Market Size of Isoprene Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Isoprene Market Analysis
The isoprene market is projected to register a CAGR of more than 5% during the forecast period.
- COVID-19 had a mixed market influence. The market demand for polyisoprene expanded dramatically as the need for healthcare ventilators increased. On the other hand, the market suffered a decline in demand from the tire industry due to lockdowns and travel restrictions. However, the market has picked up speed and will likely continue on this trajectory during the forecast period.
- The growing trends of electric mobility and autonomous driving are propelling the demand for innovative tire design and production, which tends to upsurge the growth of the isoprene market globally. However, strict control on synthetic chemicals used to make rubbers tends to increase the growth potential of substitute materials, which may limit the demand for isoprene in the next years.
- Isoprene's increasing application in a wide range of healthcare components is projected to present an opportunity for the market studied. The Asia-Pacific region is expected to dominate the market and is likely to witness the highest compound annual growth rate (CAGR) during the forecast period.
