Global Polyisoprene Market to reach USD 2.85 million by 2027.
Global Polyisoprene Market is valued approximately at USD 2.15 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 4.1% over the forecast period 2021-2027. Polyisoprene is used in rubber, footwear, automotive, sponges, and sporting goods and include medical/health applications and sealants and adhesives. The global Polyisoprene market is being driven by growing demand of polyisoprene in medical sector and rising footwear market. Furthermore, the growing use of Polyisoprenes in newer automotive production and industrial use and rising usage of polyisoprene in surgical gloves, will provide new opportunities for the global Polyisoprene industry. For instance, according to Indian Brand Equity Foundation, automobile exports in India stood at 1,419,430 units between April 2021 to June 2021 in comparison with 436,500 units in April 2020 to June 2020. As a result, increased automation will necessitate the use of more polyisoprene in the manufacturing of different automobile parts, which will serve as a catalyst for the Polyisoprene industry in the future. However unstable raw material prices may impede market growth over the forecast period of 2021-2027.
Asia Pacific, North America, Europe, Latin America, and Rest of the World are the key region considered for the regional analysis of global polyisoprene market. Presence of well-established automotive and oil & gas sectors in the region makes Europe the leading region across the world in terms of market share. Whereas Asia Pacific is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to increasing vehicle production in various region.
Major market player included in this report are:
The Goodyear Tire & Rubber Company
KURARAY CO., LTD.
Asahi Kasei Corporation
Preferred Compounding Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Tires & Related Products
Belts & Hose
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of the Global Polyisoprene Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers