Isoprene Market to Grow 7%
The isoprene market is projected to reach $2.96 billion by 2021.
The isoprene market is projected to reach $2.96 billion by 2021, at a compound annual growth rate (CAGR) of 7.4% from 2016 to 2021. Allegedly, there has been a growing demand of isoprene from end-use industries, such as tires, non-tires, adhesives, and other industries. The growing tire and rubber industries are suggested to be driving the isoprene market. The market is reportedly dominated by Russian manufacturers that are focused on expanding their production capacities.
The polyisoprene is estimated to be the fastest-growing segment of the isoprene market during the forecast period. A major driver of polyisoprene application is also reported to be the growing tire and automotive industries globally. Also, polyisoprene is becoming a substitute for natural rubber in the medical sector, as it can provide flexibility and high tensile strength similar to natural rubber, and doesn't trigger an allergic reaction.
Europe is estimated to be the leading market for isoprene, and Russia is estimated to be the largest market for isoprene and is projected to be the fastest-growing market for isoprene in this region during the forecast period. Germany, France, and the UK are other countries allegedly contributing to the growth of the isoprene market in this region. The increasing demand for isoprene from the end-use industries such as tires, non-tires, adhesives, and others is expected to drive the growth of the isoprene market in these countries.
For more information, visit www.reportlinker.com.