Global polyisoprene market is expected to witness significant growth over the next seven years on account of increasing demand in various products including tires, belts, gaskets, hoses, foam rubber, molded and mechanical goods, bottle nipples, gloves, caulking, and sealants. Rising consumption in automotive industry in various countries including China, India, Mexico and the U.S. will be a major driver for market penetration. Increasing demand owing to good resilience, high gum tensile strength, and high hot tensile, and good tack will drive industry growth over the next seven years. High requirement for gum compounds in cut thread, baby bottle nipples, rubber bands and extruded hose will augment market expansion.
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Growing consumption of polyisoprene in tires, particularly green tires, as it imparts exceptional performance is expected to drive industry expansion. Growing consumption in healthcare, coatings, and adhesive sector is expected to stimulate industry demand. Increasing investment by various major players in countries including India, China, Mexico, Russia, Vietnam, and South Africa is expected to propel growth.
Rising disposable incomes coupled with urbanization will lead to higher demand for footwear which in turn will augment polyisoprene demand growth over the forecast period. Mounting usage of polyisoprene in surgical gloves and condoms is expected to propel industry growth. In addition, polyisoprene’s various properties including waterproof, large stretch ratio and high resilience will fuel its demand over the forecast period.
Asia Pacific is expected to witness significant rise on account of numerous rubber manufacturing bases in Thailand, Vietnam, Indonesia, and Malaysia. However, high cost of polyisoprene as compared to natural rubber latex is expected to hinder growth over the next seven years. In addition, increasing consumption of natural rubber in various applications including adhesives, cement, and insulation will restrict industry expansion.
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Asia Pacific was a dominant market and is expected to witness significant growth over the forecast period owing to accelerating various end-use industries including automotive, medical and construction industry in China, India, and Indonesia. In addition, increasing vehicle production in countries including China, Indonesia, Japan, South Korea, and India is expected to be a major driver for market growth. High requirement of polyisoprene for vehicles in China has been gradually increasing on account of high consumption by players including Toyota, Honda, and Hyundai.
North America is expected to spur industry expansion on account of high vehicles production mainly in Mexico and the U.S. along with heavy R&D by domestic companies aimed at product innovation and increased application scope.
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