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Polyisoprene Market to Exceed 20 Million Tons by 2024

According to the recent study by IMARC Group, titled “Global Polyisoprene Market Report: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market reached a volume of 14.8 Million Tons in 2018, registering a CAGR of around 3% during 2011-2018. Polyisoprene refers to a polymer of isoprene (C5H8) which is naturally found in balata and gutta-percha. It can be synthetically produced by the polymerization of 2-methyl-1,3-butadiene with a Ziegler-Natta catalyst. Polyisoprene elastomers closely resemble natural rubber in properties as well as molecular structure. They can undergo elastic deformation under stress and return to their previous size without affecting the original form. As these elastomers are inexpensive and fatigue resistant in nature, they find applications in the production of latex products, footwear, non-automotive engineered products, rubber springs, adhesives and coatings.

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Market Drivers:

Due to its high purity and gum tensile strength, polyisoprene is widely used in food- and medical-grade products, including hospital sheeting, milk tubing, surgical gloves, baby bottle nipples and condoms. Moreover, polyisoprene is employed in the automotive industry for manufacturing tires, door and window profiles, hoses, matting, and belts. Elevating income levels have escalated the sales of automobiles which, in turn, have propelled the demand for polyisoprene in this industry. Apart from this, continuous research and development have led to the introduction of new polyisoprene compounds which exhibit properties such as low needle penetration resistance and high resealability, making them suitable for manufacturing injection septa. Further, as isoprene is the main feedstock used for making polyisoprene, its reliable supply reduces the risk of supply volatility, minimizes the issue of fluctuating supply costs and helps in efficient production planning. Looking forward, the market is projected to reach a volume of 20.2 Million Tons by 2024, expanding at a CAGR of 5.6% during 2019-2024.

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Market Segmentation:

Market Breakup by Type

Natural Polyisoprene
Synthetic Polyisoprene

Market Breakup by Application

Tires and Related Products
Latex Products
Non-Automotive Engineering
Belting and Hose

Market Breakup by Region

United States
Western Europe

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Polyisoprene Market to Exceed 20 Million Tons by 2024

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Last Updated: 18-Jun-2019