New York, NY -- (SBWire) -- 07/17/2019 --The report considers the years 2016 and 2017 for historical data, 2018 as the base year and the years 2019 to 2026 as the forecast period. It gives an extensive outlook of the industry by evaluating the sales, demand, trends, pricing, revenue, total earnings, gross profit and potential opportunities in the business. The forecast predicts the demand and growth rate for the business in the upcoming years.
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Isoprene monomer also known as Polyisoprene is a colourless liquid produced by plants and is used in the manufacture of various coploymers and is mostly used in the production of synthetic rubber. The worldwide market for Isoprene Monomer is expected to grow at a CAGR of roughly 6.0% over the next five years. The increase in demand of Isoprene is primarily due to the growth of the automotive industry. The rate at which natural rubber is being exhausted is due to the increasing demand for personal vehicles and the general growth in the need of transportation for the growing public, which in turn has increased the demand of synthetic rubber. The reason Isoprene market has had a slow growth is because it is carcinogenic to humans and has been classified 'hazardous' by the GHS (Globally Harmonized System) on Classification and labelling due to its highly flammable nature. However, the tide is changing due to increasing demand of synthetic rubber.
The Isoprene Monomer market in the future will also gain slight opportunities in the department of speciality chemical products, which include flavoring, perfumes, vitamins, epoxy hardeners, and pharmaceutical products, and will also carry on with substantial growth with the increasing usage of extruded hoses, rubber bands, pipe gaskets, shock absorbing bushings, etc. The isoprene monomer end-use industry will also grow steadily in the global isoprene market during the forecasted period due to the increasing demand in the automobile and construction industry. Thus, the various demands of rubber products will act as a catalyst for the growth of the Isoprene Monomer market during the forecast period.
Key Findings in the Isoprene Monomer Market
According to the Association of Natural Rubber Producing countries (ANRPC), the worldwide consumption of rubber is 5.822 million tones, which has increased by 6.2% between January 2018 to May 2018 alone which is a promising data in the future growth prospects of the Isoprene Monomer industry. Keeping all such facts in check, this study provides an extensive analysis of the Isoprene market trends and shares from 2016 to 2025 to identify the market opportunities and analyze industry development. The forecast also provides the estimated demand for the market and their impact on the sizes of these companies in accordance with the competitive situation, sales, revenue and global market by landscape contrast in order to help the reader develop profitable business strategies.
Global Isoprene Monomer Market
The global Market for Isoprene Monomer will grow steadily in the forecasted years as observed by the outcome of the analysis provided in this study. All the manufacturers in the world are working towards the improvement of the Isoprene monomer and its application. They are also developing their own technology to produce Isoprene monomer. Russian companies like Togliattikauchuk apply Dehydrogenation method because of the low production of natural rubber while the American and Chinese companies use the C5 fraction extraction method, which is also related to the petroleum refinery situation in these areas. Although the production of Isoprene Monomer is increasing globally, its price is still fluctuating. This is because increasing of crude oil price and the restrictions on the supply of natural rubber to stop it from depleting.
The key geographical regions mapped here are North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. This report gives a competitive analysis of the individual standing of the companies against the global landscape. The forecast also provides the estimated trends in demand for the market and their impact on the sizes of these companies to help the reader curate profitable business strategies.
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Key manufacturers of Isoprene Monomer
- Nizhnekamskneftekhim
- Sibur
- Synthez-Kauchuk
- Shell
- JSR
- Goodyear Chemical
- Kuraray
- ZEON CORPORATION
- SINOPEC
- Jinhai Chenguang
- Zibo Luhua Hongjin New Material
- Shandong Yuhuang Chemical
- Kaixin
- Yikesi
- Yuangang Petrochemical
Isoprene Monomer Market Segment by type:
- Polymerization Grade
- Chemical Grade
Isoprene Monomer Market Segment by application:
- IR
- SIS
- IIR
- Fine Chemicals
Market segment by Region/Country include:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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Isoprene Monomer Market Demand, Size, Opportunities & Forecast by 2026: Shell, Kuraray, Kaixin, Goodyear Chemical, Synthez-Kauchuk