The global polyisoprene market was valued at $21.5 billion in 2021, and is projected to reach $36.4 billion by 2031, registering a CAGR of 5.5% from 2022 to 2031.
Polyisoprene are natural polymers composed of isoprene monomers that can be classified as cis or trans. Polyisoprene is refers to a group of polymers that are made by polymerizing isoprene. Polyisoprene is commonly used to refer to synthetic cis-1,4-polyisoprene, made by the industrial polymerization of isoprene. Natural forms of polyisoprene are also used in substantial quantities, the most important being 'natural rubber' (mostly cis-1,4-polyisoprene), which is derived from the sap of trees. Due to the great elasticity of both synthetic polyisoprene and natural rubber, they are used to manufacture tires and a variety of other products. Polyisoprene compounds are used in rubber bands, cut thread, baby bottle nipples, and extruded hoses, along with other such items. Polyisoprene that is mineral-filled finds applications in footwear, sponges, and sporting goods. Other important uses include medical/health applications and sealants and adhesives.
The growth of the market is directly proportional to the growth of the synthetic rubber industry. Trends in the tire industry and other synthetic rubber products have an impact on polyisoprene producers. Factors, such as the growing demand for elastomers in the automotive, industrial, footwear, and medical industry, are expected to drive the demand for polyisoprene. Increasing usage of polyisoprene in surgical gloves is also expected to boost the growth of polyisoprene growth.
The global Polyisoprene market is segmented on the basis of type, application, and region. On the basis of type, the global Polyisoprene market is segmented into fly ash, slag cement and silica fume and others. The applications of polyisoprene include residential, commercials and others. On the basis of region, the global polyisoprene market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the market, followed by LAMEA and Europe.
Major players operating in the global Polyisoprene market are, Exxon Mobil Corporation, Haihang Industry Co., Ltd., Kent elastomer products, Kuraray Co., Ltd., SIBUR, The Goodyear Tire & Rubber Company, Dupont.
Polyisoprene are natural polymers composed of isoprene monomers that can be classified as cis or trans. Polyisoprene is refers to a group of polymers that are made by polymerizing isoprene. Polyisoprene is commonly used to refer to synthetic cis-1,4-polyisoprene, made by the industrial polymerization of isoprene. Natural forms of polyisoprene are also used in substantial quantities, the most important being 'natural rubber' (mostly cis-1,4-polyisoprene), which is derived from the sap of trees. Due to the great elasticity of both synthetic polyisoprene and natural rubber, they are used to manufacture tires and a variety of other products. Polyisoprene compounds are used in rubber bands, cut thread, baby bottle nipples, and extruded hoses, along with other such items. Polyisoprene that is mineral-filled finds applications in footwear, sponges, and sporting goods. Other important uses include medical/health applications and sealants and adhesives.
The growth of the market is directly proportional to the growth of the synthetic rubber industry. Trends in the tire industry and other synthetic rubber products have an impact on polyisoprene producers. Factors, such as the growing demand for elastomers in the automotive, industrial, footwear, and medical industry, are expected to drive the demand for polyisoprene. Increasing usage of polyisoprene in surgical gloves is also expected to boost the growth of polyisoprene growth.
The global Polyisoprene market is segmented on the basis of type, application, and region. On the basis of type, the global Polyisoprene market is segmented into fly ash, slag cement and silica fume and others. The applications of polyisoprene include residential, commercials and others. On the basis of region, the global polyisoprene market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the market, followed by LAMEA and Europe.
Major players operating in the global Polyisoprene market are, Exxon Mobil Corporation, Haihang Industry Co., Ltd., Kent elastomer products, Kuraray Co., Ltd., SIBUR, The Goodyear Tire & Rubber Company, Dupont.
IMPACT OF COVID-19 ON THE GLOBAL POLYISOPRENE MARKET
- The outbreak of the COVID-19 pandemic has had an adverse impact on the global economy as governments globally were forced to implement lockdowns to prevent the spread of the virus. As a result, the operations of polyisoprene were hampered.
- COVID-19 has been spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
- Some of the major economies suffered from the COVID-19 crises include, Germany, France, Italy, Spain, UK, and Norway.
- Due to COVID-19 pandemic, transport limitations were implemented, which resulted in reduced industrial production and disrupted supply chains. Thus, affecting the global economic growth by a substantial proportion and severely impacting the market growth.
- Companies were not earning any profit as a result of the work stoppage and not only the companies lost the money but they also lost suppliers who were providing the required materials to various companies to be used in the construction sector. All those suppliers also faced huge losses.
- The COVID-19 pandemic impacted negatively on the manufacturing and industrial industries due to a scarcity of resources in various parts of the globe. The industry's top players are concerned about the market's prospects and are rethinking their strategies to meet the challenge.
