Isoprene Global Market Report 2024

Description

Isoprene Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on isoprene market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for isoprene? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The isoprene market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Type: Polymer Grade; Chemical Grade
2) By Application: Polyisoprene (IR); Styrene-isoprene-styrene (SIS); Isobutylene-isoprene rubber (IIR); Other Applications
3) By End-Use: Tires; Non-tires; Adhesives; Other End-Uses
Companies Mentioned: Nizhnekamskneftekhim; SIBUR International GmbH; The Goodyear Tire & Rubber Company; Royal Dutch Shell PLC; Kuraray Co. Ltd.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Isoprene, a clear, volatile liquid hydrocarbon, is acquired through coal tar or petroleum processing. Its primary application lies in the production of synthetic rubbers, specifically butyl and other types of synthetic rubbers utilized across industries.

Isoprene exists primarily in two grades such as polymer grade and chemical grade. Polymer grade isoprene, derived from enhanced propane, maintains a purity level of 99%. Its primary applications encompass various rubber types like polyisoprene (IR), styrene-isoprene-styrene (SIS), and isobutylene-isoprene rubber (IIR), serving diverse end-uses such as tire manufacturing, non-tire applications, adhesives, and more.

The isoprene market research report is one of a series of new reports from The Business Research Company that provides isoprene market statistics, including isoprene industry global market size, regional shares, competitors with an isoprene market share, detailed isoprene market segments, market trends, and opportunities, and any further data you may need to thrive in the isoprene industry. This isoprene market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The isoprene market size has grown strongly in recent years. It will grow from $3.12 billion in 2023 to $3.38 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth observed in the historical period can be attributed to research and development initiatives, the expanding market for adhesives and sealants, increased manufacturing of consumer goods, the expansion of the chemical industry, and rising demand within the footwear sector.

The isoprene market size is expected to see strong growth in the next few years. It will grow to $4.64 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. Anticipated growth in the upcoming period is driven by stringent regulations emphasizing sustainability, advancements in bio-based isoprene production, increased construction activities, and a transition towards eco-friendly or 'green' tires. Key trends expected in this period encompass research and development focused on innovative applications, continual product innovations, a shift towards renewable materials, a heightened focus on specialty elastomers, and ongoing innovations within the tire industry.

Anticipated growth in the rubber industry is set to drive the isoprene market. Rubber, a malleable material, finds its base in isoprene, which is crucial for synthetic rubber production used across diverse industrial applications. Global trade statistics from 2021, as reported by the Malaysian Rubber Council, exhibit a 9.6% and 11% increase in global rubber exports and imports, respectively, compared to 2020. This surge in rubber demand substantiates the propulsion of the isoprene market.

The isoprene market is expected to be fueled by a surge in disposable income. Heightened disposable income, especially in emerging economies, prompts increased consumer expenditure, notably on automobiles and associated goods. With a rise in disposable income, households tend to invest more in vehicles, subsequently driving the demand for high-quality tires. A report from the UK-based Office of National Statistics indicates a steady 0.7% annual increase in median household disposable income between 2020 and 2022. This trend underlines the driving force behind the isoprene market's expansion.

Sustainable isoprene production emerges as a pivotal trend within the isoprene market. Leading industry players focus on innovative technologies to solidify their positions. An example is Bridgestone Corporation's collaboration with the National Institute of Advanced Industrial Science and Technology (AIST), Tohoku University, ENEOS Corporation, and JGC Holdings Corporation in February 2022. Their initiative aims to develop a sustainable method for high-yield isoprene production using chemical recycling technology, specifically employing used tires. This venture seeks to achieve carbon-neutral isoprene production, contributing to a more environmentally sustainable society.

Strategic partnerships are instrumental in fortifying market positions within the isoprene industry. An example is the collaboration between the Goodyear Tire & Rubber Company and Visolis Inc. in October 2023. This partnership intends to produce isoprene by upcycling biobased materials, utilizing Visolis Inc.'s technology to create high-quality isoprene from non-edible biomass and agricultural materials. Visolis Inc., a US-based bioengineering company specializing in sustainable chemicals, aligns with Goodyear's vision for sustainable isoprene production.

In March 2022, DL Chemical Co., Ltd., a South Korea-based petrochemical company, completed the acquisition of a full stake in Kraton Corporation for $2.5 billion. Following the acquisition, Kraton became a fully owned subsidiary of DL Chemical. This move enables DL Chemical to enhance its proprietary technology base by incorporating Kraton's technological advancements. It also facilitates increased investment aimed at establishing a new materials industry ecosystem. The collaboration between both entities is aligned with their shared objective of becoming global leaders in specialty chemicals. Kraton, a US-based company, specializes in the manufacturing of bio-based chemicals and specialty polymers within the isoprene market.

