Isoprene or 2-methylbuta-1, 3-diene is a colorless volatile liquid that is produced by plants and is employed in the manufacture of various copolymers such as styrene, isobutylene, butadiene, and others. Isoprene monomer is widely used in the production of synthetic rubber called as polyisoprene. It is also used in the manufacturing of conveyer belt, sponge, electric wire and cable, medical and sports equipment, and others, which is expected to drive market growth.
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Market Dynamics
Increasing demand for natural and synthetic rubber, owing to increasing automotive industry is driving growth of isoprene monomer market. According to the Association of Natural Rubber Producing Countries (ANRPC), the world consumption of natural rubber is 5.822 million tones, which increased by 6.2% during the period of January 2018 to May 2018.
Also, with increasing demand for personal vehicles and extensive economic growth, the tire and tire components industry is expected to emerge as the largest end-use industry for natural rubber in 2017, thereby fueling growth of isoprene monomer market. According to the International Organization of Motor Vehicle Manufacturers (OICA), the motor vehicle production in Europe was 21.49 billion in 2016, which increased up to 22.16 billion in 2017.
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Market Trends
Among application, polyisoprene segment is expected to witness significant growth in the near future, owing to increasing demand for isoprene rubber in tire industry. According to People’s Government of Jilin Province, the growth rate of isoprene rubber was 3.1% during 2010-2015.
The adhesives and sealants end-use industry segment is expected to show significant growth in the global isoprene monomer market over the forecast period. This is attributed to surging demand for isoprene monomer in automobile and construction industry.
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