The recently published report by IMARC Group, titled “Polyisoprene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the global polyisoprene market reached a volume of 15 Million Tons in 2017, registering a CAGR of around 4.3% during 2010-2017. Polyisoprene is an elastomer which forms the primary chemical constituent of natural rubber and can also be synthesised from petroleum by-products. It can undergo elastic deformation under stress and return to its previous size without permanent deformation. The most popular polyisoprene isomers are cis-1,4 polymer and trans-1,4 polymer each of which has a unique set of properties. Polyisoprene is used in a wide-range of applications on account of its high resilience and water resistance; low water swell, hysteresis and rolling resistance; flex fatigue resistance and large stretch ratio.
In the recent years, the demand for polyisoprene is elevating as it is extensively being used in food- and medical-grade products, including milk tubing, hospital sheeting, baby bottle nipples, condoms and surgical gloves, due to its high purity and gum tensile strength. Apart from this, polyisoprene is used in the automotive industry for tires, hoses, belts, matting, door and window profiles, flooring and dampeners. As the automotive industry is witnessing a rapid growth across the world, it is further bolstering the demand for polyisoprene. Additionally, with the continuous research and development, new polyisoprene compounds have been introduced which exhibit various properties, such as low needle penetration resistance and high resealability, making them suitable for injection septa applications. Some of the other factors fuelling the growth of the market are surging consumption of polyisoprene in coatings and adhesives, rising disposable income of the consumers and rapid urbanisation. However, the high cost of polyisoprene in comparison with natural rubber latex is projected to hamper the growth of the market. Looking forward, the market is projected to reach a volume of 19 Million Tons by 2023.
- On the basis of application, the market has been segmented into tires and related products, latex products, footwear, non-automotive engineering, and belting and hose. Currently, the manufacturing of tires and related products dominates the market, accounting for the majority of the global share.
- Region-wise, China enjoys the leading position in the global natural polyisoprene industry, holding the largest share. China is followed by India, United States, Japan and Thailand. On the other hand, Russia represents the biggest market of the synthetic polyisoprene, followed by the United States, Japan, China and Western Europe.
- The competitive landscape of the market has also been examined with some of the key players being Sri Trang Group, Von Bundit Co. Limited, Halcyon, Thai Hua Rubber Co. Ltd., Kirana Megatara Group, Sinochem Group and China Hainan Rubber.
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