Global Isoprene Monomer Market growing at a CAGR of 4.3% from 2023 to 2031
Category : Materials And Chemicals | Published Date : Nov 2023
Key Market Overview
Consegic Business Intelligence analyzes that the isoprene monomer market is predicted to grow at a compound annual growth rate of 4.3% from 2023 to 2031 and is expected to reach USD 2,876.84 million in 2031 and 2,053.14 million in 2023 which was valued at USD 1,977.60 million in 2022.
The report highlights the growing demand for isoprene monomer for rubber is boosting isoprene monomer market growth, which is augmenting the global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the Isoprene monomer market.
Global Isoprene Monomer Market By Overview
The isoprene monomer market is bifurcated into the product, application and end-user industry. Based on the product, the market is segmented into polymer grade and chemical grade. In 2022, the polymer grade segment dominate the overall isoprene monomer market. Based on the application, the market is segmented into polyisoprene, styrene isoprene monomer (SIR), isobutylene isoprene rubber (IIR), styrene isoprene styrene (SIS), and others. In 2022, the polyisoprene segment dominate the overall isoprene monomer market. Based on end-user industry, the market is segmented into tire and rubber, adhesives and sealants, construction, sports equipment, medical, and others. In 2022, the tire and rubber segment dominate the overall isoprene monomer market.
Get Free SampleMarket Dynamics
Driver:
- Growing demand for isoprene monomer for rubber is boosting isoprene monomer market growth.
- The growing use of isoprene in footwear is driving the demand.
Restraints:
- The high toxicity of isoprene is hampering the isoprene monomer market.
Market Segmentation:
| Report Attributes | Report Details |
| By Product | Polymer Grade and Chemical Grade |
| By Application | Polyisoprene, Styrene Isoprene Monomer (SIR), Isobutylene Isoprene Rubber (IIR), Styrene Isoprene Styrene (SIS), and Others |
| By End-user Industry | Tire and Rubber, Adhesives and Sealants, Construction, Sports Equipment, Medical, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The market is dominated by certain major companies such as Braskem, China Petrochemical Corporation, Goodyear International Corporation, and Kuraray. Co., Ltd., which have a strong market position in the current market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions. Furthermore, the isoprene monomer market is expected to witness substantial growth in the coming years due to increasing focus on the isoprene production from renewable raw materials such as sugar and corn in key regions such as North America, Asia Pacific, and others.
The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.
- Braskem
- China Petrochemical Corporation
- Goodyear International Corporation
- Kuraray. Co. Ltd.
- LOTTE Chemical CORPORATION
- LyondellBasell Industries Holdings B.V.
- Mitsui & Co. Benelux S. A./N. V.
- Shandong Yuhuang Chemical Co.
- Shell
- ZEON CORPORATION