Isoprene Market Size was valued at USD 2.9 billion in 2022. The isoprene industry is projected to grow from USD 3.1 Billion in 2023 to USD 5.3 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.00% during the forecast period (2023 - 2032). Increased demand for polyisoprene rubber in the medical sector, as well as growth in the synthetic rubber industry, to enhance isoprene manufacture are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The growing demand for rubber is projected to drive the expansion of the isoprene market CAGR in the future. Rubber is a white, crumbly plastic substance that can be vulcanized and treated. Isoprene is an all-purpose industrial chemical that is used to create a variety of rubber products, including synthetic rubber, and synthetic rubber has numerous applications in a variety of industries.
According to the Malaysian Rubber Council, a Malaysia-based organisation under the Ministry of Plantation Industries and Commodities (MPIC), rubber exports and imports climbed by 9.6% and 11%, respectively, in 2021. As a result, the increased demand for rubber is propelling the isoprene market forward.
Additionally, polymer grade isoprene and chemical grade isoprene are the two primary products on the isoprene markets. The former was in higher demand of the two. Researchers anticipate that this trend will continue and that the polymer grade isoprene market will stay dominating in the near future. Tires, industrial rubber, and adhesives are the most common applications for isoprene. The qualities of polyisoprene, such as durability, wear resistance, resilience, and strength, make it a suitable natural rubber substitute for tire manufacture. With the continued expansion of the automotive industry, this segment is projected to be the primary end-user of isoprene in the coming years.
According to the Society of Indian Automobile Manufacturers (SIAM), approximately 3,792,356 passenger vehicles will be sold in India in 2022. The increasing purchasing of automobiles is predicted to increase demand for tires and industrial rubbers, greatly adding to the product isoprenemarket revenue.
The isoprene market segmentation, based on grade includes polymer grade and chemical grade. In 2022, the polymer grade category dominated the market with a revenue share of 62.0%. This is due to its applications being comparable to those of natural rubber. Polyisoprene is synthesized by combining numerous isoprene molecules, resulting in four isomers, the most important of which are cis- and trans-isoprene. The increased demand for the product as a result of its different qualities such as cold resistance, high resilience, and exceptional tensile strength is propelling the market for polymer-grade products. Isoprene is a clear, colorless liquid with a 99.3% concentration that is widely employed in a variety of sectors.
Figure1: Isoprene Market, by Grade, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The isoprene market segmentation, based on application, includes styrene isoprene styrene, isobutylene isoprene, polyisoprene, block co-polymer, and others. The polyisoprene sector has been the dominant market for isoprene, rising at a CAGR of 3.2%. Polyisoprene is primarily utilized in the production of tires and other rubber products. It has a lower non-polymer component content than natural rubber. Polyisoprene is utilized in rubber bands, footwear, cut thread, infant bottle nipples, hoses, and conveyor belts in addition to tires. Polyisoprene is widely utilized in the manufacture of medical devices such as surgical gloves, sample covers, and catheters.
The isoprene market segmentation, based on end-use industry, includes automotive, medical, construction, personal care, sports & leisure, and others. In 2022, the medical sector held the largest market share (31%). IR is used in the manufacture of allergy-free medical gloves, which are a great alternative to natural rubber gloves. The disadvantage of natural rubber gloves is that they include naturally occurring proteins that cause type 1 allergies. IR latex, on the other hand, is free of this risk due to the absence of these proteins. Aside from that, these gloves are extremely pure, consistent, strong, soft, and supple.
By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America dominates the isoprene market due to fast industrialization and emerging economies in this region, as well as increased demand for polyisoprene products.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: ISOPRENE MARKET SHARE BY REGION 2022 (%)Â 
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe’s isoprene market accounts for the second-largest market share due to the use of synthetic rubber in the construction, automotive, and medical industries. Further, the German isoprene market held the largest market share, and the UK isoprene market was the fastest-growing market in the European region
The Asia-Pacific Isoprene Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to increased automobile manufacture in the region. Moreover, China’s isoprene market held the largest market share, and the Indian isoprene market was the fastest-growing market in the Asia-Pacific region.
Leading market players are extensively investing in research and development in order to extend their product lines, which will help the isoprene market grow even further. Market participants are also engaging in a number of strategic initiatives to grow their worldwide presence, with significant market developments including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. To grow and thrive in a more competitive and increasing market environment, the isoprene industry must provide cost-effective products.
Manufacturing locally to reduce operational costs is one of the primary business strategies employed by manufacturers in the isoprene industry to serve clients and expand the market sector. In recent years, the isoprene market has provided some of the most significant benefits to medicine. Major players in the isoprene market, such as Chevron Phillips Chemical Company (US), The Goodyear Tire & Rubber Company (US), ZEON Corporation (Japan), and others, are seeking to raise market demand by investing in research and development operations.
