Synthetic polyisoprene rubber, commonly referred to as IR (Isoprene Rubber), is a type of elastomer that shares similarities with natural rubber. However, unlike natural rubber, synthetic polyisoprene rubber is derived from petroleum-based feedstocks and manufactured through a controlled polymerization process.
The global Synthetic Polyisoprene Rubber Market is anticipated to expand at a robust 6.2% CAGR over the forecast period between 2022 and 2032, finds Future Market Insights (FMI) in a recent market analysis. The synthetic polyisoprene rubber market is likely to be driven by its widespread application in the manufacturing of tires, belts, footwear, and medical accessories such as medical gloves and medical balloons.
Synthetic polyisoprene rubber is widely utilized as a basic material in tire manufacturing. The demand for synthetic polyisoprene rubber has grown due to greater awareness among employers about the use of industrial gloves and increasing demand for medical gloves. In addition to footwear, synthetic polyisoprene rubber is used in the manufacturing of adhesives & sealants, belts, and other products in the industrial and construction sectors, which is driving the synthetic polyisoprene rubber market.
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The demand for synthetic polyisoprene rubber is expected to rise due to expansion in the medical sector, improvements in healthcare infrastructure, and rising establishment of hospitals and clinics.
As per FMI, the market is predicted to be dominated by East Asia, which is expected to continue over the forecast period. Backed by the aforementioned factors, the global synthetic polyisoprene rubber market is projected to top US$ 1.3 Bn by 2032.
"Over the forecast period, sales of synthetic polyisoprene rubbers are expected to be driven by the significant growth in the medical sector, along with rising production automotives across the globe," says and FMI analyst.
Key Takeaways:
By application, demand for synthetic polyisoprene rubber for medical accessories is expected to surge at a 6.6% CAGR over the forecast period.
The contact segment of the synthetic polyisoprene rubber market is anticipated to grow at 5.8% CAGR through 2032.
The synthetic polyisoprene rubber market in the U.S. is anticipated to expand at a 5.9% CAGR by 2032.
China will emerge as an attractive synthetic polyisoprene rubber market, with sales growing at a 7.3% CAGR.
Significant rise in the demand for tire production is propelling sales of synthetic polyisoprene rubber.
Competitive Landscape
Key players in the global synthetic polyisoprene rubber market include
Kurarray Co., Ltd.,
Goodyear Tire & Rubber Company
JSR Corporation
Zeon Corporation
Nizhnekamskneftekhim
Hartalega Holdings Berhad
Top Glove Corporation Bhd
Ansell Limited
Leading players are acquiring small and medium-sized players and are investing in increasing their production capacity. Along with this, they are investing in process development, and product innovations and are also focusing on green technology to reduce carbon emission. For instance:
In April 2022, SEMPERIT AG HOLDING announced its plans to expand its production lines by investing in the construction of six additional dipping lines for glove production. The company planning to invest EUR 21 million for this construction.
In March 2022, Supermax Corp. Bhd announced to start manufacturing facility for gloves in U.S.
Synthetic Polyisoprene Rubber Market by Category
By Application:
Medical
Medical Gloves
Medical Balloons
Catheters
Fluid Transport Tubing
Surgical Tubing
Laporoscopic Introducer Valves
Diagnostic Slit Septum Valves
Ventilator Flapper Disc Valves
Guidewire Seals
Needless Injection
Tires
Belts
Adhesives & Sealants
Condoms
Footwear
Others
By Contact:
Contact
Contactless
By End Use:
Hospitals
Private
Public
Clinics
Blood & Organ Banks
Teaching Hospitals
Consumer Goods
Industrial
Automotive & Transportation
By Region:
North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East & Africa
More Insights into the Synthetic Polyisoprene Rubber Market Report
In its latest report, FMI offers an unbiased analysis of the global Synthetic Polyisoprene Rubber market, providing historical data from 2017 to 2021 and forecast statistics for the period of 2022-2032. To understand the global market potential, its growth, and scope, the market is segmented based on application (Medical, Tires, Belts, Adhesives & Sealants, Condoms, Footwear, and Others), by Contact (Contact & Contactless), and end use (Hospitals, Clinics, Blood and Organ Banks, Teaching Hospitals, Consumer Goods, Industrial, and Automotive & Transportation) across six regions (North America, Latin America, Europe, East Asia, South Asia Pacific, and the Middle East & Africa).
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