The global isoprene market is expected to reach $3.97 billion by 2025, growing at a compound annual growth rate (CAGR) of 7.5%, according to a new report by Grand View Research, Inc.
Polymer grade isoprene is likely to witness significant revenue rise at a CAGR of 7.7% as a result of its properties including toughness, excellent hot tear strength, abrasion, high resilience, cold resistance, and tensile strength. Moreover, the product is obtained from the C5 diene crude product, which are quick to dispose and reuse due to an existing infrastructure in place.
Asia Pacific was reported as the dominant market and accounted for 28.7% of the overall volume share in 2016. Robust manufacturing base of automotive industry in China, Japan and India, along with increasing passenger vehicles sales, are anticipated to augment isoprene market growth in the near future.
For more information, visit www.grandviewresearch.com.