The global polyisoprene rubber market is forecast to grow at a CAGR of 7.29% from 2018-2022.
One trend in the market is rising demand for biomass-derived IR. The use of bio-based feedstock in the production of synthetic rubber is one of the rising trends. The development of renewable chemicals for the production of rubber is witnessing rapid growth on the grounds of achieving sustainability.
According to the report, one driver in the market is increasing demand from the tyre industry. The tyre industry is one of the key end-user industries of IR. The automotive sector accounts for the maximum share of the global IR market in terms of consumption as it is extensively used in the production of tyres and tyre products including auto tyres, bicycles tyres, and aircraft tyres.
The natural rubber market is witnessing a rebound in natural rubber prices, which would contribute to the regaining market prosperity. It is expected to gain from the expected trends in the crude oil market and betterment in the prices of commodities. The recovery of the prices of natural rubber is a result of certain factors that impacted the global economy as well.