The global isoprene rubber latex market is anticipated to expand at 8.1% CAGR over the forecast period between 2021 and 2031, finds Future Market Insights (FMI) in a recent analysis. Increasing demand of medical gloves and condoms will continue driving the isoprene rubber latex sales. Growing utilization in medical and consumer goods industry will create conducive environment for the growth of the market in the coming years.
FMI also forecasts the global isoprene rubber latex market to register year-on-year growth of 10.1% in 2021. Surging application of isoprene rubber latex in manufacturing of medical gloves and condoms will help the market gain traction over the course of the forecast period.
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| Isoprene Rubber Latex Market Base Year Value (2020A) | US$ 665.6 Mn |
| Isoprene Rubber Latex Market Estimated Year Value (2021E) | US$ 732.5 Mn |
| Isoprene Rubber Latex Market Projected Year Value (2031F) | US$ 1,602.0 Mn |
| Value CAGR (2021-2031) | 8.1% |
| Collective Value Share: Top 3 Countries (2020A) | 39.4% |
Rising demand of medical gloves in the healthcare industries due to growing awareness about health and safety measures to be employed to prevent the spread of diseases after COVID – 19 pandemic is propelling growth of the isoprene rubber latex market.
The increasing use of isoprene rubber latex in the manufacture of personal protective equipment and industrial items such as seals, gaskets, and conveyor belts is anticipated to be a major growth driver. The growing demand for customized industrial gloves is expected to bolster the sales in the market. In addition to this, application in condom manufacturing will strengthen sales prospects.
Key Takeaways:
- Medical glove manufacturers are the predominant consumers of isoprene rubber latex. Medical gloves segment exhibited high demand following the COVID-19 outbreak.
- Application in condom manufacturing will increasing, driving sales in the market.
- Demand in the U.S. will grow year on year by 8.8% in 2021.
- Demand in China will grow by 8.8% between 2021 and 2031.
- Sales in Germany will account for 14.3% of overall consumption in Europe in 2021.
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“Rising demand of medical gloves from healthcare industry and the increasing usage of adhesives in food, medical and industrial packaging will drive the market of isoprene rubber latex through the projected period from 2021 to 2031,” says a FMI analyst.
Competitive Landscape
Key market participants in the global isoprene rubber latex market elaborated in the report includes Top Glove Corporation Bhd, Zeon Corporation, PAO Sibur Holdings, Kraton Corporation, Ansell Limited, Supermax Corp. Bhd, Royal Dutch Shell Plc, Kossan Rubber Industries Bhd, JSR Corporation, Hartalega Holdings Berhad, Rubberex Corporation, Johnson Wilshire, Medline Industries, Inc., Dipped Products Plc, Protective Industrial Products, Inc., and many others.
Key players operating in the global isoprene rubber latex market are focusing on increasing their production capacities to strengthen their footprint especially in the emerging economies. Furthermore, key market participants are focusing on mergers, acquisitions and collaborations strategies to expand their global presence and strengthen their distribution network. For instance:
- In April 2018, Top Glove Corp Bhd acquired Aspion Sdn Bhd transforming the company into one of the world’s largest surgical glove maker and strengthening its position as the world’s largest glove manufacturer.
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Isoprene Rubber Latex Market by Category
By Application:
- Medical Gloves
- Condoms
- Medical Balloons
- Catheters
- Adhesives
By End Use:
- Medical
- Consumer Goods
- Industrial
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