The isoprene market was valued at $1.93 billion in 2015, and is projected to reach $2.96 billion by 2021, at a compound annual growth rate (CAGR) of 7.4%, during 2016 to 2021, according to the report "Isoprene Market by Type (polymer grade, chemical grade), Application (polyisoprene, styrene isoprene styrene, isobutyl isoprene rubber), End-Use Industry (tires, non-tires, adhesives), and Region - Global Forecast to 2021," published by MarketsandMarkets™.
Polymer grade isoprene is used often for polyisoprene application. Polyisoprene has similar properties like natural rubber, such as toughness, abrasion and cold resistance, high tensile strength, high resilience, and good hot tear strength. These make it suitable for tire manufacturing. Polymer-grade isoprene is also used in industries such as medical, pharmaceutical packaging, and automotive and is estimated to be the leading isoprene type in the market due to its growing use in diversified industries.
Polyisoprene application allegedly accounted for the largest share of the isoprene market, followed by styrene isoprene styrene. Isoprene is primarily used to make polymeric materials, and it is used to produce polyisoprene, which is produced by polymerizing isoprene monomer. In addition, it is used to produce styrene isoprene styrene (SIS), isobutylene-isoprene rubber (IIR), and other specialty chemicals.
Europe is estimated to be the leading market for isoprene with Russia projected to be the fastest-growing market for isoprene during the forecast period. Germany, France, and the UK are other areas contributing to the growth of isoprene market in this region. The increasing demand for isoprene from the end-user industries such as tires, non-tires, adhesives, and others is expected to drive the growth of the isoprene market in these countries.
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