The report of Global Isoprene Market is segmented By Type (Polymer Grade, Chemical Grade), Application (Polyisoprene (IR), Styrene-isoprene-styrene (SIS), Isobutylene-isoprene rubber (IIR), Others), End-use Industry (Tires, Non-tires, Adhesives, Others), and Region (North America, Europe, Asia Pacific, Middle East & Africa, Latin America) is expected to reach US$ XX Bn by 2027, at a CAGR of 6.80 % during a forecast period.
The demand for isoprene is increasing from various industries such as medical, automotive industries because of its good tack, good resilience, and tensile strength. Additionally, rapid industrialization and growth in the global income levels in developed and developing countries with the advancement in technology and growing expansion strategies & investment by the major key players across the globe are driving the growth in the market.
However, stringent regulations to diminish hazardous air pollutants (HAP) are expected to limit the production of synthetic rubber and henceforth that is expected to limit the growth of isoprene market during the forecast period.
Polyisoprene is expected to grow at a XX% rate of CAGR during the forecast period.
Polyisoprene is expected to grow at a CAGR of 3.2 %. It is widely used in manufacturing of tires alternative to natural rubber. It is also used in making footwear, baby bottle nipples, rubber bands, conveyor belts and hoses because of its excellent characteristic properties such as resilience, wear resistance, durability property.
The Asia Pacific region is projected to grow at a XX% rate of CAGR during the forecast period.
Geographically, Asia Pacific is estimated as the dominant market in terms of revenue growth at a CAGR of XX % during the forecast period 2019 to 2027. The growth is because of the growing construction, medical and automotive industries. Moreover, increasing demand for tire production, mounting construction activities together with increasing infrastructural investments in China and India are predicted to boost the growth for the region’s isoprene market in the forecast. Furthermore, Rapid industrialization and technology advancement in isoprene production is estimated to boost the growth opportunities for the market players regionally.
Key players operating in the Isoprene Market are Nizhnekamskneftekhim , SIBUR, The Goodyear Tire & Rubber Company , Royal Dutch Shell Plc , Kuraray Co. Ltd. , Chevron Phillips Chemical Company, Bridgestone Corporation, Michelin. , Continental AG, Sumitomo Rubber Industries Ltd, Sinopec, Dow, ZEON Corporation, LyondellBasell Industries N.V, JSR Corporation, Ningbo JinhaiChenguang, Shandong Yuhuang Chemical Group Co. Ltd., Finetech Industry Ltd. , Haihang Industry Co. Ltd. , Fortrec Chemicals and Petroleum Pte Ltd, Braskem and Exxon Mobil Corporation.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Isoprene Market. The report encompasses the market by different segments and regions, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in the Global Isoprene Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explains Global Isoprene Market positioning of competitors.
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