The global synthetic polyisoprene rubber market is currently valued at around USD 2.5 Billion and is anticipated to expand at a healthy CAGR of 6.2% to reach USD 4.6 Billion by 2032. Growing demand for synthetic polyisoprene rubber which is widely used in the production of tires, belts, footwear, and medical accessories including medical gloves, and medical balloons is expected to drive the market.
| Attribute | Details |
|---|---|
| Synthetic Polyisoprene Rubber Market Value (2021) | USD 2.4 Billion |
| Estimated Market Size (2022) | USD 2.5 Billion |
| Projected Market Valuation (2032) | USD 4.6 Billion |
| Value-based CAGR (2022 to 2032) | 6.2% |
| Collective Value Share: Top 3 Countries (2022E) | 41.3% |
According to the latest research published by Future Market Insights (FMI), the global synthetic polyisoprene rubber market is anticipated to hold around 8.5-9% of the total synthetic rubber market share.
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| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 7.6% |
| H1,2022 Projected (P) | 7.9% |
| H1,2022 Outlook (O) | 7.8% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (-) 10 ↓ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (+) 20 ↑ |
Future Market Insights presents a comprehensive comparison and review analysis for market growth outlook on a half-yearly basis for the synthetic polyisoprene rubber market. Principally this market is subjected to an array of certain industrial and macro-economic factors including automotive, footwear, medical, and healthcare sector growth along with growth in the chemical industry and adaptation of technology in manufacturing sectors.
Synthetic polyisoprene rubber is utilized in the production of tires, and footwear, whereas growing demand for adhesives, sealants, belts, and others from the industrial and construction sectors is expected to bolster the demand for synthetic polyisoprene rubber.
According to FMI analysis, the synthetic polyisoprene rubber market is projected to grow at a rate of 7.9% in H1, 2022 as compared to actual growth of 7.6% in H1, 2021. The outlook for the synthetic isoprene market in H1, 2022 is expected to grow at a rate of 7.8%.
A key reason for this high CAGR is attributed to the increasing demand for medical gloves, medical balloons, catheters, fluid transport tubing, surgical tubing, and other medical devices and equipment where synthetic isoprene rubber is used as prime raw material.
Due to its long-lasting, high tensile strength, adhesion, and resistance to abrasion, a significant alternative to natural rubber, and weather-resistant properties make synthetic polyisoprene rubber a suitable choice for tire production. Thus growing production of automotive vehicles is bolstering the sales of tires, ultimately rising the demand for synthetic polyisoprene across the world.
The demand for synthetic polyisoprene rubber grew at a 5.6% CAGR between 2017 and 2021. The extensive use of synthetic polyisoprene rubber in medical accessories such as gloves, balloons, catheters, and fluid transport will propel demand.
Synthetic polyisoprene rubber is significantly used as a raw material for the production of tires. Growing awareness among employers regarding the usage of industrial gloves and a significant rise in the demand for medical gloves has increased the consumption of synthetic polyisoprene rubber.
Additionally, synthetic polyisoprene rubber is utilized in the production of condoms, and footwear, whereas growing demand for adhesives, sealants, belts, and others from the industrial and construction sectors is driving the synthetic polyisoprene rubber market.
Principal Consultant
Synthetic polyisoprene rubber is long-lasting and has strong tensile strength, adhesion, and resistance to abrasion, inorganic chemicals, weather, and cold which makes it a suitable choice for tire production. An increase in the production of automotive vehicles, light, and heavy commercial vehicles, trucks, and off-road vehicles, and two-wheelers is bolstering the sales of tires. Furthermore, after-sales services require a large number of tires.
Polyisoprene rubber is widely utilized in the manufacturing of tires for a variety of vehicle types. The sales outlook for synthetic polyisoprene rubber is greatly aided by rising tire demand across the world.
According to FMI, in terms of value, sales of synthetic polyisoprene rubber in the tire manufacturing segment are estimated to grow at a CAGR of 6.0% from 2022 to 2032.
Polyisoprene is a synthetic substance that has all of the benefits of natural rubber latex. Synthetic polyisoprene, unlike natural latex, is stabilized with surfactant and does not include natural latex proteins, which can cause latex allergies.
Synthetic polyisoprene latex gloves provide greater softness, medium tensile strength, and excellent viral and bloodborne pathogen barrier performance. These properties make synthetic polyisoprene rubber an excellent choice for surgical medical gloves.
