The Asia Pacific Isoprene Market would witness market growth of 7.8% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 1248.6 Kilo Tonnes, showcasing a growth of 6.3% (2019-2022).
Adopting isoprene spans many industries, driven by its diverse applications and the unique properties it imparts to end products. The rubber industry is a major consumer of isoprene, with synthetic rubber production being a key contributor. The versatility of isoprene is evident in its adoption in the adhesives and sealants industry, where its adhesive properties are harnessed for bonding materials in construction, packaging, and other sectors. The medical field relies on isoprene to produce medical-grade rubber, ensuring the safety and efficacy of healthcare products.
Furthermore, the flavors and fragrances industry leverages isoprene to create a sensory experience in various consumer goods. The growth of end-use industries, and the continual development of new applications propels the adoption of isoprene. As emerging economies witness industrialization and infrastructure development, the demand for isoprene will likely witness an upward trajectory.
It is utilized to synthesize aroma compounds, which are essential for creating distinctive flavors and fragrances in China. The growth of China's flavors and fragrances sector leads to an increased demand for various aroma compounds, thereby driving the need for isoprene. The flavors and fragrances sector are closely linked to the consumer goods industry, including perfumes, cosmetics, toiletries, and food and beverage items in China. The growth of the consumer goods industry in China contributes to the demand for isoprene-derived compounds in the formulation of scents and flavors. All these factors will boost the regional market’s expansion in coming years.
The China market dominated the Asia Pacific Isoprene Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,333.3 million by 2030, The India market is registering a CAGR of 8% during (2023 - 2030). Additionally, The Japan market would showcase a CAGR of 7.3% during (2023 - 2030).
Based on Grade, the market is segmented into Polymer Grade, and Chemical Grade. Based on Application, the market is segmented into Tires, Adhesives, Industrial Rubber, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Isoprene Market is Predict to reach $7.8 Billion by 2030, at a CAGR of 7.6%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include 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), and The Dow Chemical Company.
By Grade (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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