USD 3.9 billion
Isoprene Market Size, Share, and Growth Analysis
Isoprene Market By Grade (Polymer Grade, Chemical Grade), By Application (Tires, Adhesives), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG15A2501 |
Region:
Global |
Published Date: January, 2025
Pages:
198
|Tables:
71
|Figures:
68
Format -
Isoprene Market Insights
Isoprene Market size was valued at USD 3.9 billion in 2023 and is poised to grow from USD 4.18 billion in 2024 to USD 7.23 billion by 2032, growing at a CAGR of 7.1% during the forecast period (2025-2032).
Growing demand for automobiles propelled by increasing individual income is the key factor behind the growth of the global isoprene market. Growth in the demand for tires is expected to further escalate the product demand in the upcoming years. The growth in demand for isoprene is majorly propelled by its rising consumption in the production of rubber, tires, and adhesives. The product is characterized as a hydrocarbon compound, which is largely manufactured for its use in synthetic rubber production.
Industrial rubber and plastics are used in a wide range of industries including automotive, consumer goods, electrical & electronics, and others. The automotive industry is the prominent consumer of industrial rubber and plastics. Most of the parts in the sitting area of automobiles are made up of either rubber or plastic. Plastics are commonly used in the dashboard of passenger cars, while rubber is highly used in the doors, seats, clutch & gear panels, steering, and others. Electrical & electronic devices are mostly produced with rubber and plastics. Growing automotive and electrical & electronics industries are anticipated to fuel the demand for the product in the coming years.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Polymer Grade
Fastest Growth
Chemical Grade
Growth Rate
7.1% CAGR
Global Isoprene Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Isoprene Market Segments Analysis
Global Isoprene Market is segmented by Grade, Application and region. Based on Grade, the market is segmented into Polymer Grade and Chemical Grade. Based on Application, the market is segmented into Tires, Adhesives, Styrene Isoprene Styrene, Isobutylene Isoprene, Polyisoprene, Block Co-Polymer, Industrial rubber and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Grade
As per global isoprene market outlook, the polymer grade segment dominated the market with the highest revenue share of 64.0% in 2024. This is attributable to owing to its applications like natural rubber. Polyisoprene is formed by joining multiple isoprene molecules, yielding four isomers, the most important of which are cis- and trans-isoprene. The rising demand for the product due to its various properties such as cold resistance, high resilience, and good tensile strength, is fueling the market for the polymer-grade product market. Isoprene is a clear and colorless liquid that contains 99.3% of its concentration and is commonly used in different industries. Polymer grade isoprene is used to make polyisoprene, which is then used to make tires, mechanical molded goods, motor mounts, shock-absorber bushings, and pipe gaskets.
As per global isoprene market forecast, the chemical grade segment covered a considerable revenue share in the market in 2024. Chemical-grade isoprene finds applications in a wide range of chemical processes and industries. Its versatility allows it to be used as a raw material or intermediate in synthesizing various chemical compounds. In chemical manufacturing, chemical-grade isoprene is a building block to produce specialty chemicals, resins, and other compounds. Its reactivity and compatibility with different chemical reactions make it valuable in creating diverse chemical products. Chemical-grade isoprene is employed in the production of flavors and fragrances. Its unique chemical composition creates distinct scents and tastes in consumer products.
Analysis by Application
In 2024, the tires segment dominated the market and witnessed the largest revenue share in the market. Innovations in tire technology, such as developing run-flat, all-season, and eco-friendly tires, rely on advancements in materials and manufacturing processes. As a key component in synthetic rubber, isoprene contributes to these innovations by enabling the production of tire materials with specific performance characteristics, including improved wear resistance, traction, and fuel efficiency. The growth of the automotive industry directly influences the demand for tires, subsequently driving the demand for isoprene. As the global population increases and more people gain vehicle access, the automotive industry expands, creating a continuous need for tires.
