The North America Isoprene Market would witness market growth of 6.8% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 342.2 Kilo Tonnes, showcasing a growth of 5.9% (2019-2022).
Isoprene is a colourless and flammable gas used to manufacture various items, such as tires and synthetic rubbers. In addition to its application in synthetic rubbers, isoprene is a prominent feedstock in the production of plastic and a fuel additive. The growing usage of isoprene in various industrial applications is expected to be the primary driving force for the product market during the forecast period. This is due to its widespread use in tire manufacturing, an essential component of automotive manufacturing. Increasing personal incomes are the primary driver of the tire industry's expansion, as they stimulate a greater demand for automobiles. Increased demand for tires will likely increase product demand in the upcoming years. The increasing utilization of isoprene in manufacturing rubber, tires, and adhesives is the primary driver of its demand growth. The product is classified as a hydrocarbon compound primarily created for use in the creation of synthetic rubber.
Numerous industries, including consumer goods, automotive, electrical & electronics, and others, employ industrial rubber and plastics. Industrial rubber and plastics are mostly used in the automotive industry. Most parts in an automobile's sitting area are rubber or plastic. Rubber is extensively utilized in the doors, seats, clutch and gear panels, steering, and other passenger car parts, whereas plastic is frequently used in the dashboard. Rubber and plastic are used mostly in producing electrical and electronic devices. In the upcoming years, the expanding automotive, electrical, and electronics sectors will be projected to drive demand for the product.
The US market dominated the North America Isoprene Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $964.8 million by 2030. The Canada market is exhibiting a CAGR of 7.3% during (2023 - 2030). Additionally, The Mexico market would experience a CAGR of 7.9% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The 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)
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 