from the consumer goods and medical industries. The company is expected to invest USD 50 million to drive this facility expansion project.
By Application Analysis
The tires& related product application segment dominated the market with a revenue share of more than 68% in 2020. Polyisoprene provides uniformity and higher flow properties allowing tire manufacturers to meet the high standard of steel-reinforced radial tires.
The growing product usage in the healthcare, coatings and adhesive sectors is expected to stimulate polyisoprene demand for the production of latex for medical gloves. This is due to the fact that isoprene-based latex exhibits good tear strength and tear resistance.
Polyisoprene offers several benefits over natural rubber, such as higher tensile and shear strength, which has resulted in the utilization of polyisoprene in safety footwear as well as hoses that are used in the oil & gas, construction, steel, and chemical manufacturing industries.
By Regional Analysis
Europe dominated the global market in 2020 and accounted for more than 50.5% of the global revenue share. This is due to the presence of well-established automotive and oil & gas sectors in the region.
Asia Pacific is expected to witness a significant CAGR over the forecast period owing to the rapid growth of end-use industries including automotive, medical, and construction in China, India, and Indonesia. In addition, increasing vehicle production in countries like China, Indonesia, Japan, South Korea, and India is expected to be a major driver for market growth.
North America is expected to have significant growth over the forecast years on account of the high vehicle production, mainly in Mexico and the U.S., along with heavy R&D by domestic companies aimed at product innovation and increasing its application scope.
The Goodyear Tire & Rubber Company
Kuraray Co., Ltd.
Tires & Related Products
Belts & Hose
Central & South America
Middle East & Africa
The Polyisoprene market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Polyisoprene market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Polyisoprene market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Polyisoprene market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Polyisoprene market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Polyisoprene capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Polyisoprene by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Polyisoprene market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Polyisoprene market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Polyisoprene market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Polyisoprene industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Polyisoprene market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Polyisoprene market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Polyisoprene market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Polyisoprene market. These factors have benefited the growth of the global market for Polyisoprene. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Polyisoprene. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Polyisoprene are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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