Isoprene is a common name for the chemical compound 2-methylbuta-1,3-diene. At room temperature, purified isoprene is a highly flammable, colorless liquid that can be easily ignited. It is formed naturally in animals and plants and is the most commonly obtained during processing of petroleum or coal tar and is used as a chemical raw material. It is used to manufacture styrene isoprene styrene, isobutylene isoprene, and polyisoprene. Natural isoprene rubber offer various properties such as flexibility, and high tensile strength. Additionally, polymer grade synthetic polyisoprene has different properties than natural rubber such as it acts as viscosity increasing agent, clean and hypoallergenic.
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Top 10 Key Players:
Some of the prominent players operating in the Global Isoprene Market are The Goodyear Tire & Rubber Company (the U.S.), SIBUR (Russia), Royal Dutch Shell plc (the Netherlands), LyondellBasell Industries N.V. (the Netherlands),ZEON CORPORATION (Japan), Ningbo Jinhai Chenguang Chemical Corporation (China), PJSC Nizhnekamskneftekhim(Russia), Kuraray Co., Ltd (Japan), Chevron Phillips Chemical Company (the U.S.), and Exxon Mobil Corporation (the U.S.). Furthermore, rapid urbanization coupled with increasing disposable income in emerging economies is predicted to propel the growth of the market during the assessment period 2017-2023. Isoprene is a common name for the chemical compound 2-methylbuta-1,3-diene. At a room temperature, purified Isoprene is a highly flammable, colorless liquid that can be easily ignited. They are classified based on the purity into polymer grade and chemical grade.
Chemical grade polyisoprene is used for the manufacturing of tires and tubes in the automotive industry. Isobutylene Isoprene is used as a fuel and lubricant additive in the automobile industry. Isobutylene is a class of thermoplastic elastomers and it has elective usage in adhesive field where it represents the basis of pressure sensitive adhesives and hot melts. The Global Isoprene Market consists of five regions: Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these, Asia Pacific is predicted to grow at the highest CAGR during the review period on owing to expanding medical and construction industries. The polyisoprene market is predicted to increase in numerous countries of the Asia Pacific such as China, India, Japan and Indonesia due to increasing urbanization and population.
North American Isoprene Market is predicted to witness a tremendous growth on account of high consumption potential, increasing production capacities, and rising economic growth rate. In North American region, the U.S. & Canada are predicted to be the major contributors to the regional growth of Isoprene Market and are expected to see a significant demand for isoprene during the forecast period 2017-2023.
Market Segmentation:
The Global Isoprene Market is categorized on the basis of grade, application, and region. On the basis of the grade, the market is bifurcated into polymer grade, and chemical grade. On the basis of the application, the isoprene market is categorized into styrene isoprene styrene, block copolymer, isobutyl isoprene, and polyisoprene. On the basis of the region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
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In the Middle East, the growing demand from construction and automobile industries are likely to boost the Isoprene Market over the forecast period. Latin American countries such as Argentina, Colombia, and Brazil are also predicted to witness a substantial growth owing to increasing consumer spending on passenger cars as well as involvement of new technologies and inventions in Isoprene.
Regional Analysis:
In Europe, the demand for isoprene is predicted to grow in various countries such as Italy, Germany, Spain, UK, France, and Russia on account of increasing expenditure in innovation in automobile, cosmetic products awareness and growing purchasing power of consumers. Moreover, the presence of major automobile manufacturers, specifically, in Germany is expected to give a new impetus to the market growth.
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