Mumbai, India – The global isoprene rubber market is estimated to be valued at $1.6 billion in 2021 and is projected to reach $1.9 billion by 2026 at a CAGR of 3.5 percent, according to the latest report from Global Market Estimates. Isoprene rubber is a necessary component in a wide spectrum of application domains to meet the consistent demand protrusions in the end-use industries. Rubber, both natural and synthetic, is extensively used in a variety of industrial applications for improved machinery and device longevity, in addition to serving as a protective liner for numerous corrosive environment and abrasive wear susceptible components. The item is a high-end industry constituent that has been powering a variety of commercial implementations. Such rubber is analogous to natural rubber and can be produced inevitably as well as synthetically.
Both synthetic and natural rubber versions are unequivocally utilized as a preliminary structural component that is debilitating and has exceptional heat, temperature, and abrasion susceptibility. Quality synthetic rubber, including isoprene rubber, has gained widespread popularity due to a variety of benefits such as increased resistance and lifespan. Furthermore, the large scale and low cost manufacturing process of synthetic rubber gives it a straightforward upper hand over natural rubber. The convenience of manufacturing and the low cost of such rubber will propel widespread adoption of the material over its natural equivalents. These considerations are expected to generate significant returns in the global isoprene market.
Natural rubber isoprene is more exorbitant because it is derived from organic rubber plantations through laborious production processes. Natural rubber has several drawbacks, including low-temperature susceptibility. Also, natural rubber has some downsides that cause it to degrade over time. They have unfavorable chemistry with hydrocarbons like oils and greases. Because of these aspects, dependency on synthetic rubber, including isoprene rubber, has become necessary. Synthetic rubber alterations including isoprene rubber will acquire eminence in the near future, propelling the global isoprene rubber market forward.
Isoprene rubber market advancement explicitly correlates with various end sector development because it is a key structural element of various components which has gained much attention with surging breakthroughs in the automotive parts to pharmaceuticals and industrial products, including butyl rubber also known as isobutyl-isoprene rubber (IIR). Accompanied by enhanced lifestyle and expenditure ability, the demand for automotive, particularly for commuting, has increased, which is expected to have a positive impact on deployment and a corresponding upward expansion pattern in the global isobutyl rubber market.
Depending on the type, the market is categorized as medical grade and industrial grade. Medical grade is foreseen to predominate. To address the high prevalence of latex allergy, alternative options including isoprene rubber, which has characteristics comparable to rubber, are positioned to efficiently substitute conventional rubber. Isoprene rubber is free of latex allergens which makes it to be exclusively used for medical-grade products. Aside from surgical gloves, such rubber is widely used in certain pharmaceutical products including catheters and balloons.
This equipment is best suited for usages in the healthcare sector for efficacious cardiovascular disease therapies including the entrance of catastrophic arteriovenous blockages. Several people have died as a result of premature balloon bursts caused by production flaws. Deployment of strong, isoprene rubber-based catheters and balloons has gained far-reaching prominence in subsequent years to primarily offbeat such incidences.
Moreover, synthetic polyisoprene compound has been tested and passed USP XXII biological Class IV Testing for medical compatibility. This renders this polymer an excellent alternative for product lines used in medical and surgical application fields.
Isoprene rubber manufacturers cater to a myriad range of application areas including tires, mechanical rubber products, glove & balloon, cable insulation, conveyor belts, driving belts, medical, footwear, consumer products, and others. The tire manufacturing and automotive sectors are major consumers of such rubber in the global market, and they are foreseen to drive prospective market growth. Despite a difficult 2020, the automotive sector has finally hit its stride in 2021, with revenues returning to pre-pandemic levels, providing a much-needed surge to the market.
The global automotive market’s export value is expected to be around $37 million in 2020, up more than $11 million from the previous year. The expanding demand for fuel-efficient automobiles has propelled the EV segment of the automotive sector to new heights, with record sales in emerging markets such as China. This rising demand in the automobile and tire sectors could propel the market forward in the coming years. Moreover, the exclusive trends in the growing markets 2021 include the major industrial polymer- Butyl rubber (isobutylene-isoprene rubber or IIR industrial rubber) which is utilized in the manufacturing of various types of tires and tires accessories.
Due to rising demand from the medical and tire manufacturing sectors, Asia Pacific is foreseen to be the largest regional market. Furthermore, accelerated industrialization combined with rising healthcare and automobile demand in developing economies is presumed to drive the market over the forecast period.
With the massive scale involvement of regional and global tire producers in the areas, countries such as China and India are pioneers in advancing the tire manufacturing sector forward. ATMA Annual Convention, held in the Indian capital of Delhi, was solely focused on improving collaborative endeavors aimed at automobile manufacturers and the tire sector.
A prevalent platform for coordinated projects of vehicle manufacturers and tire producers is essential in the face of remarkable enhancements in the automotive sector to pander to evolving transportation needs. Such novel breakthroughs are likely to keep demand for synthetic rubber, including isoprene rubber, insatiable, resulting in regional market advancement.
Owing to compelling demand from the healthcare industry, North America is the second-largest market. The advancement of the market in this area is being driven by soaring industrialization and advanced nation’s spiked adoption rate. The rubber manufacturing companies in this area are constantly advancing breakthroughs, and as a result, producers are broadening their product portfolios and concentrating on mergers and acquisitions to enhance their business footprint in this area. Furthermore, the demand for medical facilities is foreseen to expand rapidly in the region which will aid in overall market growth.
Goodyear Rubber and Tire Company, Nizhnekamskneftekhim Inc., Sibur, JSR Corporation, Zeon Corporation, JSR Corporation, KauchukSterlitamak, Dow Chemical Company, Yikesi New Material, Tpi New Material, Kraton Corporation, among others, are the key players in the market.