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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