Global Polyisoprene Market to reach a valuation of USD 2.85 billion by 2027

January 11, 2022

According to the research report titled ‘Global Polyisoprene Market Size study, by Application (Tires & Related Products, Latex, Footwear, Non-automotive Engineering, Belts & Hose), and Regional Forecasts 2021-2027’, available with MarketStudyReport, global polyisoprene market was worth USD 2.15 billion in 2020 and is expected to register 4.1% CAGR over 2021-2027, reaching a valuation of USD 2.85 billion by the end of the forecast period.

Growing consumption of polyisoprene in the medical field, expanding footwear sector, and increasing automation in automotive manufacturing segment are driving the growth of global polyisoprene market. 

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In this regard, the Indian Brand Equity Foundation (IBEF) reported that the automobile exports from India rose from 436,500 units in April-June 2020 to 1,419,430 units in April-June 2021.

For the unversed, polyisoprene is a material used for making sporting goods, rubber, sponges, and footwear. It is also used in the medical sector for the production of surgical gloves, as well as in making adhesives and sealants.

Furthermore, surging demand for elastomers across various sectors is creating lucrative prospects for businesses in this domain. 

Despite the positive outlook, highly volatile prices of raw materials are likely to hinder industry development in the forthcoming years. 

Based on application spectrum, worldwide polyisoprene industry is divided into latex, tires & related products, footwear, belts & hose, and non-automotive engineering. 

From a regional standpoint, the market spans across North America (Canada, U.S.), Latin America (Brazil, Mexico), Europe (France, Germany, U.K., Italy, Spain), and Asia Pacific (India, China, Japan, Australia, South Korea). Europe market currently holds a major market share, owing to the presence of well-established oil & gas, and automotive sector. 

Additionally, Asia Pacific market is poised to grow at a remarkable rate during the predicted timeline due to robust production of vehicles in the region. 

The competitive landscape of global polyisoprene marketplace is defined by companies such as DuPont de Nemours, Inc., Zeon Corporation, TSRC Corporation (Taiwan Synthetic Rubber Corp.), Kuraray Co., Ltd., JSR Corporation, Goodyear Tire & Rubber Company, Asahi Kasei Corporation, PJSC 'Nizhnekamskneftekhim' (NKNK), Exxon Mobil Corporation, and Preferred Compounding Corporation among others.

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