According to Technavio market research, increasing demand for rubber tyres are propelling the global polyisoprene rubber (IR) market to grow at a CAGR of over 7% during the period 2018-2022.
The tyre industry is one of the major 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 widely used in the production of tyres and tyre products such as auto tyres, bicycles tyres, and aircraft tyres. An increase in the price of natural rubber has encouraged tyre manufacturers to replace it with synthetic rubbers, among which IR is one of the least expensive types. The manufacturers depend more on synthetic rubber to improve the quality of the products by increasing the tensile strength. Additionally, synthetic rubber provides other specific features, particularly in the domains of durability and rolling resistance, and is usually used for passenger car and motorcycle tyres as it delivers good-grip performances.
IR is mostly used with other rubbers. The blending of IR with natural rubber or other elastomers enhances tensile strength, tear strength, and flexibility. The production of tyre and tyre products accounts for more than 70% of the global IR consumption. In developed countries, IR loadings are particularly high in tyres because of quality control and necessary performance requirements in high-performance tyres. The increasing focus on low-rolling-resistance tyres to improve fuel efficiency is expected to fuel the demand for IR.
A senior analyst at Technavio for specialty chemicals said: “The automotive industry relies on IR for non-tyre applications as well. The major non-tyre automotive applications include motor mounts, shock-absorber bushings, and pipe gaskets. The increasing number of automobiles worldwide and growing demand for IR for numerous applications, including tyre and non-tyre, will stimulate the growth of the global IR market.”