H1 2023: During H1 2023, PJSC Nizhnekamskneftekhim, LLC Tolyattikauchuk, Qingdao Yikesi New Material Co., Ltd., and Goodyear Tire and Rubber Company were the major producers of Isoprene Rubber on a global scale. In the Asia Pacific region, the prices of Isoprene Rubber fluctuated in H1 2023. Prices of isoprene rubber in this region soared during the first three months of 2023 due to high demand by the downstream automotive industry. In January 2023, the automotive industry experienced a surge that led to an increase in isoprene rubber purchases. The automotive sector's growth started sluggishly as it attempted to recover from its losses from the previous year, but a surge was observed in February as the industry's industrial production and revenue sharply increased in the Asia Pacific region. However, in March 2023, the automotive industry's growth pace slowed down. In April 2023m prices for isoprene rubber fell sharply in Asia but then exponentially rose in May- June 2023. Isoprene Rubber's increased supply and manufacturing led to a buildup of excess inventory, which led to an overstock in the market led to a fall in price in April 2023. However, May and June saw price hikes because of the robust demand from the downstream automotive industry in the Asian nations. Due to shifting dynamics of supply and demand, the isoprene rubber market displayed mixed trends in the US market in H1 2023. Isoprene Rubber prices increased in February 2023 and then fell in March 2023. Due to the economic turmoil caused by the fall of two significant US banks, as the negative consequences of the recession, the automotive sector consumed less isoprene rubber, which resulted in the downfall of the isoprene rubber prices in the US.
H1 2022: During H1 2022, the total production of Isoprene Rubber had reached roughly 340 thousand tonnes with PJSC Nizhnekamskneftekhim, LLC Tolyattikauchuk, and Qingdao Yikesi New Material Co., Ltd. being the key producers of Isoprene Rubber. In H1 2022, PJSC Nizhnekamskneftekhim solely produced approximately 30% of the net Isoprene Rubber. Nizhnekamskneftekhim runs high-efficiency generation sites that make state-of-the-art materials. This organization is one of Sibur’s largest production sites in Russia which is popular for producing synthetic rubbers and plastics. It counts in the top leading producers of rubbers and other petrochemical products. In H1 2022, Russia ranked as the key exporters of Isoprene Rubber which catered Isoprene rubber to numerous nations like China and other Asian nations such as India. Based on region, Asia Pacific was leading in terms of consuming isoprene rubber during H1 2022. The majority of the demand occurred from the automotive sector of the Asia’s developing nations like India and China.
H2 2022: During H2 2022, the total production of Isoprene Rubber had reached roughly 360 thousand tonnes across the globe, which was slightly higher than H1 2022. Isoprene Rubber prices within the Asia-Pacific region faced a downward scenario except July 2022 when the prices rose across Asia Pacific region. But soon, the prices fell due to weak demand in the downstream tire & adhesive industries across Asia. The demand for isoprene rubber declined as these industries struggled in terms of production and sales. As a result, the Asian market faced an oversupply, resulting in overstocking across the region and ultimately increased material availability in the market and decreasing its value. The demand from the downstream sectors was significantly low leading to lower prices during September 2022. However, the prices continued to fall during the remaining months of H2 2022. Isoprene rubber prices in the North American market fluctuated in H2 2022 due to flux between supply and demand. Isoprene rubber prices surged in July 2022, then fell in August 2022, and then rose again in September 2022 in North America. Reasons like rising industrial production rates, oversupply and overstocking of Isoprene Rubber were the causes of the decline in isoprene rubber prices in August 2022. This trend was strongly supported by the weak demand from the tire and adhesives industries. However, Isoprene rubber prices surged in North America in September 2022 due to supply problems, heavy demand, and supply chain disruptions across the region.
The global Isoprene Rubber market has expanded remarkably to reach approximately 700 thousand tonnes in 2022 and is expected to grow at a CAGR of 5.24% during the forecast period until 2032.
Isoprene Rubber is a synthetic elastomer that is obtained by polymerization of synthetic isoprene, which is sourced from the thermal cracking of the naphtha fraction of petroleum. After this, polymerization is conducted in solution, using anionic and Ziegler-Natta catalysts. Isoprene rubber is a useful material for many technical applications due to its exceptional mechanical qualities and low price. Automobile tires, springs, bearings, drive connectors, anti-vibration mounts, and adhesives are a few examples of common applications. The primary driver of the Isoprene Rubber global market is accounted by the Automotive sector. With rapid urbanization, the demand for light vehicles for the transportation of goods along with personal vehicles is anticipated to propel the isoprene rubber market. The global demand for medical gloves in the medical field will most likely expand due to the rising prevalence of chronic and non-chronic diseases, as well as the improvements in medical care, and is anticipated to augment the market expansion. Owing to these factors, the Isoprene Rubber market is expected to reach 1200 thousand tonnes in 2032.
Regionally, the Asia Pacific region is dominating the isoprene rubber market. This region held a market share of approximately 40% in 2022 followed by Europe. Growing healthcare facilities and the opening up of new clinics coupled with the rapidly growing population in developing countries like India, Japan, and China are imposing a higher demand for latex material products like gloves, which is anticipated to propel the isoprene rubber market furthermore. Based on production, Russia is dominating the isoprene rubber market followed by the Asia Pacific region with China being the key player.
Based on the end-user industry, the global Isoprene Rubber market is segmented into Automotive, Latex Products, Industrial, and Others. Among these, the Automotive sector is dominating the Isoprene Rubber market. Because of its high tensile strength, isoprene rubber is used to make tyres, springs, elastic bands, and conveyor belts along with other latex products like balloons and gloves.
Major players in the production of Global Isoprene Rubber are PJSC Nizhnekamskneftekhim, LLC Tolyattikauchuk, Qingdao Yikesi New Material Co., Ltd., Jilin Xingyun Chemical Co., Ltd., Zibo Luhua Hong Jin New Material Co.,Ltd., Goodyear Tire and Rubber Company, B.F Good Rich, Kraton JSR Elastomers K.K, ZEON CORPORATION, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Isoprene Rubber which covers production, demand and supply of Isoprene Rubber market in the globe.
• To analyse and forecast the market size of Isoprene Rubber
• To classify and forecast Global Isoprene Rubber market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Isoprene Rubber market in the globe.
To extract data for Global Isoprene Rubber market, primary research surveys were conducted with Isoprene Rubber manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Isoprene Rubber market over the coming years.
ChemAnalyst calculated Isoprene Rubber demand in the globe by analyzing the historical data and demand forecast which was carried out considering the raw materials to produce Isoprene Rubber. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Isoprene Rubber manufacturers and other stakeholders
• Organizations, forums and alliances related to Isoprene Rubber s distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Isoprene Rubber s manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Isoprene Rubber s market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
700 thousand tonnes
Market size Volume by 2032
1200 thousand tonnes
Growth Rate
CAGR of 5.24% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity By Company, Capacity by Location, Operating Efficiency. Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade, Manufacturing Process, Policy and Regulatory Landscape,
Segments covered
By End-Use: (Automotive, Latex Products, Industrial, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Mr.Shin Dosho
Member - Board of Directors
Osaka Gas Co. Ltd
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Which region is leading as a consumer of the global Isoprene Rubber market?
Ans:
Asia Pacific is the largest consumer of the global Isoprene Rubber market.
Q2.
Which end-use industry is dominating the Global Isoprene Rubber market?
Ans:
The Automotive industry is dominating the Isoprene Rubber market with a market share of about 50% in 2022.
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