Isoprene Market – Growth, Trends, and Forecast (2019 – 2024)

The Market is Segmented by Application (Tires, Healthcare, Apparel and Footwear, and Other Applications) and Geography.

Market Snapshot

Isoprene Market - Market summary
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

Key Players:

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Market Overview

The market for isoprene is expected to register a CAGR of 5.14%, during the forecast period (2019-2024). One of the major drivers of the market studied is the increasing demand from the automotive industry in Asia-Pacific.

  • The tires segment dominated the market in 2018. It is expected to grow further, during the forecast period. This is primarily due to the rising production of various automobiles, globally.
  • Decreasing demand for natural rubber is likely to act as an opportunity for the market studied, in the future.
  • Asia-Pacific dominated the global market, with the largest consumption recorded from countries, such as China and India.

Scope of the Report

The scope of the isoprene market report includes:

By Application
Tires
Healthcare
Apparel and Footwear
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Increasing Demand for Tires

  • Isoprene is widely used in the manufacturing of tires, owing to its properties, such as flexibility, tensile strength, tear strength, etc.
  • Globally, the demand for tires is increasing. In 2014, the demand for tires was about 2.84 billion units. In 2018, the demand was about 3.66 billion units, an increase of 6.55% between 2014-2018.
  • Globally, the revenue of the tire and rubber industry is around USD 18 billion, primarily from industries, such as aerospace, automotive, etc.
  • Tire and rubber manufacturing companies are increasing globally. The tire production companies increased around 111 businesses and 4,300 businesses, in the United States and Europe, respectively.
  • Companies, such as Bridgestone (Japan), Michelin (France), Goodyear (US), Continental (Germany), and Sumitomo Rubber Industries (Japan) are the major producers of tires in the world.
  • This scenario is expected to boost the demand for the market studied.
Isoprene Market - Segmentation

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Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region dominated the global market share, in 2018. Globally, the demand for tires was valued at around 1,624 million units, in 2018.
  • Asia-Pacific is the largest manufacturer of tires. The exports of tires from Asia, in 2017, were around USD 33.9 billion, about 45% of the exported tire sales globally. This was followed by Europe and North America, holding shares of about 41% and 10% of the exported tire sales, respectively.
  • In the Asia-Pacific region, India is one of the largest producers of the automotive industry, including cars and commercial vehicles. The total vehicles produced in India, in 2018, were about 5,174,645 units, recording an increase in production from the previous year. 
  • China is the leading producer of the automotive industry. The total vehicles produced in the country were about 27,809,196 units, in 2018.
  • The aforementioned factors are likely to drive the market over the forecast period. 
Isoprene Market - Regional Trend

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Competitive Landscape

The isoprene market is partially consolidated in nature. The major companies include Chevron Phillips Chemical Company, China Petrochemical Corporation, DowDuPont, KURARAY CO. LTD, etc.

Major Players

  1. Chevron Phillips Chemical Company
  2. KURARAY CO
  3. DowDuPont
  4. China Petrochemical Corporation
  5. LOTTE Chemical Corporation

* Complete list of players covered available in the table of contents below

Isoprene Market - Market Concentration

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Surging Demand from Automotive Industry

    2. 4.2 Restraints

      1. 4.2.1 Substitution of Alternative Chemicals

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porters Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Application

      1. 5.1.1 Tires

      2. 5.1.2 Healthcare

      3. 5.1.3 Apparel and Footwear

      4. 5.1.4 Other Applications

    2. 5.2 Geography

      1. 5.2.1 Asia-Pacific

        1. 5.2.1.1 China

        2. 5.2.1.2 India

        3. 5.2.1.3 Japan

        4. 5.2.1.4 South Korea

        5. 5.2.1.5 Rest of Asia-Pacific

      2. 5.2.2 North America

        1. 5.2.2.1 United States

        2. 5.2.2.2 Canada

        3. 5.2.2.3 Mexico

      3. 5.2.3 Europe

        1. 5.2.3.1 Germany

        2. 5.2.3.2 United Kingdom

        3. 5.2.3.3 Italy

        4. 5.2.3.4 France

        5. 5.2.3.5 Rest of Europe

      4. 5.2.4 South America

        1. 5.2.4.1 Brazil

        2. 5.2.4.2 Argentina

        3. 5.2.4.3 Rest of South America

      5. 5.2.5 Middle East & Africa

        1. 5.2.5.1 Saudi Arabia

        2. 5.2.5.2 South Africa

        3. 5.2.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Chevron Phillips Chemical Company

      2. 6.4.2 China Petrochemical Corporation

      3. 6.4.3 DowDuPont

      4. 6.4.4 LyondellBasell Industries

      5. 6.4.5 JSR Corporation

      6. 6.4.6 KURARAY CO. LTD

      7. 6.4.7 Pon Pure Chemicals

      8. 6.4.8 Royal Dutch Shell PLC

      9. 6.4.9 Zibo Luhua Hongjin New Material Co. Ltd

      10. 6.4.10 LOTTE Chemical Corporation

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Gradually Decreasing Demand for Natural Rubber

**Subject to Availability

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