Global isoprene rubber latex market forecast at $1.6 billion by 2031

Dubai, UAE – As per the latest study by FMI, the global isoprene rubber latex market is expected to total US$732.5 Mn in 2021. Increasing application of isoprene rubber latex across consumer goods, industrial, and medical industries are estimated to fuel the demand in the market.

Isoprene rubber latex is gaining immense popularity as an alternative to natural rubber. It possesses superior properties such as high resilience, good processability, and easy vulcanization, among others. In response to this, the market is estimated to surpass US$ 1.6 Bn by the end of 2031.

Growing use of isoprene rubber latex in the production of medical supplies such as catheters, probe covers, needle shields, and medical adhesives is expected to drive the sales at 8.1% CAGR over the assessment period.

Governments of several countries are undertaking various initiatives to spread awareness regarding sexually transmitted diseases (STDs) and use of condoms. For instance, the Indian Government announced distributing nearly 180 million pieces of condoms to decline the risk of STD, under the National AIDS Control Programme in 2019.

As condoms are made using isoprene rubber latex, adoption is expected to surge over the coming years. On account of this, the market is expected to register 10.1% year-on-year (YoY) growth in 2021.

In terms of application, the medical gloves segment is anticipated to outpace the other segments, expanding at 9.2% CAGR in 2021. Rise in demand from doctors, nurses, patients, and other professionals to decline the risk of getting infected during the COVID-19 times have increased the sales of medical gloves.

“Surging demand for isoprene rubbers for manufacturing personal protective equipment, gaskets, seals, and conveyor belts across the industrial sector is expected to boost the market,” says a FMI analyst.