Isoprene Monomer Market: Segmentation, Opportunities, Trends & Future Scope to 2
Posted by amanjaincmi on April 19th, 2019
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.
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.
Download PDF Brochure: https://www.coherentmarketinsights.com/insight/request-pdf/1948
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.
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.
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.
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.
Isoprene Monomer Market
On the basis of grade type, the global isoprene monomer market is segmented into:
On the basis of application, the global isoprene monomer market is segmented into:
Isoprene Rubber (IR)
Others (Co-block Polymers)
On the basis of end-use industry, the global isoprene monomer market is segmented into:
Adhesives and Sealants
Natural and Synthetic Rubber
Others (Epoxy Resin Hardening Agents)
On the basis of region, the global isoprene monomer market is segmented into:
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Rest of Middle East
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysisthrough various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
Coherent Market Insights
1001 4th Ave,
Seattle, WA 98154
Email: email@example.comAlso See: Monomer Market, Isoprene Monomer, Natural Rubber, Globalisoprene Monomermarket, Rubber, Monomer, MarketTop Searches - Trending Searches - New Articles - Top Articles - Trending Articles - Featured Articles - Top Members
Copyright © 2019 Uberant.com532,297 total articles and counting.