- Ever since the pandemic, industries across the sectors, such as electrical businesses, have experienced supply chain disruptions and significant delays in new installations in their offices as well as commercial applications. These steps are hammering the industries and posing challenges to their growth potential.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the polyisoprene market analysis from 2021 to 2031 to identify the prevailing polyisoprene market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the polyisoprene market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global polyisoprene market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Natural Rubber
- Synthetic Rubber
By Application
- Tires Related Products
- Belt Hose
- Latex
- Footwear
- Non-Automotive Engineering
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest Of Asia Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Shell
- Exxon Mobil Corporation
- Haihang Industry Co., Ltd.
- JSR Corp
- Kuraray Co., Ltd.
- SIBUR
- The Goodyear Tire & Rubber Company
- Cray Valley
- ZEON CORPORATION
- DUPONT
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: POLYISOPRENE MARKET, BY TYPE
CHAPTER 5: POLYISOPRENE MARKET, BY APPLICATION
CHAPTER 6: POLYISOPRENE MARKET, BY REGION
CHAPTER 7: COMPANY LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Polyisoprene Market," the polyisoprene market was valued at $21.5 billion in 2021, and is estimated to reach $36.4 billion by 2031, growing at a CAGR of 5.52% from 2022 to 2031.Polyisoprene provides uniformity and higher flow properties allowing tire manufacturers to meet the high standard of steel-reinforced radial tires. The rising consumption of polyisoprene in tires, particularly green tires, is expected to drive the tires and polyisoprene industry expansion. In addition, the increasing demand for EVs and increasing disposable income levels are expected to drive the market growth during the forecast period.
The increased use of polyisoprene in the healthcare, coatings, and adhesives industries is predicted to boost demand for latex for medical gloves. This is due to the fact that isoprene-based latex exhibits good tear strength and tear resistance. Furthermore, Polyisoprene has various advantages over natural rubber, including increased tensile and shear strength, which has led to its application in safety footwear as well as hoses in the oil and gas, construction, steel, and chemical manufacturing industries.
The global Polyisoprene market is segmented on the basis of type, application, and region.
On the basis of type, the natural rubber accounted for more than half share of the global polyisoprene market in 2021, and is expected to maintain its dominance during the forecast period.
On the basis of application, the tires & related products segment dominated the global polyisoprene market in terms of revenue, in 2021, owing to increase in vehicle production globally.
Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. The Europe segment dominated the global polyisoprene market in terms of revenue, in 2021, owing to increase in urbanization in emerging countries.
The global Polyisoprene market is consolidated in nature with a few players, such as Shell, Exxon Mobil Corporation, Haihang Industry Co., Ltd., Kent elastomer products, Kuraray Co., Ltd., SIBUR, The Goodyear Tire & Rubber Company, Dupont., which hold significant share of the market. These players have been adopting various strategies to gain higher share or to retain leading positions in the market.
Key Findings of the Study
- On the basis of type, the natural rubber segment emerged as the global leader by acquiring more than 52.02% of the market share in 2021, and is anticipated to continue this trend during the forecast period.
- On the basis of application, the supplements segment accounted for 52.1% of the global market share in FY2021.
- On the basis of region, Europe is the major consumer of Polyisoprene among other regions. It accounted for around 51.2% of the global market share in 2021.
IMPACT OF COVID-19 ON THE GLOBAL POLYISOPRENE MARKET
- The outbreak of the COVID-19 pandemic has had an adverse impact on the global economy as governments globally were forced to implement lockdowns to prevent the spread of the virus. As a result, the operations of polyisoprene were hampered.
- COVID-19 has been spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2021.
- Some of the major economies suffered from the COVID-19 crises include, Germany, France, Italy, Spain, UK, and Norway.
- Due to COVID-19 pandemic, transport limitations were implemented, which resulted in reduced industrial production and disrupted supply chains. Thus, affecting the global economic growth by a substantial proportion and severely impacting the market growth.
- Companies were not earning any profit as a result of the work stoppage and not only the companies lost the money but they also lost suppliers who were providing the required materials to various companies to be used in the construction sector. All those suppliers also faced huge losses.
- The COVID-19 pandemic impacted negatively on the manufacturing and industrial industries due to a scarcity of resources in various parts of the globe. The industry's top players are concerned about the market's prospects and are rethinking their strategies to meet the challenge.
- Ever since the pandemic, industries across the sectors, such as electrical businesses, have experienced supply chain disruptions and significant delays in new installations in their offices as well as commercial applications. These steps are hammering the industries and posing challenges to their growth potential.
Companies Mentioned
- Shell
- Exxon Mobil Corporation
- Haihang Industry Co. Ltd.
- Jsr Corp
- Kuraray Co. Ltd.
- Sibur
- The Goodyear Tire & Rubber Company
- Cray Valley
- Zeon Corporation
- Dupont
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 260 |
| Published | June 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 21.5 billion |
| Forecasted Market Value ( USD | $ 36.4 billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