Major companies operating in the isoprene market report are Nizhnekamskneftekhim, SIBUR International GmbH, The Goodyear Tire & Rubber Company, Royal Dutch Shell PLC, Kuraray Co. Ltd., ZEON Corporation, LyondellBasell Industries N.V., JSR Corporation, Braskem S.A, Finetech Industry Ltd., Fortrec Chemicals & Petroleum Pte Ltd., Haihang Industry Co. Ltd., China Petrochemical Corporation, Dow Inc., Pon Pure Chemicals Group, ExxonMobil Corporation, Shandong Yuhuang Chemical Group Co. Ltd., Sinopec Corp., Chevron Phillips Chemical Company LLC, LOTTE Chemical Corporation, Kraton Corporation, Jilin Zhongxin Chemical Group Co. Ltd., Nanjing Chemical Material Corporation, TPC Group Inc., Formosa Plastics Corporation, INEOS Group Holdings S.A., LG Chem Ltd., Repsol S.A., Evonik Industries AG, Zibo Qixiang Petrochemical Industry Group Co. Ltd.

Asia-Pacific was the largest region in the isoprene market share in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the isoprene market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the isoprene market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The isoprene market consists of sales of natural polymers, semi-synthetic polymers, synthetic polymers, cross-linked polymers, linear polymers, and other types. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r12830

1. Executive Summary

2. Isoprene Market Characteristics

3. Isoprene Market Trends And Strategies

4. Isoprene Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Isoprene Market Size and Growth

5.1. Global Isoprene Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Isoprene Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Isoprene Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Isoprene Market Segmentation

6.1. Global Isoprene Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Polymer Grade
Chemical Grade
6.2. Global Isoprene Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Polyisoprene (IR)
Styrene-isoprene-styrene (SIS)
Isobutylene-isoprene rubber (IIR)
Other Applications
6.3. Global Isoprene Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Tires
Non-tires
Adhesives
Other End-Uses

7. Isoprene Market Regional And Country Analysis

7.1. Global Isoprene Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Isoprene Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Isoprene Market

8.1. Asia-Pacific Isoprene Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Isoprene Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Isoprene Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Isoprene Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Isoprene Market

9.1. China Isoprene Market Overview
9.2. China Isoprene Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Isoprene Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Isoprene Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Isoprene Market

10.1. India Isoprene Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Isoprene Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Isoprene Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Isoprene Market

11.1. Japan Isoprene Market Overview
11.2. Japan Isoprene Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Isoprene Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Isoprene Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Isoprene Market

12.1. Australia Isoprene Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Isoprene Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Isoprene Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Isoprene Market

13.1. Indonesia Isoprene Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Isoprene Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Isoprene Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Isoprene Market

14.1. South Korea Isoprene Market Overview
14.2. South Korea Isoprene Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Isoprene Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Isoprene Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Isoprene Market

15.1. Western Europe Isoprene Market Overview
15.2. Western Europe Isoprene Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Isoprene Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Isoprene Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Isoprene Market

16.1. UK Isoprene Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Isoprene Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Isoprene Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Isoprene Market

17.1. Germany Isoprene Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Isoprene Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Isoprene Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Isoprene Market

18.1. France Isoprene Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Isoprene Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Isoprene Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Isoprene Market

19.1. Italy Isoprene Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Isoprene Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Isoprene Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Isoprene Market

20.1. Spain Isoprene Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Isoprene Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Isoprene Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Isoprene Market

21.1. Eastern Europe Isoprene Market Overview
21.2. Eastern Europe Isoprene Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Isoprene Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Isoprene Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Isoprene Market

22.1. Russia Isoprene Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Isoprene Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Isoprene Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Isoprene Market

23.1. North America Isoprene Market Overview
23.2. North America Isoprene Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Isoprene Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Isoprene Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Isoprene Market

24.1. USA Isoprene Market Overview
24.2. USA Isoprene Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Isoprene Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Isoprene Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Isoprene Market

25.1. Canada Isoprene Market Overview
25.2. Canada Isoprene Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Isoprene Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Isoprene Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Isoprene Market

26.1. South America Isoprene Market Overview
26.2. South America Isoprene Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Isoprene Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Isoprene Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Isoprene Market

27.1. Brazil Isoprene Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Isoprene Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Isoprene Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Isoprene Market

28.1. Middle East Isoprene Market Overview
28.2. Middle East Isoprene Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Isoprene Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Isoprene Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Isoprene Market

29.1. Africa Isoprene Market Overview
29.2. Africa Isoprene Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Isoprene Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Isoprene Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Isoprene Market Competitive Landscape And Company Profiles

30.1. Isoprene Market Competitive Landscape
30.2. Isoprene Market Company Profiles
- 30.2.1. Nizhnekamskneftekhim
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. SIBUR International GmbH
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. The Goodyear Tire & Rubber Company
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Royal Dutch Shell Plc
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Kuraray Co. Ltd.
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Isoprene Market Competitive Benchmarking

32. Global Isoprene Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Isoprene Market

34. Isoprene Market Future Outlook and Potential Analysis

34.1 Isoprene Market In 2028 - Countries Offering Most New Opportunities
34.2 Isoprene Market In 2028 - Segments Offering Most New Opportunities
34.3 Isoprene Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer