Isoprene is an unsaturated Penta-hydrocarbon that, in its purest form, is a colorless volatile liquid. According to BlueQuark Research & Consulting, the global Isoprene Rubber market is expected to witness a significant growth rate during the forecast period. Factors such as growing demand in the tire manufacturing and automobile sector from emerging countries like China and Russia and the growing urbanization and industrialization drive the current Isoprene Rubber market in the forecasted period. Furthermore, the increase in isoprene rubber usage in the healthcare and medical sectors is expected to increase over the forecasted period. Volatility in the natural rubber prices could further propel the growth of the Isoprene Rubber market. However, the constant fluctuations in the crude oil prices disrupted the supply chain of raw materials, and rubber manufacturing industry regulations are likely to act as the Isoprene Rubber (IR) market's restraint.

Isoprene Rubber is used to manufacture tires, springs, rubber bands, and conveyor belts, and its property of high tensile strength is extremely useful in making gloves and balloons. It serves various end-users in the tire, medical, construction, and automobile industry.

The Tire and Automobile industry is a prime consumer of isoprene rubber in the global market and is expected to drive the future market. Despite a tough 2020, the automobile industry finally found its footing in 2021, with sales restoring to the pre-pandemic times giving the industry a much-needed boost. The global automotive market's export value was estimated to be about USD 37 million in 2020, increasing over USD 11 million from the previous year. The tire manufacturing industry was the second largest application segment for the isoprene rubber market over the past five years and is expected to witness the fastest growth over the forecast period on account of rising demand for automobiles across the world, especially in growing economies including India and China. Isoprene rubber is employed mainly in the tire industry to manufacture sidewalls, break, tread and carcass. In addition, increasing demand for isoprene in the manufacturing of conveyor belts and driving belts is anticipated to fuel its market growth. The growing demand for energy-efficient vehicles has set the EV sector of the automotive industry on a rapid rise, with record sales in emerging countries like China. This increasing demand in the automobile and tire sector could drive the growth of the isoprene rubber industry for the forecasted period.

The Asia Pacific region is expected to be the largest market for Isoprene Rubber, owing to the rapidly increasing demand in the tire and automotive industry. Also, the rapid industrialization in the region and its use in the medical sector in emerging countries like China and India could fuel the rising demand for isoprene rubber. The isoprene rubber market can be segmented based on end-use industries, including tire manufacturing, medical, cable insulation, conveyor belts, drive belts, and niche applications, including footwear and consumer products. Isoprene rubber has several disadvantages like low permeability to gases, poor resistance against acid, fuel, oil, steam etc. and is not recommended for applications involving food contact, due to which there is a demand for its substitutes. Chloroprene rubber, neoprene rubber, and vulcanized rubber are some alternatives that can overcome the limitations of isoprene rubber. These can be used as substitutes for isoprene rubber. China's EV sales exceeded 1.3 million, representing 41% of global EV sales in 2020, depicting the region's automotive industry boom. China was the world's leader in importing isoprene rubber in 2020 with 46,020 tons, and Russia was the world's leader in exports with 220,457 tons 2020. China is a net importer of natural rubber, with a massive gap between the supply and demand of natural rubber. To bridge this gap, China is developing a Jilin Economic and Development Area, which could be capable of over 100,000 Tons/Year of Isoprene Rubber production for its domestic needs. China is on the road to massively boosting its isoprene rubber production to meet its increasing demand and reduce its import dependence. Isoprene rubber is expected to replace natural rubber in various applications over the forecasted period owing to its similar molecular structure and properties. Volatile natural rubber prices are further expected to grow the isoprene rubber market. Properties of isoprene rubber, including high tensile strength and elongation, are beneficial to the gloves and balloon industry in the healthcare sector which is anticipated to drive its global market growth. Synthetic polyisoprene rubber is utilized in the production of tires and footwear. In contrast, growing demand for adhesives, sealants, belts, and others from the industrial and construction sectors are expected to bolster the need for synthetic polyisoprene rubber. Reforms like this in the region are propelling the growth of the isoprene market for the forecasted period.

Major global key players in the industry were PJSC Nizhnekamskneftekhim, Sibur, Goodyear Tire and Rubber Company, Kraton, JSR Corporation, KauchukSterlitamak, Dow Chemical Company, Yikesi New Material, Tpi New Material, among others.

Goodyear Tire and Rubber Company, a significant player in the tire industry, announced its acquisition of Cooper Tire and Rubber Company with a total enterprise value of USD 2.5 billion in February 2021. The company also had the highest Q1 income in 2021 since 2018 of USD 226 million.

In March 2020, Ansell Limited acquired a 50% stake in Malaysian rubber gloves maker Careplus (M) Sdn. Bhd.

In Sept 2020, DPL launched a new TPR plant at its Biyagama factory. DPL focuses on growing its range of supported gloves.

In Aug 2020, Hartalega Holdings Berhad's subsidiary Hartalega NGC Sdn Bhd proposed the acquisition of a 60.57-acre tract of land in Sepang, Selangor, from Kumpulan Tanjung Balai Sdn Bhd for RM158.31mil. The track will be used to construct different glove manufacturing facilities to increase the group's installed capacity.

Global Isoprene Rubber Market report provides deep insight into the Industrial market's current and future state across various regions. The study comprehensively analyses the Isoprene Rubber market by segmenting based on the Grade (Industrial Grade, Medical Grade), End-User Industry (Tires, Medical, Construction, Automobile, Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints and the impact of Covid-19 on the market growth in detail. The study covers and includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.