June 09, 2020
According to the research report titled ‘Isoprene Rubber (IR) Latex Market Size By Application, By End-user Industry, Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global isoprene rubber (IR) latex market is expected to showcase significant growth through 2026.
Growing demand for medical gloves in healthcare sector along with increasing awareness pertaining to advantages of using a condom as birth control measure are major factors driving the growth of isoprene rubber latex market. Notably, isoprene is synthetic material that combines the top qualities of rubber latex without incorporating latex proteins, which might result in latex allergies. It is also inexpensive, hence is majorly used as commercial rubber.
Isoprene rubber (IR) have molecular structure similar to latex, which makes it ideal choice among medical professionals as it offers same sensitivity, comfort and feel. Since it eliminates the chances of acquiring Type 1 allergies, the product is not only easy to use but is used extensively for clinical applications. IR is also used to produce catheters as it provides low modulus and elongation, high strength, easy processing, and superior quality, which in turn is aiding the market expansion.
Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/1241496/
Based on the application spectrum, condoms segment is slated to record a y-o-y growth rate of 5.8% between 2020 and 2026. Increased pervasiveness of sexually transmitted diseases along with rising cognizance regarding the benefits of condoms are fueling the segmental growth.
Meanwhile, market share from the others application, which comprises of footwear, tube connectors, tourniquet bands, needle shields and medical stoppers, is expected to grow with a CAGR of 2.5% through 2026.
Considering the geographical landscape, isoprene rubber latex industry in Europe is anticipated to register a 2.8% growth rate during 2020-2026. Growing elderly population and escalating healthcare expenditure in countries such as Belgium, Netherlands, France, Sweden and Germany are swaying the business dynamics in Europe.
Alternatively, Middle East & Africa market is predicted to expand with a CAGR of 2.5 CAGR through 2026. Increasing import of IR latex products from Asia-Pacific and dearth of condom and glove manufacturing industries in the region have resulted in modest growth of isoprene rubber latex industry in MEA.
Kuraray Co. Ltd., Puyang Linshi Chemical & New Material Co. Ltd., JSR Corp., Kent Elastomer Products Inc. and Kraton Corp. are the major contenders in worldwide isoprene rubber latex industry.