The global isoprene rubber market witnessed substantial growth over the past few years on account of its growing demand from the medical industry and the trend is expected to continue over the forecast period. In addition, demand for isoprene rubber is expected to grow over the next six years owing to the increasing application scope in the tire manufacturing industry. In addition, isoprene rubber is expected to replace natural rubber in various applications over the forecast period owing to their similar molecular structure and similar properties. Volatile prices of natural rubber are further expected to drive the isoprene rubber market growth. Properties of isoprene rubber including high tensile strength and high elongation are beneficial to gloves and balloon industry in the healthcare sector which is anticipated to drive its market growth.
Isoprene rubber market can be segmented based on end-use industries including tire manufacturing, medical, cable insulation, conveyor belts, driving belts, and niche applications including footwear and consumer products. The medical industry was the largest market for isoprene rubber over the past few years on account of increasing its application scope in glove and balloon application. The tire manufacturing industry was the second largest application segment for the isoprene rubber market over the past five years and expected to witness the fastest growth over the forecast period on account of rising demand for automobiles across the world especially in growing economies including India and China. Isoprene rubber is employed largely in the tire industry for the manufacture of sidewalls, break, tread and carcass. In addition, increasing demand for isoprene in the manufacturing of conveyor belts and driving belts is anticipated to fuel its market growth over the next six years.
Asia Pacific was the largest regional segment for isoprene rubber on account of increasing demand from medical and tire manufacturing industries. In addition, rapid industrialization coupled with growing automobile demand in emerging economies including India, China, and Malaysia is anticipated to boost the isoprene rubber market over the forecast period. North America is the second-largest market for isoprene rubber on account of strong demand from the healthcare sector. Europe and Middle East countries have been witnessing significant growth over the last few years on account of growth in the automobile industry. Key players that manufacture isoprene rubber include Goodyear Rubber and Tire Company, Nizhnekamskneftekhim Inc., SIBUR, JSR Corporation, and ZEON Corporation.
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