Progression Path: Synthetic Polyisoprene Rubber Market Heading for US$ 4.6 Billion by 2032

The global synthetic polyisoprene rubber 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. The market for synthetic polyisoprene rubber is expected to be driven by its widespread use in the production of tires, belts, footwear, and medical accessories such as medical gloves and medical balloons.

The elastomer synthetic polyisoprene rubber, often known as IR (Isoprene Rubber), is similar to natural rubber. In contrast to natural rubber, synthetic polyisoprene rubber is produced from petroleum-based feedstocks using a controlled polymerization process.

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The primary material in tire manufacture is synthetic polyisoprene rubber. Because of increased employer awareness regarding the usage of industrial gloves and rising demand for medical gloves, demand for synthetic polyisoprene rubber has increased. Aside from footwear, synthetic polyisoprene rubber is used to make adhesives and sealants, belts, and other items in the industrial and construction sectors, which is propelling 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.

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$ 4.6 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 U.S. 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.
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

Kurarray Co., Ltd.,
Goodyear Tire & Rubber Company
JSR Corporation
Zeon Corporation
Nizhnekamskneftekhim
Hartalega Holdings Berhad
Top Glove Corporation Bhd
Ansell Limited

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 emission. For instance:

In April 2022, SEMPERIT AG HOLDING announced its plans to expand its production lines by investing in the construction of six additional dipping lines for glove production. The company planning to invest EUR 21 million for this construction.
In March 2022, Supermax Corp. Bhd announced to start manufacturing facility for gloves in U.S.

Key Segmentation

By Application: