Increasing demand for natural and synthetic rubber, owing to increasing automotive
industry is driving growth of isoprene monomer market. According to the Association of
Natural Rubber Producing Countries (ANRPC), the world consumption of natural rubber
is 5.822 million tones, which increased by 6.2% during the period of January 2018 to
May 2018.
Also, with increasing demand for personal vehicles and extensive economic growth, the
tire and tire components industry is expected to emerge as the largest end-use industry
for natural rubber in 2017, thereby fueling growth of isoprene monomer market.
According to the International Organization of Motor Vehicle Manufacturers (OICA), the
motor vehicle production in Europe was 21.49 billion in 2016, which increased up to
22.16 billion in 2017.
However, isoprene is carcinogenic to humans, which is restraining growth of isoprene
monomer market. Isoprene is classified as hazardous under the globally Harmonized
System on Classification and Labeling (GHS), owing to its high flammable property,
which is in turn negatively impacting the isoprene monomer market growth.
Market Trends
Among application, polyisoprene segment is expected to witness significant growth in
the near future, owing to increasing demand for isoprene rubber in tire industry.
According to People’s Government of Jilin Province, the growth rate of isoprene rubber
was 3.1% during 2010-2015.
The adhesives and sealants end-use industry segment is expected to show significant
growth in the global isoprene monomer market over the forecast period. This is
attributed to surging demand for isoprene monomer in automobile and construction
industry.
According to the India Brand Equity Foundation (IBEF), the Indian construction industry
is expected to grow to a value of US$ 5 billion by 2020.
Moreover, due to stringent government regulations on VOC emissions, end-use industries
are opting for alternatives to organic solvents. For instance, SIKA AG introduced a new-
generation adhesive called SikaBond AT-75 for wood floor bonding, meeting highest EHS