New Product Developments, Mergers & Acquisitions, Joint Ventures, and Agreements to Expand Their Product Portfolio, Strengthen Their Distribution Network in the Isoprene Market
The isoprene market is projected to reach USD 2.96 Billion by 2021, at a CAGR of 7.4% from 2016 to 2021. Isoprene is a colorless volatile liquid obtained by thermal cracking of naphtha and other petrochemicals. Isoprene either alone or in combination with other compounds is primarily used to make polymeric materials. There has been a growing demand for isoprene from end-use industries, such as tires, non-tires, adhesives, and others.
Expansion was a key strategy adopted by major players to achieve growth in the global isoprene market between 2014 and 2016. Some of the major players operating in the isoprene market are Nizhnekamskneftekhim (Russia), SIBUR (Russia), The Goodyear Tire & Rubber Company (U.S.), Royal Dutch Shell Plc (Netherlands), Kuraray Co. Ltd. (Japan), ZEON Corporation (Japan), LyondellBasell Industries N.V.(U.S.), JSR Corporation (Japan), Ningbo Jinhai Chenguang (China), Shandong Yuhuang Chemical Group Co. Ltd. (China), Finetech Industry Ltd. (U.K.), Haihang Industry Co. Ltd. (China), Fortrec Chemicals and Petroleum Pte Ltd. (Singapore), and Braskem (Brazil). These companies also adopted strategies, such as new product developments, mergers & acquisitions, joint ventures, and agreements to expand their product portfolio, strengthen their distribution network, and easily extend their reach to their customers.
SIBUR is into the production of isoprene as well as polyisoprene. The company adopts mergers & acquisitions as its major strategy to increase its regional reach and share in the isoprene market. Since 2012, the company involved in three joint ventures in India, China, and Russia. In August 2013, SIBUR and Sinopec agreed on synthetic rubber production at the Krasnoyarsk Synthetic Rubber Plant, Russia.
The Japanese company, ZEON Corporation adopted expansion as its major strategy to increase its production and cater to the rising demand for isoprene. The company established a specialty rubber production unit in India in October, 2015. This expansion will benefit the company as the rubber market in India is growing rapidly.
Related Reports:
Isoprene Market by Type (Polymer grade, Chemical grade), Application (Polyisoprene, Styrene isoprene styrene, Isobutyl isoprene rubber), End-Use Industry (Tires, Non-tires, Adhesives), and Region - Global Forecast to 2021
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