Isoprene is a common organic compound.In its pure form it is a colorless volatile liquid. Isoprene is produced by many plants, and its polymers are the main components of natural rubber.There is a growing demand for isoprene in tires, adhesives and industrial rubber activities, which is expected to be one of the major drivers of the market over the next seven years.
The global isoprene market accounted for USD 2.10billion in 2016 and is projected to grow at a CAGR of 7.5% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Major Market Drivers:
Growing demand for synthetic rubber in automotive sector
Rising footwear market
Increased demand for polyisoprene in medical sector
The global isoprene market is highly fragmented with the presence of a large number of players across different regions. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Major Market Competitors: Global Isoprene Market
Some of the major players in isoprene market includeRoyal Dutch Shell Plc., The Goodyear Tire and Rubber Company, SIBUR, LyondellBasell Industries Holdings B.V., Finetech Industries Ltd., Kuraray Co. Ltd., ZEON Corporation, Ningbo JinhaiChenguang Chemical Corporation, ExxonMobil Corporation, Shandong Yuhuang Chemical Co.,Ltd, Haihang Industry Co., Ltd., Fortrec Chemicals and Petroleum Pte Ltd., Braskem, Zibo LuhuaHongjin New Material Co., Ltd., Chevron Phillips Chemical Companyand many more.
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