Up from the estimated sales volume in 2018, the isoprene rubber latex market is likely to witness around 7% yearly volume growth – reaching beyond 385,000 tons by the end of 2019. The roughly US$ 544 Mn market is observing healthy growth in recent years.
Regional outlook of the isoprene rubber latex landscape projects China as the largest regional market, and SEAP most attractive, which is prominently attributed to expansion of industrial and manufacturing domains.
Dominated by leading companies that hold a collective market value share of around 70%, the global landscape of isoprene rubber latex involves a limited number of SMEs focusing on isoprene rubber latex manufacturing. The latter account for the rest 30% share of the global revenue through sales of isoprene rubber latex.
Companies are directing their efforts to catering to ever-growing demand and accessing high potential markets based in developing regional economies. With a strong foothold in regional markets, prominent players may successfully lighten the pricing pressure scenario and thereby attain high profitability.
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Elevating Industrial Safety Gloves Demand Pushes Isoprene Rubber Latex Sales, Consumer Goods Emerge Attractive
Escalating awareness levels about safety across industries has been leading to growing induction of industrial gloves, eventually pushing the prospects for isoprene rubber latex. A growing trend of customized industrial gloves, coupled with the increasing awareness about the use of condoms, is also extending its share to encourage the sales of isoprene rubber latex globally.
Rampant growth of construction sector and rapidly thriving medical sector generate excellent revenue generate prospects for isoprene rubber latex manufacturers, according to a new Future Market Insights study on the global isoprene rubber latex landscape.
A senior research analyst at FMI projects, “Consumer goods is emerging as a highly attractive end use sector for isoprene rubber latex manufacturers and it is most likely that companies in the isoprene rubber latex market will target consumer perceptions for improved market penetration”.
Medical Sector Remains in the Bandwagon of Isoprene Rubber Latex Consumption
Currently, over 65% share of the total revenue through isoprene rubber latex sales is accounted by the medical industry – owing to diverse applications. FMI forecasts that consumer goods currently accounts for a notable value share in the market, and will encounter healthy opportunity prospects in the near future.
Application-wise, medical gloves hold more than half value share in the isoprene rubber latex market, whereas condoms make up for more than 15% revenue share, which is growing at a rapid pace. Reflecting the highest estimated year on year revenue growth till 2020 and beyond, the report portrays condoms as a highly attractive segment for manufacturers of isoprene rubber latex.
Besides surgical gloves, manufacturers of isoprene rubber latex are finding notable applications in medical balloons and catheters. While growing applicability is primarily attributed to rising patient safety awareness, it is also promoting the use of isoprene rubber latex as an alternative to conventional rubber material in the manufacturing of medical safety equipment.
Additional protection and comfort offered by no-gel isoprene rubber latex based gloves is prominently pushing adoption in the healthcare sector. A growing trend of synthetic rubber gloves in modern healthcare centers is also identified to be an important trigger to the sales of isoprene rubber latex.
The FMI analyst explains further, “Our research points to the emergence of innovative, high quality, and cost competitive products across industries, as manufacturers are investing R&D efforts in cutting edge technology industrial gloves. While this has been observed to be a prominent trend among the key ASEAN countries, APAC where natural rubber usage is on a higher side is also likely to create a heap of business opportunities for penetration of isoprene rubber latex in coming years”.