Global Isoprene Monomer Market to Reach USD 2,876.84 Million by 2031 | CAGR of 4.3%
Category : Materials And Chemicals | Published Date : Oct 2024 | Type : Press Release
Battery Racks Market Scope & Overview:
Consegic Business Intelligence in the newly published report analyzes that Battery Racks Market size was valued at USD 1,977.60 Million in 2022 and is projected to reach USD 2,876.84 Million by 2031, growing at a CAGR of 4.3% from 2023 to 2031. Isoprene monomer is a volatile, colorless liquid with the chemical formula C5H8, primarily used as a building block for synthetic rubber and various polymers, including styrene-isoprene-styrene (SIS) and polyisoprene.
The report comprises the Isoprene Monomer Market Share, Size & Industry Analysis, By Product Type (Polymer Grade and Chemical Grade), By Application (Polyisoprene, Styrene Isoprene Monomer (SIR), Isobutylene Isoprene Rubber (IIR), Styrene Isoprene Styrene (SIS), and Others), By End-user Industry (Tire and Rubber, Adhesives and Sealants, Construction, Sports Equipment, Medical, and Others), By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa), and Forecast, 2023-2031.
The report contains detailed information on Isoprene Monomer Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
The growing demand for isoprene monomer in the rubber industry, particularly for tire manufacturing, is driving market growth. Additionally, the increasing application of isoprene monomer in the adhesives and medical equipment industries presents significant opportunities for the market.
Segmental Analysis :
Based on product type, the market is segmented into polymer grade and chemical grade.
- Polymer grade held the largest market share in 2022, driven by its application in the tire and rubber industries for the production of synthetic rubber and anti-vibration mounts.
- Chemical grade is projected to grow steadily, driven by its use in various industrial processes.
Based on application, the market is segmented into polyisoprene, styrene-isoprene-styrene (SIS), styrene isoprene monomer (SIR), isobutylene isoprene rubber (IIR), and others.
- Polyisoprene dominated the market in 2022, due to its widespread use in the production of tires and other rubber-based products.
- Styrene Isoprene Styrene (SIS) is expected to witness the fastest growth, supported by its use in adhesives, sealants, and coatings.
Based on end-user industry, the market is segmented into tire and rubber, adhesives and sealants, construction, sports equipment, medical, and others.
- Tire and rubber held the largest market share in 2022, accounting for 32.19% of the total market, driven by increasing demand in the automotive sector.
- Construction is expected to grow at the fastest rate, fueled by the rising use of isoprene monomer in adhesives and rubber-based building materials.
Based on regions, the global market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
- North America accounted for the largest market share in 2022, driven by the robust automotive and manufacturing sectors.
- Asia Pacific is expected to witness the fastest growth, driven by rapid industrialization, particularly in China and India, and the expansion of the automotive and construction industries.
| Report Attributes | Report Details |
| Study Timeline | 2017-2031 |
| Market Size in 2031 | USD 2,876.84 Million |
| CAGR (2024-2031) | 4.3% |
| By Product Type | Polymer Grade, Chemical Grade |
| By Application | Polyisoprene, Styrene Isoprene Styrene (SIS), Styrene Isoprene Monomer (SIR), Isobutylene Isoprene Rubber (IIR), Others |
| By End-User Industry | Tire and Rubber, Adhesives and Sealants, Construction, Sports Equipment, Medical, Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Isoprene Monomer Industry:
- Braskem
- China Petrochemical Corporation
- Goodyear International Corporation
- Kuraray. Co. Ltd.
- LOTTE Chemical CORPORATION
- LyondellBasell Industries Holdings B.V.
- Mitsui & Co. Benelux S. A./N. V.
- Shandong Yuhuang Chemical Co.
- Shell
- ZEON CORPORATION
Recent Industry Developments :
- In March 2022, China Petrochemical Corporation (Sinopec) announced plans to invest USD 2 billion in expanding its isoprene monomer production capacity in China, with completion expected by 2025.
