Isoprene Monomer Market

Isoprene Monomer Market – Size, Share, Outlook,
and Opportunity Analysis, 2018 – 2025
Isoprene or 2- methylbuta-1, 3-diene is a colorless volatile liquid that is produced by
plants and is employed in the manufacture of various copolymers such as styrene,
isobutylene, butadiene, and others. Isoprene monomer is widely used in the
production of synthetic rubber called as polyisoprene. It is also used in the
manufacturing of conveyer belt, sponge, electric wire and cable, medical and sports
equipment, and others, which is expected to drive market growth.
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Increasing demand for natural and synthetic rubber, owing to increasing automotive
industry is driving growth of isoprene monomer market. According to the Association
of Natural Rubber Producing Countries (ANRPC), the world consumption of natural
rubber is 5.822 million tones, which increased by 6.2% during the period of January
2018 to May 2018.
Also, with increasing demand for personal vehicles and extensive economic growth,
the tire and tire components industry is expected to emerge as the largest end-use
industry for natural rubber in 2017, thereby fueling growth of isoprene monomer
market. According to the International Organization of Motor Vehicle Manufacturers
(OICA), the motor vehicle production in Europe was 21.49 billion in 2016, which
increased up to 22.16 billion in 2017.
However, isoprene is carcinogenic to humans, which is restraining growth of
isoprene monomer market. Isoprene is classified as hazardous under the globally
Harmonized System on Classification and Labeling (GHS), owing to its high
flammable property, which is in turn negatively impacting the isoprene monomer
market growth.
Market Trends
Among application, polyisoprene segment is expected to witness significant growth
in the near future, owing to increasing demand for isoprene rubber in tire industry.
According to People’s Government of Jilin Province, the growth rate of isoprene
rubber was 3.1% during 2010-2015.
The adhesives and sealants end-use industry segment is expected to show
significant growth in the global isoprene monomer market over the forecast period.
This is attributed to surging demand for isoprene monomer in automobile and
construction industry.
According to the India Brand Equity Foundation (IBEF), the Indian construction
industry is expected to grow to a value of US$ 5 billion by 2020.
Moreover, due to stringent government regulations on VOC emissions, end-use
industries are opting for alternatives to organic solvents. For instance, SIKA AG
introduced a new-generation adhesive called SikaBond AT-75 for wood floor
bonding, meeting highest EHS regulation. This is expected to be a major challenge
for growth of adhesive and sealants end-use industry segment over the forecast
period.
Key manufacturers are focusing on launching new products and plant expansion to
expand their product portfolio and to cater to increasing consumer demand. For
instance, in September 2013, Ansell launched an array of products in Touch n Tuff
product line, which includes polyisoprene gloves for workers in aseptic environment.
Market Outlook
North America holds a significant position in the global isoprene monomer market,
owing to rising demand for tire in automotive industry. According to the U.S.
International Trade Administration (ITA), U.S. is the second largest market for
vehicle production and sales in the world. In 2017, the sales value of light vehicles
was 17.1 million units in the U.S.
Asia Pacific is expected to be the fastest growing region in the global isoprene
monomer market over the forecast period. Asia Pacific is a lucrative market for
natural rubber, primarily driven by the strong performance of automobile industry in
the region. The rise in number of personal vehicles and transit of consumer goods,
people and raw material has boosted automobile industry. According to the China
Association of Automobile Manufacturers (CAAM) and Society of Indian Automobile
Manufacturers (SIAM), sales of cars in China stood at 28.03 million in 2016 and was
3 million in India.
Key Players
Some of the leading players operating in the global isoprene monomer market
include Kraton Corporation, Royal Dutch Shell Plc., JSR Corporation, Kuraray Co.,
Ltd, Amyris, Inc., Precision Dippings Manufacturing Ltd., Exxon Mobil Corporation,
and Zeon Corporation.
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The research report on Isoprene Monomer Market is segmented by Grade Type, by Application, by End-use Industry and by Region – Size, Share, Outlook, and Opportunity Analysis, 2018 – 2025

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