Future Market Insights
With the recent shift in demand for isoprene monomer over natural rubber, it is anticipated that the market for isoprene monomer will experience substantial growth in the near future. The main component of rubber is the colorless volatile isoprene monomer, which is produced from various plants, such as oak, poplar, eucalyptus, and others. Isopropene monomer is used as a raw material to manufacture synthetic rubber. It is also used with other unsaturated compounds to manufacture polymer materials. It is anticipated that the increasing rate of industrialization in fields, such as pharmaceutical, medical, packaging, and automobile will lead to significant growth of the isoprene monomer market over the forecast period. A relatively high rate of application is observed in the manufacture of polyisoprene rubber, butyl rubber, and styrene thermoplastic elastomer block copolymer by using isoprene monomer in its purest state of about 90% to 93%. The isoprene monomer market is also expected to witness sturdy growth with an increase in the production of tyres as the consumption of isoprene monomer in the manufacturing of rubber is observed at a large scale around the world. Along with rising demand from said factors, the isoprene monomer market is expected to gain slight opportunities in the manufacturing of specialty chemical products including flavoring, perfumes, vitamins, epoxy hardeners and pharmaceutical products.
The isoprene monomer market is estimated to gain massive attention in the automobile sector, which is expected to hold remarkable prospects over the forecast period, owing to the use of this monomer in the manufacturing of rubber. Adding to this, the isoprene monomer market is also expected to witness noteworthy monetary gain from the manufacture of chemical and pharmaceutical products over the forecast period.
Isoprene Monomer Market: Drivers and Restraints
The production rate of isoprene monomer is expected to increase further with the adoption of innovative technology to produce isoprene monomer with increased micro-organisms that offer fermenting capabilities. This, consequently, has led to an increase in the yield of isoprene monomer, owing to its extended use in the form of bio-based isoprene monomer, which in turn is used for a varied range of industrial end-uses, such as mechanical instruments, medical apparatus, footwear, and rubber tyres. It is expected that the isoprene monomer market will witness substantial growth with increasing use in the manufacture of extruded hoses, rubber bands, pipe gaskets, baby bottle nipples, shock absorbing bushings, etc. Thus, the rising demand for rubber products in various sectors is expected to drive the isoprene monomer market over the forecast period. By considering all the above mentioned dynamics, substantial prospects are expected to arise for the isoprene monomer market in a varied range of fields over the forecast period.
However, being an extremely flammable product, manpower working with the production of isoprene monomer may suffer from health related problems, such as skin and respiratory tract irritation. The production of isoprene monomer from petroleum feedstock may arise other problems, such as flash fire. Fluctuation in the demand and prices of oil is another concern with this production method. Such factors may affect the productivity of the isoprene monomer market over the forecast period.
Isoprene Monomer Market: Segmentation
The isoprene monomer market can be segmented on the basis of application:
The isoprene monomer market can be segmented on the basis of product grade:
Isoprene Monomer Market: Region-Wise Outlook
Based on geography, the isoprene monomer market is estimated to witness high demand from European nations over the forecast period. Being a hub for the automobile sector, the increasing demand for isoprene monomer in the production of tyres and other adhesive products has led to the domination of this region in the isoprene monomer market. Russia is recognized as a prominent region for the manufacture of isoprene monomer, and hence, the region is expected to hold a significant market share in the global market over the forecast period. Asia Pacific and Latin America, with noticeable concentration of rubber industries, are expected to gain substantial opportunities in this market over the forecast period. The U.S., being an outsized consumer of isoprene monomer is expected to hold productive prospects for the market in the near future.
Isoprene Monomer Market: Market Participants
Examples of some of the market players in the isoprene monomer market are mentioned below:
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