A marked presence of several large-scale producers
and big chemical companies make the global isoprene market intensely
competitive, finds Transparency Market Research (TMR). These players
are based in various developing and developed nations, majorly in
Russia, China, Japan, Netherlands, and the U.S. Leading companies
enjoying a stronghold in the global market include Ajinomoto Co.
Inc., Bridgestone Corporation, GlycosBio, DuPont, Braskem, Petroleum
Pte Ltd., Fortrec Chemicals And Petroleum Pte Ltd., and
Nizhnekamskneftekhim. Some other players exhibiting a prominent
presence in the market include Finetech Industry Ltd., SIBUR,
Shandong Yuhuang Chemical Group Co. Ltd., Ningbo Jinhai Chenguang,
Haihang Industry Co. Ltd., JSR Corporation, LyondellBasell Industries
N.V., ZEON Corporation, Kuraray Co. Ltd., Royal Dutch Shell Plc, and
The Goodyear Tire & Rubber Company.
View Report Preview:
Top players are actively pursuing product
differentiation strategy to remain at the forefront. To this end,
several prominent ones are also engaging in strategic collaborations.
In addition, a number of producers and manufacturers are focusing on
backward integration in a move to stay ahead of their competitors,
observes TMR. They are also strengthening their distribution channels
to consolidate their shares in the coming years. Several big players
are striving for adopting advanced production technologies in order
to showcase their might in the global landscape. The influx of new
entrants is likely to up the level of competition over the years.
The global isoprene market is projected to rise at
a healthy clip over the forecast period from 2017 to 2022. A
substantial chunk of global demand for isoprene is projected to come
from the automotive industry.
Broadly, the key product types of isoprene
comprise polymer grades and chemical grades. Of these, the polymer
grade segment leads accounting for the major share in 2017 and is
anticipated to hold 55.0% share of the global isoprene demand by 2022
end. The segment is projected to touch a valuation of US$1,477.4
million by the end of the assessment period.
Regionally, the North America is expected to
collect the leading revenue by being the most lucrative market. The
opportunities in the regional market is expected to touch a valuation
of US$761.5 million by 2022 end. Meanwhile, Asia Pacific is projected
to rise at an attractive pace, garnering a CAGR of 5.1% during
2017–2022. The region accounts for an extensive demand for isoprene
coming from the automotive industry, primarily in China and India.
Widespread Applications in Making Tires and
Industrial Rubber Boost Market
The global isoprene market is driven primarily by
the burgeoning end-use applications in making tires, adhesives, and
industrial rubber. The widespread use of isoprene in making synthetic
rubber is attributed to a wide variety of performance
characteristics, such remarkable flexibility similar to natural
rubber, strength without odor, and the ability to confer outstanding
durability to the end products. On account of these attractive
properties, isoprene finds substantial use in making various
automotive parts apart from tires, such as fuel hose, engine
mounting, mud flap, suspension bush, exhaust rubber hangers, and
floor mats. This is accentuating the market. The rapid strides being
experienced by the automotive industry in several emerging economies,
notably in Asia Pacific, is a noteworthy trend providing a robust
thrust to the growth of the global isoprene market. The swift pace
of urbanization in developing regions is likely to bolster the demand
for SUVs and sedans among upwardly mobile populations, thereby
catalyzing the demand for isoprene in several end-use applications.
Thriving Automotive Industry in Emerging
Economies to Create Vast Lucrative Avenues
Apart from a wide range of rubber-based
applications, the global isoprene market is also benefiting copiously
from its use in making medical equipment and footwear.
However, several stringent regulations imposed on
the rubber industry in favor of the use of natural rubber, which is
likely to stifle the demand for isoprene. The fluctuation in the
prices of raw materials used for isoprene production, especially
crude oil prices, is a crucial factor hindering the growth of the
market to an extent. Nevertheless, the market are expected to get a
robust push from a burgeoning automotive industry and the growing
popularity of low-rolling resistance tires in various parts of the
world. Advancements in production technologies bode well for the
market over the forecast period.
Request to view Sample Report:
The study presented here is based on a report by
Transparency Market Research (TMR) titled “Isoprene Market (Product
- Polymer Grade and Chemical Grade; End Use - Tires, Adhesives, and
Industrial Rubber; Application - Polyisoprene, Styrene-isoprene
Styrene, Isobutylene-isoprene Rubber, and Specialty Chemicals
Isoprene) - Global Industry Analysis, Size, Share, Growth, Trends and
Forecast 2017 - 2022.”
No comments:
Post a Comment