Global Isoprene Market by Types, Applications, and Regions — Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026

Global Isoprene Market is valued to reach USD 2.4 Billion by 2021, growing at CAGR of 6.5% over the forecast period 2020–2026. Growing urbanization, rising demand for fuel efficiency and eco-friendly tires, increasing number of automobiles coupled with surge in demand for IR in tire industry are the factors stimulating the market growth.

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Isoprene is obtained by processing petroleum, and is a by-product of naphtha pyrolysis and coal tar. Isoprene rubber offers a wide range of properties such as flexibility, high viscosity, and high tensile strength.

Market Trends, Drivers, Restraints, and Opportunities:

The high cost of natural rubber is anticipated to propel the demand for isoprene in the automotive industry.
Increasing population across the world expected to increase the demand for automobiles. This, in turn, is likely to drive the demand for isoprene. Isoprene and its derivatives are used extensively in the manufacture of tires, conveyor belts, hoses and, tubes. Furthermore, the need for eco-friendly tires is fuelling the market.
Strict regulations on the rubber industry are likely to hamper the growth of the market.
Rising adoption of isoprene in the medical industry is a key factor propelling the market growth.