Isoprene Market Updates

Global Isoprene Market size was valued at USD 4975.83 Million in 2023 and is poised to grow from USD 5363.95 Million in 2024 to USD 311.3 Million by 2032, growing at a CAGR of 7.8% in the forecast period (2025-2032).

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. 'Shell plc', 'LyondellBasell Industries Holdings B.V.', 'Kuraray Co., Ltd.', 'Exxon Mobil Corporation', 'Shandong Baomo Biochemical Co., Ltd.', 'Braskem SE (Odebrecht S.A)', 'Chevron Phillips Chemical Company LLC', 'Pon Pure Chemicals Group (Pure Chemicals Co)', 'China Petrochemical Corporation (Sinopec Group)', 'The Dow Chemical Company', 'Eneos Corporation ', 'JSR Corporation ', 'Lotte Chemical Corporation '

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.

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.

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.