The Isoprene Market was valued at USD 1.93 billion in 2015 and is projected to reach USD 2.96 billion by 2021, at a CAGR of 7.4%, from 2016 to 2021. About 70% of isoprene is used to manufacture synthetic rubber called polyisoprene. Polyisoprene has the same basic formula as natural rubber, and thus it is a synthetic version of natural rubber, having the same properties as natural rubber. Also, isoprene is largely used in manufacturing SIS, IIR, and other derivatives. The tire industry is experiencing high growth because of the growing automotive industry. The isoprene market is increasing due to its increasing applications in tires, conveyor belts, hoses, molded rubber, and also in medical equipment such as gloves and balloons. The demand for isoprene in the automotive industry for manufacturing of polyisoprene is expected to be driven by the growing automotive sales in China and India. The growing demand for fuel efficiency and eco-friendly tires is driving the growth of the tire industry and in turn the growth of the isoprene market.

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Key Market Players -

Some of the major players in the isoprene market include Nizhnekamskneftekhim (Russia), SIBUR (Russia), The Goodyear Tire & Rubber Company (U.S.), Royal Dutch Shell Plc (Netherlands), Kuraray Co. Ltd. (Japan), ZEON Corporation (Japan), and LyondellBasell Industries N.V. (U.S.).

The polymer grade type is estimated to lead the isoprene market

Polymer grade type of isoprene is majorly used for polyisoprene application. Polyisoprene has similar properties like natural rubber. Properties like toughness, abrasion and cold resistance, high tensile strength, high resilience, and good hot tear strength makes it suitable for tire manufacturing. Polymer grade isoprene is also used in industries such as medical, pharmaceutical packaging, and automotive. It is estimated to be the leading isoprene type in the market due to its growing use in diversified industries.

Polyisoprene application accounted for the largest share of the isoprene market

Polyisoprene application accounted for the largest share of the isoprene market, followed by styrene isoprene styrene. Isoprene is primarily used to make polymeric materials. It is used to produce polyisoprene, which is produced by polymerizing isoprene monomer; it is also used to produce styrene isoprene styrene (SIS), isobutylene-isoprene rubber (IIR), and other specialty chemicals.

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The tire industry is estimated to lead the isoprene market

The tire industry accounted for the major share of the isoprene market, followed by adhesives. Polyisoprene application is used in tire manufacturing.

The rising demand for isoprene from Europe is expected to be a key factor driving the growth of isoprene market in the region

Europe is estimated to be the leading market for isoprene. Russia is projected to be the fastest-growing market for isoprene during the forecast period. Germany, France, and the U.K. are other countries contributing to the growth of isoprene market in this region. The increasing demand for isoprene from the end-use industries such as tires, non-tires, adhesives, and others is expected to drive the growth of the isoprene market in these countries.