Polyisoprene Market

Polyisoprene Market Research, 2031

The global polyisoprene market was valued at $21.5 billion in 2021, and is projected to reach $36.4 billion by 2031, growing at a CAGR of 5.52% from 2022 to 2031.

The COVID-19 lockdown measures enforced by various governments globally had led to temporary disruptions in the automotive industry, thus negatively impacting the market. The COVID 19 crisis has increased the supply-demand gap, hampering the global polyisoprene supply chain.

Polyisoprene are natural polymers composed of isoprene monomers that can be classified as cis or trans. Polyisoprene refers to a group of polymers that are made by polymerizing isoprene. It is commonly used to refer to synthetic cis-1, 4-polyisoprene, made by the industrial polymerization of isoprene. Its 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, 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 growth in demand for elastomers in the automotive, industrial, footwear, and medical industry are expected to drive the demand for polyisoprene. Rise in usage of polyisoprene in surgical gloves is expected to boost the growth of polyisoprene market.

The polyisoprene market is segmented on the basis of type, application, and region. On the basis of type, the market is classified into natural and synthetic. On the basis of application, the market is classified into tires & related products, belt & hose, latex, footwear, non-automotive engineering, and others. On the basis of region, the market is classified into North America, Europe, Asia Pacific, and LAMEA.

The global Polyisoprene market analysis covers in-depth information about the major industry participants. The key players operating and profiled in the report include Shell, Exxon Mobil Corporation, Haihang Industry Co., Ltd., Kent elastomer products, Kuraray Co., Ltd., SIBUR, The Goodyear Tire & Rubber Company, and Dupont.

By type, the natural rubber segment dominated the global polyisoprene market in 2021, and the synthetic rubber segment is projected to be the fastest-growing segment during the forecast period.

By application, the tire and related product segment accounted for around 44.2% of the global Polyisoprene market share in 2020. High demand for polyisoprene from automotive industry for manufacturing of tires is anticipated to drive the market growth during the forecast period.

By region, Europe is projected to be the fastest growing market. Europe is expected to have significant market growth due to the presence of well-established automotive sector in the region.

IMPACT OF COVID-19 ON THE 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.
• Owing 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.
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• Companies were not earning any profit as a result of the work stoppage and not only the companies lost the money however 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 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 hampering 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.

 Polyisoprene Market Report Highlights