The replacement of natural rubber gloves with high-quality polyisoprene rubber gloves has also added to the comfort and protection. Significant growth in the medical sector, enhancement in the healthcare infrastructure, and increasing construction of hospitals and clinics are anticipated to propel the demand for synthetic polyisoprene rubber.
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Industrial gloves and tire manufacturers are engaged in research and development activities to leverage the exceptional properties of the diverse range of materials and polymers suited for a wide array of industrial safety applications and the production of high-efficiency tires.
In key countries where CO2 emissions are being regulated, implementing action to curb the emission has led to new product innovation. For instance, due to government pressure to cut CO2 emissions and the development of the China Rubber Industry Association (CRIA) tire labeling system, current tire technology in China is focused on low rolling resistance (LRR) tires.
Furthermore, exporting tire producers must adhere to their export market's tire labeling standards.
There is also a greater emphasis on tire research and development for electric and driverless cars. Furthermore, key manufacturers in the global industrial gloves and tires market are investing heavily in research, development, and innovations to gain a competitive edge in the market.
Several rubbers like polystyrene, butadiene, and neoprene are available in the market and used for the production of tires, gloves, belts, footwear, and other medical equipment.
Polystyrene and butadiene rubbers are extensively used in tire manufacturing accounting for a prominent share of the tire industry. Further various types of rubbers are used in the production of gloves, which is a key application of synthetic polyisoprene rubber.
Increasing Consumption of Polyisoprene Rubber Will Fuel Sales
According to Advanced Medical Technology Association, the USA has the world's largest medical device market, accounting for more than 40% of the global MedTech industry. Exports of medical technology in the USA have continuously outperformed imports, resulting in a trade surplus of a significant amount.
The USA is a key user of medical supplies including surgical gloves and catheters. One of the primary reasons propelling the synthetic polyisoprene rubber market in the USA is the growing use of synthetic polyisoprene in the medical device sector.
The USA is expected to remain one of the leading markets in the North American synthetic polyisoprene rubber market. The USA market is expected to reach about USD 787.1 Million by 2032, expanding at a CAGR of 5.9% during the assessment period.
Expansion in the Healthcare Sector Will Spur Demand for Synthetic Polyisoprene Rubber
In recent years, China has become the world's largest importer, consumer, and producer of synthetic rubber. As per FMI, sales in China will increase at a CAGR of 7.3% between 2022 and 2032.
One of the key factors driving the domestic healthcare sector in China. The National Bureau of Statistics announced revised demographics of the Chinese population in 2021, the number of people aged 65 and older was 200.5 million, representing 14.2% of the total population. This has increased healthcare spending, thereby augmenting the growth in the medical accessories market.
Applications of Synthetic Polyisoprene Rubber in Medical Accessories to Remain High
In terms of applications, the total demand for synthetic polyisoprene in medical applications will account for 32.9% of the total market share in 2022. Sales in the light synthetic polyisoprene rubber segment increased with a Y-O-Y of 19.0% in 2020.
With the increasing number of accidents, subsequent fatalities, and injuries in mining, construction oil and gas, and chemical industries, the adoption of industrial gloves for the labor workforce has become a critical requirement.
The adoption of industrial gloves in various industries not only reduces injuries and fatalities but also increases productivity output. This has encouraged employers to adopt industrial gloves for their employees for usage during various stages of the workflow.
Significant growth in the medical sector, enhancement in the healthcare infrastructure, and an increase in the construction of hospitals and clinics are anticipated to propel the demand for synthetic polyisoprene rubber.
Increasing use of medical gloves, medical balloons, catheters, fluid transport tubing, surgical tubing, and other medical devices and equipment are expected to fuel the demand for synthetic polyisoprene rubber during the forecast period.
Sales of Synthetic Polyisoprene Rubber in the Automotive and Transportation Sector Will Gain Traction
By end-use industry, the automotive and transportation sector is expected to account for a dominant share in the global synthetic polyisoprene rubber market. The production of automobiles, light, and heavy commercial vehicles, and two-wheelers is increasing, which is driving sales across the globe.
Moreover, tires are being significantly consumed in the aftersales services, polyisoprene rubber is extensively used in the production of tires used in various categories of vehicles. Increasing demand for tires from OEM and after services is significantly benefiting the consumption of synthetic polyisoprene rubber.
