Isoprene Rubber Latex Market: Driving Factors and Market Challenges Analysis till 2026

Date: 2021-01-06   Author: Rahul Varpe  Category: #news

Isoprene Rubber Latex Market: Driving Factors and Market Challenges Analysis till 2026

In terms of revenue, isoprene rubber latex market size is forecast to cross the USD 340 million mark by 2025. Strict regulations prompting adoption of medical gloves across healthcare facilities, along with a positive condom usage outlook is likely to drive global isoprene rubber latex industry growth.

The product is majorly employed in manufacturing thin-walled elastic products, for the consumer goods, healthcare, and industrial sectors. Encompassing a diversified application spectrum, condom application remains a profitable avenue for isoprene rubber latex market. Developing countries, such as Brazil, China, India, and others have witnessed major adoption of condoms over recent years.

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This can be attributed to various efforts undertaken by governments and private organizations across these countries to control exploding population expansion. Moreover, growing awareness pertaining to sexually transmitted diseases will further boost product adoption. Escalating demand for condom will be a major contributor to the expansion of isoprene rubber latex industry over the coming years. As per estimates, condoms application segment is expected to register an appreciable CAGR of more than 6% over the forecast timeline.

Elaborating further on the application landscape, isoprene rubber latex is extensively used in manufacturing medical supplies, such as balloons, gloves, tube connectors, catheters, etc. may change business scenario over the coming years. The medical glove segment is expected to dominate the overall isoprene rubber latex industry share owing to product’s high purity, clarity, and easy usability.

In 2017, the global healthcare industry accounted for a revenue of USD 1.5 trillion in 2017 and is estimated to showcase robust growth over the analysis period. The demand for medical supplies will also escalate, eventually supplementing isoprene rubber latex industry share. However, the product may experience tough competition from other synthetic latex materials, such as nitrile, vinyl, etc., which may hamper industry growth.

End-user segments in isoprene rubber latex industry include industrial, medical, and consumer products. In 2017, medical end-user accounted for revenue generation of over USD 150 million in the isoprene rubber latex industry share. While IRL industry share from consumer product segment is expected to accumulate gains over USD 50 million by 2025. The major aspect driving segmental growth is growing demand for condoms as a protection tool against STIs.

Region-wise, Asia Pacific dominated the isoprene rubber latex industry in 2017 and is likely to experience maximum product demand in the coming years. China and Malaysia are touted to emerge as key country-specific markets within Asia Pacific owing to rapid adoption of medical gloves and inflated condom production in these countries.

Elaborating further on the geographical landscape, North America isoprene rubber latex market is forecast to register a notable CAGR of 6% over the analysis period. Heightened adhesive and condom production across North America is the key factor driving rubber latex industry growth.

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Kew players contributing towards global isoprene rubber latex market expansion include JSR Corporation, Kraton, Kuraray, Kent Elastomers and Puyang Linshi. With surging product demand, more players are likely to enter the industry over the forecast years.

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Rahul Varpe

Rahul Varpe currently writes for algosonline. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. ...

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