Isoprene Market Analysis | 2023-2028

Market Insights

The isoprene market was estimated at USD 2.5 billion in 2022 and is likely to grow at a CAGR of 7.2% during 2023-2028 to reach USD 3.82 billion in 2028.

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Market Dynamics

Introduction

Isoprene is a natural organic compound with a molecular formula C5H8. It is a volatile liquid hydrocarbon found in various plants, particularly trees, as well as in certain animals. Isoprene plays a vital role in the biosynthesis of natural rubber, where many plants release it into the atmosphere in significant amounts. It is considered a building block for the creation of various essential chemicals and materials, including synthetic rubber and polymers. In the atmosphere, isoprene contributes to the formation of secondary organic aerosols and participates in atmospheric chemistry, impacting air quality and climate.

Market Drivers

The Isoprene market drivers can be summarized as follows:

• Demand Drivers: The demand for isoprene is influenced by its role in the production of synthetic rubber, elastomers, and other polymers used in industries such as automotive, construction, and consumer goods.
• Automotive Industry: The growth of the automotive sector, driven by tire manufacturing, significantly impacts isoprene demand.
• Sustainability: Environmental concerns are pushing industries to explore bio-based alternatives to isoprene, impacting its market.
• Research and Innovation: Ongoing research focuses on developing new methods for isoprene production and discovering novel applications.
• Global Economic Trends: Economic growth influences industries that rely on isoprene, affecting demand patterns.
• Regulations: Regulatory standards on emissions, chemicals, and sustainability can shape the market's direction.

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Key Players

Some of the isoprene manufacturers are:

• The Goodyear Tire and Rubber Company
• Royal Dutch Shell PLC
• Lyondellbasell Industries N.V.
• Sibur
• PJSC Nizhnekamskneftekhim
• Zeon Corporation
• Kuraray Co. Ltd.
• Ningbo Jinhai Chenguang
• Shandong Yuhuang Chemical Group Co. Ltd.
• Finetech Industry Ltd.
• Haihang Industry Co. Ltd.
• Fortrec Chemicals and Petroleum Pte Ltd.
• Braskem S.A.
• JSR Corporation.

Note: The above list does not necessarily include all the top players in the market.

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Segments Analysis

By Type

Based on the type, the isoprene market is segmented as polymerization grade and chemical grade. Polymerization grade is the most extensively used isoprene type. Owing to its properties similar to natural rubber, it is widely used in different applications. Further, it has more uniformity in molding, strength, cure rate, mixing, and processing.

By Application Type

Based on the application type, the market is segmented as polyisoprene, styrene isoprene styrene, isobutylene isoprene rubber, and others. The growing use of polyisoprene in the tire industry has led to the demand for isoprene globally. The growing demand for low-rolling-resistance tires aimed at better fuel efficiency is estimated to further drive the global isoprene market during the forecast period.

Regional Insights

In terms of regions, Asia-Pacific is estimated to offer substantial growth opportunities in the coming five years for isoprene. China and India are the growth engines of the region. The market is sustained by the increasing demand for isoprene by various end-use industries. North America and Europe are also expected to offer considerable growth opportunities during the forecast period.

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s isoprene market realities and future market possibilities for the forecast period of 2023 to 2028. After a continuous interest in our isoprene market report from the industry stakeholders, we have tried to further accentuate our research scope to the isoprene market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors

Market Segmentation

This report studies the market, covering a period of 12 years of trends and forecasts. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The isoprene market is segmented into the following categories:

By Type

• Polymerization Grade
• Chemical Grade

By Application Type

• Polyisoprene
• Styrene Isoprene Styrene
• Isobutylene Isoprene Rubber
• Others

By End-Use Type

• Tires, Adhesives
• Non-Tire
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players).
• SWOT analysis of key players (up to three players).

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.