Gevo, Inc. is a renewable chemicals and advanced biofuels firm based in unincorporated Douglas County, Colorado, in the Denver-Aurora metro area. Gevo works in the field of sustainability, pursuing a business strategy based on the concept of the "circular economy." Using a combination of biotechnology and traditional chemistry, the company creates bio-based alternatives to petroleum-based products. Gevo bases its sustainability measurement on the GREET model from Argonne National Laboratory, with the purpose of creating high-protein animal feed, corn-oil derivatives, and energy-dense liquid hydrocarbons. Gevo's major goal is to convert sustainably cultivated raw materials, notably No. 2 dent corn, into high-value protein and isobutanol, a primary building block for renewable hydrocarbons such as sustainable aviation fuel, renewable gasoline, and renewable diesel. In  January 2019, Gevo announced the discovery of a stimulant, development, and repair of a catalytic process that converts economically accessible or waste alcohol into sustainable isoprene. It is likely to compete on cost with natural and petroleum-based chemical counterparts while lowering CO2 emissions.
Kuraray Co., Ltd is a Japanese chemical, fiber, and material maker. Their major production facilities are in Kurashiki, Okayama. The company's administrative headquarters in Tokyo are in Otemachi, Chiyoda in the Ote Center Building, and its offices in Osaka are at the Umeda Hankyu Building). Kuraray was the sole producer of Vectran liquid crystal polymer (LCP) fiber as of June 2007. The company is a member of the Nikkei 225 stock market index and is listed in the first section of the Tokyo Stock Exchange. February 2023, Kuraray Co., Ltd. built a new factory for isoprene-related companies at the WHA Eastern Industrial Park within the petrochemical complex at Map Ta Phut, Rayong Province, Thailand. The new Thai plant will contribute to the continued growth of isoprene-related businesses by strengthening the supply system and meeting rising demand for 3-Methyl-1.5-Pentanediol (MPD), SEPTONTM hydrogenated styrenic block copolymers (HSBC), and GENESTAR heat-resistant polyamide-9T (PA9T), which were previously developed using proprietary Kuraray technology.
Braskem (Brazil)
Kuraray (Japan)
LyondellBasell Industries Holdings BV (Netherlands)
Shell (Netherlands)
SIBUR (Russia)
Chevron Phillips Chemical Company (US)
The Goodyear Tire & Rubber Company (US)
ZEON Corporation (Japan)
JSR Corporation (Japan)
China Petrochemical Corporation (China)
Dow (US)
Pon Pure Chemicals (India)
Zibo Luhua Hongin New Material Co. Ltd (China)
Exxon Mobil Corporation (US)
In July 2019, Zeon Corporation has developed innovative technology for the long-term and capable production of isoprene from biofuel, which is mostly used as a crude component of Polyisoprene rubber. The advancement of this technology will alleviate the predicted reliance on petroleum, resulting in environmental preservation.
In February 2022, Bridgestone Corporation collaborated with the National Institute of Advanced Industrial Science and Technology (AIST), Tohoku University, ENEOS Corporation, and JGC Holdings Corporation to develop chemical recycling technologies that use used tires to achieve high-yield isoprene production.
In  March 2022,  DL Chemical Co., Ltd., a South Korean petrochemical business, bought out Kraton Crop. Kraton was acquired by DL Chemical and now operates as a completely owned subsidiary of DL Chemical. It enables DL Chemical to gain further original technology through technological development and extend investment in order to construct a new materials industry ecosystem, and it assists both firms in achieving their aims of becoming leaders in specialty chemicals.
Polymer Grade and Chemical Grade)
Styrene Isoprene Styrene
Isobutylene Isoprene
Polyisoprene
Block Co-Polymer
Others
Automotive
Medical
Construction
Personal Care
Sports & Leisure
Others
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 2.9 billion |
| Market Size 2023 | USD 3.1 billion |
| Market Size 2032 | USD 5.3 billion |
| Compound Annual Growth Rate (CAGR) | 7.00% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2019- 2021 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Grade, Application, End-Use Industry, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Â Braskem (Brazil), Kuraray (Japan), LyondellBesell Industries Holdings BV (Netherlands), Shell (Netherlands), SIBUR (Russia), Chevron Phillips Chemical Company (US). The Goodyear Tire & Rubber Company (US), ZEON Corporation (Japan), JSR Corporation (Japan), China Petrochemical Corporation (China), Dow (US). Pon Pure Chemicals (India). |
| Key Market Opportunities | The geriatric population is growing. |
| Key Market Dynamics | It is used in the production of polyisoprene, which is then used to make synthetic rubber. |
Isoprene Industry Market Highlights:
Frequently Asked Questions (FAQ) :
The isoprene market size was valued at USD 2.9 Billion in 2022
The market is projected to grow at a CAGR of 7.00% during the forecast period, 2023-2032
North America had the largest share in the market
The key players in the market are Chevron Phillips Chemical Company (US). The Goodyear Tire & Rubber Company (US), ZEON Corporation (Japan)
The polymer grade isoprene category dominated the market in 2022
The medical had the largest share in the market
Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
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