Global Isoprene Monomer Market: Overview
Used to manufacture synthetic rubber, the isoprene monomer is set to witness increase in demand, driving robust growth in its market over the forecast period of 2019 to 2027. Growth in automotive and construction industries is fuelling growth in the global isoprene monomer market and this is set to push forward untapped growth opportunities for players operating the isoprene monomer market playfield. Transparency Market Research notes that market valuation would grow over this period.
Global Isoprene Monomer Market: Competitors Landscape
Players in the global isoprene monomer market are many and they are all quite competitive, delving into numerous growth strategies in order to slice off a larger share of the market. In turn, such measures are making the vendor landscape rife with notable developments.
Some of the most significant and active players that operate in global isoprene monomer market landscape are the following:
- Kraton Corporation
- Royal Dutch Shell Plc.
- JSR Corporation, Kuraray Co., Ltd
- Amyris, Inc.
- Precision Dippings Manufacturing Ltd.
- Exxon Mobil Corporation
- Zeon Corporation
Global Isoprene Monomer Market: Key Trends and Drivers
From new product launches and expansion of plant capacities to growth in automobile and construction industry, a slew of trends and drivers are pushing the global isoprene monomer market on to a higher growth trajectory over the period 2019 to 2027, states Transparency Market Research. A dive in overview of key growth factors is below:
- Increase in construction volumes over the next few years is also set to drive demand for isoprene monomer over the forecast period of the report. It is quite pertinent to note here that the construction volumes would see a growth of about 85% over this decade. India, China and the United States of America will be the biggest growth contributors here in this market. In turn, as it propels demand for sealants and adhesives forward, demand for isoprene monomer will increase.
- One of the biggest growth factors in the global isoprene monomer market is increase in demand for tires, across the world – a natural outcome of increase in population, which is set to drive demand for means of transportation for people as well as goods. Rapid industrialization and growth in e-commerce is also driving demand for vehicles, driving up demand for tires. Growing demand for automotives will also create demand for sealants and adhesives, propelling growth in the global isoprene monomer market.
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Global Isoprene Monomer Market: Regional Analysis
North America will hold a prominent share of global isoprene monomer market over the forecast period. This will be owed to a growing automotive industry, which is generating demand for tires, driving demand for isoprene monomer market. United States of America will be one of the biggest growth contributors in the region. The country is the second largest seller of vehicles in the world. It is interesting to note here that in the year of 2017, 17.1 million units of light vehicles were sold in the United States of America.
On the other hand, Asia Pacific region will chart a notable compound annual growth rate over the forecast period. The natural rubber market in the region is on an upward growth curve owing to presence and strong performance of players in the automobile industry. Growth in the latter is a result of robust economic performance in countries marking the region, of increasing population, and of increase in need for transportation of goods.
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