Global Isoprene Rubber Latex market is estimated to witness a growth rate of 8.0% over the forecast period due to Growing usage in the medical and consumer goods industries will offer a favorable environment for market growth in the future years. – ChemView Consulting Analyst.
As per the recent survey conducted by ChemView Consulting, the global Isoprene Rubber latex market size was valued at US$ 809.4 Mn in 2022 and is projected to reach US$ 1,498.2 Mn by 2030, with a CAGR of 8.0% between 2022 and 2030.
Critical factors driving growth in the Isoprene Rubber Latex market are rising usage of isoprene rubber latex in manufacturing personal protective equipment and rising demand for medical equipment from the healthcare industry. The market for isoprene rubber latex accounts for around 25% of the worldwide isoprene market. Isoprene is utilized in various sectors, including the automotive, medical, and construction industries.
Isoprene Rubber Latex Market 2022-2030: Report Coverage and Highlights
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By Application: Surgical gloves, balloons, and catheters manufactured of isoprene rubber latex are in high demand in the Asia Pacific area, thanks to improvements in healthcare standards and the rise of the region’s medical tourism sector.
The region’s fast industrialization is increasing in demand for industrial products such as gaskets, hoses, and other items as people become more conscious of the health and safety precautions that must be taken to avoid disease transmission following the COVID – 19 pandemics.
By Region: In 2021, Asia-Pacific region is estimated to account for more than two-fourths of the global volume share, which is higher than any other region. In 2021, the China Isoprene Rubber Latex market was valued at US$ 115.9 Mn growing at a CAGR of 7.1% between 2022 and 2030.
The Market for isoprene rubber latex in the United States expanded 5.5% year over year in 2021, reaching a value of US$ 137.7 Mn. In the future years, the rapid development of end-use sectors in the United States, such as medical, construction, and industrial safety equipment, is predicted to enhance demand for isoprene rubber latex for manufacturing safety gloves.
Competition Summary: The isoprene rubber latex market is estimated to be a fairly consolidated market with top players dominating the business with a significant share.
Key players are investing significantly in expanding their business footprint all over the globe through expansion, acquisitions, partnerships, and collaboration strategies. Key players are also investing in catering to the emerging applications for the product to gain maximum profit from the emerging fields.
Key companies covered in the market study:
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