Key players in the global synthetic polyisoprene rubber market are focusing on the expansion of their production capacities owing to the rising demand for the product in medical applications and tire production. Further, to enhance their global presence, key manufacturers are investing in acquisitions and collaborations activities to improve the market presence, and consumer base and strengthen the distribution network.
Some of the key developments are
| Attribute | Details |
|---|---|
| Estimated Market Size (2022) | USD 2.5 Billion |
| Projected Market Valuation (2032) | USD 4.6 Billion |
| Value-based CAGR (2022 to 2032) | 6.2% |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Million for Value and Tons for Volume |
| Key Countries Covered | The USA, Canada, Brazil, Mexico, Germany, Italy, France, the United Kingdom, Spain, Russia, Poland, China, Japan, South Korea, India, ASEAN, Australia and New Zealand, GCC Countries, Turkey, and South Africa. |
| Key Segments Covered | Application, Contact, End-Use & Region |
| Key Companies Profiled | Kurarray Co., Ltd.; Goodyear Tire & Rubber Company; JSR Corporation; Zeon Corporation; Nizhnekamskneftekhim; Hartalega Holdings Berhad; Top Glove Corporation Bhd; Ansell Limited |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The synthetic polyisoprene rubber market is anticipated to reach a valuation of USD 2.5 Billion in 2022.
The synthetic polyisoprene rubber market is anticipated to witness a growth of 6.2% over the forecast period of 2022 and 2032 in terms of value.
The synthetic polyisoprene rubber market witnessed a growth of 5.6% CAGR between 2017 and 2021.
KURARAY CO., LTD., Goodyear Tire & Rubber Company, JSR Corporation, ZEON, Nizhnekamskneftekhim (NKNH), Hartalega Holdings Berhad, Top Glove Corporation Bhd, Ansell Limited, Kraton Corporation, SEMPERIT AG HOLDING, Kossan Rubber Industries Bhd and others are the leading players in the market
The top countries driving the synthetic polyisoprene rubber demand are China, the USA, and Germany.
1. Executive Summary 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Global Market Demand Analysis 2017 to 2021 and Forecast, 2022 to 2032 6. Global Market - Pricing Analysis 7. Global Market Demand (in Value or Size in USD Billion) Analysis 2017 to 2021 and Forecast, 2022 to 2032 8. Market Background 9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Application 9.1. Medical 9.1.1. Medical Gloves 9.1.2. Medical Balloons 9.1.3. Catheters 9.1.4. Fluid Transport Tubing 9.1.5. Surgical Tubing 9.1.6. Laparoscopic Introducer Valves 9.1.7. Diagnostic Slit Septum Valves 9.1.8. Ventilator Flapper Disc Valves 9.1.9. Guidewire Seals 9.1.10. Needless Injection 9.2. Tires 9.3. Belts 9.4. Adhesives & Sealants 9.5. Condoms 9.6. Footwear 9.7. Others 10. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Contact 10.1. Contact 10.2. Contactless 11. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End Use 11.1. Hospitals 11.1.1. Private 11.1.2. Public 11.2. Clinics 11.3. Blood & Organ Banks 11.4. Teaching Hospitals 11.5. Consumer Goods 11.6. Industrial 11.7. Automotive & Transportation 12. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Region 12.1. North America 12.2. Latin America 12.3. Europe 12.4. Middle East and Africa (MEA) 12.5. East Asia 12.6. South Asia and Pacific 13. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 14. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 15. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032 16. South Asia and Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032 17. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032 18. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032 19. Country-Wise Market Analysis 20. Market Structure Analysis 21. Competition Analysis 21.1. Ansell Limited 21.2. JSR Corporation 21.3. Dipped Products Plc 21.4. ZEON 21.5. Hartalega Holdings Berhad 21.6. Kossan Rubber Industries Bhd 21.7. Kraton Corporation 21.8. Top Glove Corporation Bhd 21.9. Rubberex Corporation (M) Bhd 21.10. SEMPERIT AG HOLDING 21.11. Supermax Corp. Bhd 21.12. Bangkok Synthetics Co., Ltd. (BST) 21.13. Goodyear Tire & Rubber Company 21.14. Kent Elastomers 21.15. KURARAY CO., LTD. 21.16. Elastomer Inc. 21.17. Nizhnekamskneftekhim (NKNH) 22. Assumptions and Acronyms Used 23. Research Methodology
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Synthetic Polyisoprene Rubber Market
