Global Isoprene Market Analysis 2023-2027: Rubber Demand Sparks Growth Surge While Sustainability Takes Center Stage
Dublin, Oct. 30, 2023 (GLOBE NEWSWIRE) -- The "Global Isoprene Market 2023-2027" report has been added to * ResearchAndMarkets.com's* offering.
*Quick Summary*
With the continuous growth and evolution of the global isoprene market, achieving a thorough understanding of trends, challenges, and opportunities is vital for success in this sector. This isoprene market research report provides comprehensive insights into the market's present and future scenarios, allowing you to anticipate and tackle potential obstacles effectively. In addition to the isoprene industry's global market size and segmentation, this report offers a detailed analysis of the competitive landscape, market trends, and potential opportunities.
The report is beneficial for various stakeholders who are connected to the isoprene industry. This includes manufacturers, raw material suppliers, investors, and decision-makers who would want to keep a firm pulse on the market. The demand for rubber and consequently, isoprene, is expected to be a major driver of the market. This report will aid in understanding this surge and prepare for potential futures in the isoprene market.
The sustainable production of isoprene is showcased as a key trend in the market, and our report details how major players are taking innovative strides in this direction, such as chemically recycling used tires. Stay ahead by learning about these innovations and leveraging them for competitive advantage. This market research report is instrumental in navigating these trends and thriving in the rapidly evolving isoprene market.
*Industry Insights*
The global isoprene market is on an impressive growth trajectory, poised to expand from $2.90 billion in 2022 to $3.15 billion in 2023 at a notable Compound Annual Growth Rate (CAGR) of 8.6%. Furthermore, the market is expected to reach $4.23 billion by 2027, maintaining a robust CAGR of 7.6%. A key highlight is the Asia-Pacific region, which not only dominated the isoprene market in 2022 but is projected to be the fastest-growing region in the forecast period.
*Rubber Demand Drives Isoprene Market Growth*
The escalating demand in the rubber industry is a driving force behind the growth of the isoprene market. Rubber, a versatile material, finds applications in various industries and can be processed and vulcanized. Isoprene, an essential industrial chemical, plays a pivotal role in the production of synthetic rubber, which has extensive utility across multiple sectors. According to data from the Malaysian Rubber Council, global exports and imports of rubber saw significant increases in 2021, rising by 9.6% and 11% from 2020. This surge in rubber demand is a significant factor fueling the expansion of the isoprene market.
*Sustainability Takes Center Stage*
In line with the global push for sustainable practices, the development of sustainable isoprene production methods is a prominent trend in the market. Major players are focusing their efforts on innovative technologies to maintain their position and contribute to a more eco-friendly society. For example, Bridgestone Corporation, a Japanese rubber and tire company, partnered with esteemed organizations to develop sustainable technology for high-yield isoprene production using chemical recycling. This technology aims to use used tires for isoprene production, promoting carbon neutrality and sustainability.
*Key Players in the Isoprene Market*
The isoprene market boasts a range of influential players, including Nizhnekamskneftekhim, SIBUR International GmbH, The Goodyear Tire & Rubber Company, Royal Dutch Shell Plc, Kuraray Co. Ltd., ZEON Corporation, LyondellBasell Industries N.V., JSR Corporation, Braskem S.A., and many more. Notably, DL Chemical Co., Ltd., a South Korea-based petrochemical company, made a significant acquisition in March 2022 by acquiring a full stake in Kraton Corp. for $2.5 billion. This strategic move has strengthened DL Chemical's position and expanded its reach in the isoprene market.
*Report Scope*
The comprehensive report on the isoprene market provides valuable insights into its dynamics, growth prospects, and key factors influencing its development. It addresses essential questions, including the following:
· Where is the largest and fastest-growing market for isoprene?
· How does the isoprene market relate to the overall economy, demographics, and similar markets?
· What factors will shape the market in the future?
The report encompasses several critical aspects:
1. *Market Characteristics*: Defining and explaining the isoprene market.
2. *Market Size*: Analyzing the market size ($ billion), covering historical growth and forecasting its future development.
3. *Forecasts*: Taking into account significant factors impacting the market, such as the effects of sanctions, supply chain disruptions, demand fluctuations due to global events, and the ongoing impact of COVID-19.
4. *Market Segmentations*: Breaking down the market into sub-markets.
5. *Regional and Country Breakdowns*: Providing a detailed analysis of the market in different geographical regions, along with historic and forecasted growth figures. Additionally, it explores the impact of COVID-19 on various regions.
6. *Competitive Landscape*: Describing the competitive nature of the market, market shares, and profiles of leading companies. Key financial deals that have shaped the market are identified.
7. *Trends and Strategies*: Analyzing market trends as it emerges from crises and offering insights on how companies can thrive during the recovery phase.
The isoprene market is undoubtedly on the path to substantial growth, driven by increasing demand in the rubber industry and a growing focus on sustainability. It's a market to watch for both investors and industry stakeholders.
*Key Attributes*
*Report Attribute* *Details*
No. of Pages 250
Forecast Period 2023-2027
Estimated Market Value (USD) in 2023 $3.15 Billion
Forecasted Market Value (USD) by 2027 $4.23 Billion
Compound Annual Growth Rate 7.6%
Regions Covered Global
*Key Topics Covered*
*1. Executive Summary*
*2. Isoprene Market Characteristics*
*3. Isoprene Market Trends And Strategies*
*4. Isoprene Market - Macro Economic Scenario*
4.1. COVID-19 Impact On Isoprene Market
4.2. Ukraine-Russia War Impact On Isoprene Market
4.3. Impact Of High Inflation On Isoprene Market
*5. Isoprene Market Size And Growth*
5.1. Global Isoprene Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Isoprene Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
*6. Isoprene Market Segmentation*
6.1. Global Isoprene Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
· Polymer Grade
· Chemical Grade
6.2. Global Isoprene Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
· Polyisoprene (IR)
· Styrene-isoprene-styrene (SIS)
· Isobutylene-isoprene rubber (IIR)
· Other Applications
6.3. Global Isoprene Market, Segmentation By End-Use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
· Tires
· Non-tires
· Adhesives
· Other End-Uses
*7. Isoprene Market Regional And Country Analysis*
7.1. Global Isoprene Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Isoprene Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
*A selection of companies mentioned in this report includes:*
· Nizhnekamskneftekhim
· SIBUR International GmbH
· The Goodyear Tire & Rubber Company
· Royal Dutch Shell PLC
· Kuraray Co. Ltd.
· ZEON Corporation
· LyondellBasell Industries N.V.
· JSR Corporation
· Braskem S.A.
· Finetech Industry Ltd
· Fortrec Chemicals & Petroleum Pte. Ltd.
· Haihang Industry Co. Ltd.
· China Petrochemical Corporation
· Dow
· Pon Pure Chemicals Group
· ExxonMobil Corporation
· Shandong Yuhuang Chemical Group Co. Ltd.
· Sinopec Corp.
For more information about this report visit https://www.researchandmarkets.com/r/pljmzw
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*Attachment*
· Global Isoprene Market
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