The synthetic polyisoprene rubber industry 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. The global 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.
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 US 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.
- A 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
- Hebei Meishen Technology Co., Ltd,
- Konoshima Chemical Co., Ltd.,
- Kyowa Chemical Industry Co., Ltd.,
- Lehmann Voss Co. KG,
- Naikai Salt Industries Co., Ltd.,
- Dr. Paul Lohmann GmbH KG,
- NUOVA SIMA Srl.
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 emissions.
About the Chemicals and Materials Division at Future Market Insights (FMI)
The chemicals and materials division of Future Market Insights (FMI) offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on ‘green alternatives, recycling and renewable technology developments, and supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing — ‘The Way Forward’.
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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