The mechanical rubber products segment is the fastest growing in the market as it is a key raw material in the production of high-performance rubber components. These products, including belts, hoses, gaskets, and seals, are extensively used in various industries such as automotive, industrial machinery, and construction, where durability and flexibility are critical. Isoprene-based synthetic rubber, particularly polyisoprene, is valued for its excellent tensile strength, elasticity, and resistance to wear and tear, making it ideal for mechanical applications. In the automotive sector, for instance, the increasing production of vehicles has spurred the demand for high-quality belts and hoses, directly boosting the consumption of isoprene. Similarly, industrial machinery relies heavily on gaskets and seals made from isoprene rubber to ensure operational efficiency and prevent leakage under extreme conditions.
Global Isoprene Market By Grade (%)
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Isoprene Market Regional Insights
As per isoprene market analysis, Asia Pacific dominated the market with the highest revenue share of 56.2% in 2024. This is attributed to the growth of various end-use industries wherein it is used as a tire adhesive and an industrial rubber. An increase in the production of vehicles in the region fueled the demand for producing tires at a large scale, thereby surging the consumption of the product in Asia Pacific. China is a prominent producer and consumer of rubber in the Asia Pacific owing to the presence of many its manufacturers in the country. Moreover, according to the Government of West Bengal (India), among the major rubber-consuming countries India ranks fourth in rubber consumption globally.
North America is the fastest growing region in the market owing to compelling demand from the healthcare industry. The advancement of the market in this area is being driven by soaring industrialization and advanced countries' spiked adoption rates. The rubber manufacturing companies in this region are constantly making breakthroughs, and as a result, producers are broadening their product portfolios and concentrating on mergers and acquisitions to enhance their business footprint in this area. Furthermore, the demand for medical facilities is foreseen to expand rapidly in the region, which will aid in overall market growth.
Global Isoprene Market By Geography
- Largest
- Fastest
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Isoprene Market Dynamics
Isoprene Market Drivers
Sustainability and Environmental Concerns
- The increasing global focus on sustainability and reducing carbon footprints is a major driver for the global isoprene industry. Bio-isoprene, derived from renewable sources like plant sugars, offers an eco-friendlier alternative to petroleum-based isoprene, which is used in the production of synthetic rubber and other chemicals. The demand for sustainable and bio-based materials is rising as industries such as automotive, healthcare, and packaging strive to meet environmental regulations and consumer preferences.
Technological Advancements and Innovation
- Ongoing innovations in biotechnology, fermentation processes, and catalytic cracking techniques are making bio-isoprene production more efficient and cost-competitive. Improved production technologies have reduced costs, expanded production capacity, and enabled greater scalability. As these technologies continue to mature, they will unlock new opportunities for bio-isoprene in various industrial applications.
Isoprene Market Restraints
Fluctuating Raw Material Prices
- The price volatility of raw materials used in isoprene production, such as naphtha and crude oil, poses a significant challenge to market players. Despite technological advancements, bio-isoprene production remains relatively expensive compared to traditional petroleum-derived isoprene. The high costs of raw materials, advanced fermentation processes, and specialized equipment limit the widespread adoption of bio-isoprene. Price competitiveness remains a challenge, especially in industries where cost sensitivity is critical.
Environmental Concerns
- The environmental impact associated with the production and use of isoprene-based products is a growing concern. Strict regulations regarding emissions and waste disposal are influencing market dynamics. Fluctuations in the supply of these raw materials, caused by factors such as climate change, agricultural yields, and price volatility, can impact the stability and scalability of bio-isoprene production.
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Isoprene Market Competitive Landscape
The competitive landscape of the global isoprene industry is characterized by the presence of several key players striving to gain a competitive edge through strategies such as capacity expansions, partnerships, mergers and acquisitions, and advancements in production technologies. Leading companies, including Goodyear Tire & Rubber Company, Sibur, LyondellBasell Industries, Kuraray Co. Ltd., and Royal Dutch Shell, dominate the market with their extensive product portfolios and strong global distribution networks.
