The global synthetic polyisoprene rubber indistrty 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 increasing usage of synthetic polyisoprene rubber in the production of tires, belts, footwear, and medical accessories such as medical gloves and medical balloons is likely to boost the market for synthetic polyisoprene rubbers.
The synthetic polyisoprene rubber elastomer, often known as IR (Isoprene Rubber), is similar to natural rubber. In contrast to natural rubber, synthetic polyisoprene rubber is created by a controlled polymerization process from petroleum-based feedstocks.
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Synthetic polyisoprene rubber is the major material used in tire production. Demand for synthetic polyisoprene rubber has increased as a result of growing employer awareness about the use of industrial gloves and rising demand for medical gloves. Apart from footwear, synthetic polyisoprene rubber is used to manufacture adhesives and sealants, belts, and other goods in the industrial and construction sectors, boosting the synthetic polyisoprene rubber market.
The need for synthetic polyisoprene rubber is predicted to rise as the medical sector expands, healthcare infrastructure improves, and more hospitals and clinics are built.
According to FMI, the market would continue to be dominated by East Asia over the projection period. The global synthetic polyisoprene rubber market is expected to exceed US$ 4.6 billion by 2032, owing to the aforementioned considerations.
“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.
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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.
Key Segmentation
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
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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