Polyisoprene Market By Type (Natural Rubber, Synthetic Rubber), By Application (Tires & Related Products, Belt & Hose, Latex, Footwear, Non-Automotive Engineering, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global polyisoprene market was valued at $21.5 billion in 2021, and is projected to reach $36.4 billion by 2031, registering a CAGR of 5.5% from 2022 to 2031.
Polyisoprene are natural polymers composed of isoprene monomers that can be classified as cis or trans. Polyisoprene is refers to a group of polymers that are made by polymerizing isoprene. Polyisoprene is commonly used to refer to synthetic cis-1,4-polyisoprene, made by the industrial polymerization of isoprene. Natural forms of polyisoprene are also used in substantial quantities, the most important being 'natural rubber' (mostly cis-1,4-polyisoprene), which is derived from the sap of trees. Due to the great elasticity of both synthetic polyisoprene and natural rubber, they are used to manufacture tires and a variety of other products. Polyisoprene compounds are used in rubber bands, cut thread, baby bottle nipples, and extruded hoses, along with other such items. Polyisoprene that is mineral-filled finds applications in footwear, sponges, and sporting goods. Other important uses include medical/health applications and sealants and adhesives.
The growth of the market is directly proportional to the growth of the synthetic rubber industry. Trends in the tire industry and other synthetic rubber products have an impact on polyisoprene producers. Factors, such as the growing demand for elastomers in the automotive, industrial, footwear, and medical industry, are expected to drive the demand for polyisoprene. Increasing usage of polyisoprene in surgical gloves is also expected to boost the growth of polyisoprene growth.
The global Polyisoprene market is segmented on the basis of type, application, and region. On the basis of type, the global Polyisoprene market is segmented into fly ash, slag cement and silica fume and others. The applications of polyisoprene include residential, commercials and others. On the basis of region, the global polyisoprene market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the market, followed by LAMEA and Europe.
Major players operating in the global Polyisoprene market are, Exxon Mobil Corporation, Haihang Industry Co., Ltd., Kent elastomer products, Kuraray Co., Ltd., SIBUR, The Goodyear Tire & Rubber Company, Dupont.
IMPACT OF COVID-19 ON THE GLOBAL POLYISOPRENE MARKET
The outbreak of the COVID-19 pandemic has had an adverse impact on the global economy as governments globally were forced to implement lockdowns to prevent the spread of the virus. As a result, the operations of polyisoprene were hampered.
COVID-19 has been spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
Some of the major economies suffered from the COVID-19 crises include, Germany, France, Italy, Spain, UK, and Norway.
Due to COVID-19 pandemic, transport limitations were implemented, which resulted in reduced industrial production and disrupted supply chains. Thus, affecting the global economic growth by a substantial proportion and severely impacting the market growth.
Companies were not earning any profit as a result of the work stoppage and not only the companies lost the money but they also lost suppliers who were providing the required materials to various companies to be used in the construction sector. All those suppliers also faced huge losses.
The COVID-19 pandemic impacted negatively on the manufacturing and industrial industries due to a scarcity of resources in various parts of the globe. The industry's top players are concerned about the market's prospects and are rethinking their strategies to meet the challenge.
Ever since the pandemic, industries across the sectors, such as electrical businesses, have experienced supply chain disruptions and significant delays in new installations in their offices as well as commercial applications. These steps are hammering the industries and posing challenges to their growth potential.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the polyisoprene market analysis from 2021 to 2031 to identify the prevailing polyisoprene market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the polyisoprene market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global polyisoprene market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
Natural Rubber
Synthetic Rubber
By Application
Tires Related Products
Belt Hose
Latex
Footwear
Non-Automotive Engineering
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest Of Asia Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Shell
Exxon Mobil Corporation
Haihang Industry Co., Ltd.
JSR Corp
Kuraray Co., Ltd.
SIBUR
The Goodyear Tire & Rubber Company
Cray Valley
ZEON CORPORATION
DUPONT
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