Top Players in Isoprene Market
- Kuraray Co., Ltd. (Japan)
- LyondellBasell Industries Holdings B.V. (Netherlands)
- China Petrochemical Corporation (SINOPEC) (China)
- Chevron Phillips Chemical Company LLC (USA)
- LOTTE Chemical Corporation (South Korea)
- Dow (USA)
- Eneos Corporation (Japan)
- JSR Corporation (Japan)
- Pon Pure Chemicals Group (India)
- Shell PLC (UK)
- Zibo Luhua Hongjin New Material Group Co., Ltd (China)
- Braskem S.A. (Brazil)
- TPC Group (USA)
- Nizhnekamskneftekhim (Russia)
- Goodyear Chemical (USA)
- Sibur (Russia)
- ExxonMobil Chemical Company (USA)
- Yasuhara Chemical Co., Ltd. (Japan)
- ZEON Corporation (Japan)
- Shandong Yuhuang Chemical Co., Ltd. (China)
Recent Developments
- February 2023: Kuraray Co., Ltd. constructed a new plant for isoprene-related businesses at WHA Eastern Industrial Park within the petrochemical complex in Map Ta Phut, Rayong Province, Thailand. The new Thai plant will contribute to the continued growth of isoprene-related businesses by strengthening the global supply system and meet rising global demand for the SEPTON™ hydrogenated styrenic block copolymers (HSBC), and GENESTAR heat-resistant polyamide-9T (PA9T), which were developed previously using proprietary Kuraray technology.
- March 2022: South Korea-based petrochemical company DL Chemical Co., Ltd. bolstered its presence in the isoprene market through the acquisition of Kraton Corp. for $2.5 billion. This strategic acquisition has enhanced DL Chemical's market position and broadened its global footprint.
- February 2022: Bridgestone Corporation launched a joint research and development program with the National Institute of Advanced Industrial Science and Technology (AIST), Tohoku University, ENEOS Corporation, and JGC Holdings Corporation to develop chemical recycling technologies that utilize used tires to achieve high-yield production of isoprene.
Isoprene Key Market Trends
- Increasing Demand for Tires in the Automobile Industry: The tires segment covers the highest market share in the isoprene market. Isoprene is widely used in the manufacturing of tires, owing to its properties, such as flexibility, tensile strength, and tear strength, making it the material of choice in the tire manufacturing sector. According to the US Tire Manufacturers Association (USTMA), the total tire shipment in the US was around 342.1 million units in 2022, approximately 2% and 3% more than shipments in the years 2021 and 2019, respectively.
- Collaborations and Strategic Partnerships: Industry collaborations, joint ventures, and strategic partnerships between key players such as biotechnological firms, chemical manufacturers, and academic institutions are accelerating research, development, and commercialization of bio-isoprene. These partnerships are enhancing technological capabilities, reducing production costs, and expanding market access. Bio-isoprene's role in the production of bio-based synthetic rubber, particularly in the tire industry, is a growing trend.
Isoprene Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to SkyQuest analysis, the isoprene market is expected to witness steady growth in the coming years, driven by the increasing demand for synthetic rubber and advancements in production processes. However, environmental concerns and raw material price fluctuations pose challenges that need to be addressed. The market's outlook looks promising, with opportunities arising from the adoption of bio-based isoprene and expansion in emerging markets. The isoprene market holds immense potential, driven by its versatile applications and increasing demand from various industries. Market players need to adapt to changing customer preferences, invest in sustainable solutions, and leverage technological advancements to stay competitive. By addressing challenges and capitalizing on opportunities, the isoprene market is poised for significant growth in the foreseeable future.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 3.9 billion |
| Market size value in 2032 | USD 7.23 billion |
| Growth Rate | 7.1% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Isoprene Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Isoprene Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Isoprene Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Isoprene Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Isoprene Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Isoprene Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Isoprene Market Report Snapshots
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