Isoprene is a colorless liquid organic compound. Its molecules are usually extracted from Crude C5 mixtures like the C5 Diene Crude. It is used in production of synthetic rubbers known as polyisoprene rubber (IR). Polyisoprenes are extensively used in various rubber applications such as shoe soles, medical equipment, elastic films, baby bottle nipples, tires, toys, paints and coatings, and adhesives. Some other major applications of isoprene include styrene-isoprene styrene (SIS), specialty chemicals, and Isobutylene-isoprene rubber (IIR).
Polyisoprene Rubber (IR) Application Segment to Have Rapid Growth
Increased automobile production, particularly in developing regions such as Taiwan, China, Japan, and Indonesia is predicted to boost demand for polyisoprene from automotive industry. Increased foreign investments in these regions on account of easy availability of highly efficient, skilled, and cost-effective labor is also estimated to augment products demand over the next few years.
The IIR application segment is also predicted to have a steady growth as a result of oxidation resistance of isobutylene-isoprene rubber. In addition, its applications in a variety of products and as a substitute to natural rubber are also projected to propel demand for IIRs in near future.
Isoprene manufacturing companies focus on business and production expansions to gain maximum customers base. For example, Nizhnekamskneftekhim (NKNK), a Russian synthetic rubber manufacturer plans to double the production of isoprene rubber SKI from their current 270ktpa. The company also is also aiming at expanding production of halobutyl and butyl rubber to 220ktpa in future.
Market Overview
The global isoprene market would reach at USD 3.97 billion by 2025. It is poised to witness a CAGR of 7.5% over the forecast period, finds of a research report by Grand View Research, Inc. Increasing demand for isoprene on account of its excellent gum and hot tensile strength and resilience is expected to boost market growth over the forecast period (2018 to 2025).
The Goodyear Tire and Rubber Co.; Chevron Phillips Chemical LLC; LyondellBasell Industries N.V.; Shandong Yuhuang Chemical (Group) Co., Ltd.; and Exxon Mobil Corporation are some of the leading manufacturers in global market.
In-Depth Research Report On Isoprene Market :
https://www.grandviewresearch.com/industry-analysis/isoprene-market
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