The global isoprene market size reached US$ 4.52 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.95 Billion by 2028, exhibiting a growth rate (CAGR) of 7.12% during 2023-2028. The rapid expansion of the automotive industry, increasing product applications in the rubber industry, and the utilization of biotechnology to produce isoprene using microorganisms represent some of the key factors driving the market.
|Market Size in 2022
||US$ 4.52 Billion
|Market Forecast in 2028
||US$ 6.95 Billion
|Market Growth Rate (2023-2028)
Isoprene (C5H8) is a colorless, flammable, and highly reactive volatile organic compound (VOC) with a characteristic odor. It is commercially produced through the thermal cracking of petroleum-based feedstocks and extraction from renewable sources, such as biomass. Isoprene is widely used to manufacture synthetic rubber, adhesives, coatings, perfumes, pesticides, cable wrappings, packaging, and medical devices. It exhibits high durability, excellent tensile strength, enhanced mechanical properties, ultra-low modulus, and resistance to wear and tear, chemicals, and moisture. It is also a non-toxic, highly versatile, and eco-friendly substance that reduces adverse environmental impact and fully degrades in the presence of microorganisms. As a result, isoprene finds extensive applications across the automotive, rubber, construction, healthcare, agriculture, renewable energy, and chemical industries.
Isoprene Market Trends:
The rising product utilization in the automotive industry is one of the primary factors driving the market growth. Isoprene is widely used to produce electrical and acoustic insulation materials and tires for cars, trucks, and other vehicles owing to its high durability, better grip, and excellent wear resistance. Furthermore, increasing product application in the rubber industry to produce seals, gaskets, hoses, gloves, o-rings, conveyor belts, diaphragms, rubber flooring, vibration dampeners, and shoe soles is providing an impetus to the market growth. Apart from this, the widespread product demand as a chemical feedstock to produce resins, coatings, antioxidants, surfactants, elastomers, and isoprene derivatives, such as styrene-isoprene-styrene (SIS), is propelling the market growth. Additionally, the utilization of biotechnology to produce isoprene using microorganisms, such as bacteria and yeast, which, in turn, decreases reliance on fossil fuels, improves production yield, and reduces carbon footprint, is positively influencing the market growth. Besides this, the introduction of bio-based isoprene, which is produced from renewable sources, such as biomass and agricultural waste, is favoring the market growth. Moreover, extensive production application in the healthcare industry to produce catheters, cohesive bandages, surgical gloves, medical stoppers, tube connectors, and drug delivery systems is facilitating the market growth. Other factors, including the rapid industrialization activities, rising investment in the research and development (R&D) of advanced production techniques, increasing product application in food packaging, and the growing product demand to produce renewable energy, such as biofuels and biogas, are anticipated to drive the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global isoprene market report, along with forecasts at the global, regional, and country levels for 2023-2028. Our report has categorized the market based on grade and end use industry.
- Polymer Grade
- Chemical Grade
The report has provided a detailed breakup and analysis of the isoprene market based on the grade. This includes polymer and chemical grade. According to the report, polymer grade represented the largest segment.
End Use Industry Insights:
- Industrial Rubber
A detailed breakup and analysis of the isoprene market based on the end use industry has also been provided in the report. This includes tires, industrial rubber, adhesives, and others. According to the report, tires accounted for the largest market share.
- North America
- United Kingdom
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for isoprene. Some of the factors driving the Asia Pacific isoprene market included rapid industrialization activities, increasing government initiatives, and significant technological advancements.
The report has also provided a comprehensive analysis of the competitive landscape in the global isoprene market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Chevron Phillips Chemical Company LLC, China Petrochemical Corporation, ENEOS Materials Trading Co. Ltd., Kuraray Europe GmbH (Kuraray Co. Ltd.), Lyondellbasell Industries Holdings B.V., Ningbo Jinhai ChenguangChemical Corporation, Pon Pure Chemicals Group, Shandong Yuhuang Chemical Group Co. Ltd., Shell Plc, Zibo Luhua Hongjin New Material Group Co. Ltd., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Isoprene Market Report Scope:
|Base Year of the Analysis
| Historical Period
|Scope of the Report
||Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
- End Use Industry
||Polymer Grade, Chemical Grade
|End Use Industries Covered
||Tires, Industrial Rubber, Adhesives, Others
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Chevron Phillips Chemical Company LLC, China Petrochemical Corporation, ENEOS Materials Trading Co. Ltd., Kuraray Europe GmbH (Kuraray Co. Ltd.), Lyondellbasell Industries Holdings B.V., Ningbo Jinhai ChenguangChemical Corporation, Pon Pure Chemicals Group, Shandong Yuhuang Chemical Group Co. Ltd., Shell Plc, Zibo Luhua Hongjin New Material Group Co. Ltd., etc.
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||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report:
- How has the global isoprene market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global isoprene market?
- What is the impact of each driver, restraint, and opportunity on the global isoprene market?
- What are the key regional markets?
- Which countries represent the most attractive isoprene market?
- What is the breakup of the market based on the grade?
- Which is the most attractive grade in the isoprene market?
- What is the breakup of the market based on the end use industry?
- Which is the most attractive end use industry in the isoprene market?
- What is the competitive structure of the global isoprene market?
- Who are the key players/companies in the global isoprene market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the isoprene market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global isoprene market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the isoprene industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.