Synthetic Polyisoprene Rubber Market Poised for Robust Growth, Anticipating 6.2% CAGR from 2022 to 2032

Synthetic Polyisoprene Rubber Market

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.

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.

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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 Billion 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.

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Synthetic Polyisoprene Rubber Market by Category  

By Application:

  • Medical
  • Tires
  • Belts
  • Adhesives & Sealants
  • Condoms
  • Footwear
  • Others

By Contact:

  • Contact
  • Contactless

By End Use:

  • Hospitals
  • 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

Old Source: https://www.globenewswire.com/en/news-release/2022/01/29/2375285/0/en/Synthetic-Polyisoprene-Rubber-Market-to-reach-US-3-82-Bn-by-2031-Comprehensive-Research-Report-by-FMI.html

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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