Global Polyisoprene Market Size to Exceed USD 3.76 Billion by 2033: Market Insight Report

Global Polyisoprene Market Size to Exceed USD 3.76 Billion by 2033                    

According to a research report published by Spherical Insights & Consulting, The Global Polyisoprene Market is Expected to Grow from USD 2.35 Billion in 2023 to USD 3.76 Billion by 2033, at a CAGR of 4.81% during the forecast period 2023-2033. 

Browse 210 Market Data Tables and 45 Figures Spread Through 190 Pages and In-Depth TOC On the Global Polyisoprene Market Size, Share, and COVID-19 Impact Analysis, By Application (Tires & Related Products, Latex, Footwear, Non-automotive Engineering, Belts & Hose, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033.

The market for isoprene-based synthetic and natural polymers is known as the polyisoprene market.  Numerous industries, including the automotive, footwear, medical, and industrial sectors, employ polyisoprene. Over the past few years, sustained growth in end-use applications like automotive, consumer goods, and healthcare has created a consistent demand for polypropylene. As natural rubber production is confronted with several challenges, including environmental issues and climate change, polyisoprene provides a good substitute. Throughout the forecast period, advancements in polyisoprene technology such as improved elasticity, durability, and heat resistance, should increase the range of applications for this material in various industries. Furthermore, rising sales of shoes worldwide because of population growth and increasing competition among producers is another significant opportunity for the expansion of the polyisoprene market. The use of this material delivers the required hardness, crystal clear transparency, mechanical strength, soft touch, and superior abrasion resistance to shoes compared to conventional thermoplastic elastomer (TPE) soles. However, the market for polyisoprene has encountered difficulties such as supply chain interruptions, changes in the cost of raw materials, and governmental restrictions.

The tires & related products segment held the largest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

Based on the application, the global polyisoprene market is divided into tires & related products, latex, footwear, non-automotive engineering, belts & hose, and others. Among these, the tires & related products segment held the largest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The growing worldwide production levels of vehicles and technological innovations in different components, such as tires, have been key drivers of segment growth. Polyisoprene is an important component in tire production because of its superior properties, which qualify it as a good material for the production of the tread compound.

North America is anticipated to hold the largest share of the global polyisoprene market over the forecast period.

North America is anticipated to hold the largest share of the global polyisoprene market over the forecast period. The rapid pace of innovation in large end-use sectors such as automotive, construction, and medicine has generated a strong market demand for this material. Polyisoprene is most commonly associated with its flexibility and eco-friendliness, further fueling its application scope in new markets for local producers.

Asia Pacific is estimated to grow at the fastest CAGR of the global polyisoprene market during the forecast period. The enhanced healthcare infrastructure in economies like India and China has brought to the forefront the demand for high-quality medical devices and components in clinics and hospitals. The demand for polyisoprene is anticipated to be fueled by its widespread application in the medical industry for the production of medical fluid transport tubing, surgical tubing, and other consumable items.

Company Profiling

Major vendors in the global polyisoprene market are KURARAY CO., LTD., JSR Corporation, Kent Elastomer Products, SIBUR Holding PJSC, Minnesota Rubber & Plastics, ZEON CORPORATION, The Goodyear Tire & Rubber Company, and others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs) 

Recent Development

• In April 2023, Kuraray Co., Ltd. (President: Hitoshi Kawahara; Headquarters: Chiyoda-ku, Tokyo) reports that the construction of a new plant for isoprene-related businesses is finished and will soon begin operations in phases.  Kuraray Innovative Chemicals (Thailand) Co., Ltd. (Headquarters: Bangkok, Thailand; President: Hiroshi Yamamoto) and Kuraray GC Advanced Materials Co., Ltd. (Headquarters: Bangkok, Thailand; President: Hiroshi Yamamoto) carried out the construction.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global polyisoprene market based on the below-mentioned segments: 

Global Polyisoprene Market, By Application

• Tires & Related Products
• Latex
• Footwear
• Non-automotive Engineering
• Belts & Hose
• Others

Global Polyisoprene Market, By Regional 

• North America 
  • US
  • Canada
  • Mexico
• Europe 
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific 
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America 
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa 
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa