The chemical industry is focused to keep the business operations running along with ensuring the labor safety amid the COVID-19 pandemic. To recover the losses created by the decline in demand for various products, the companies are capitalizing on the escalating demand for products such as disinfectants and personal protective equipment. Many leading players in the chemical industry have expanded their business to enter into the production of safety products. Companies are resorting to advanced technologies in production to reduce the dependence on work-force.
They are increasingly adopting advanced digital capabilities to integrate supply chain and logistics to ensure the effective delivery of products. The industry heads are seeking the real-time situation of their supply chains to identify potential weaknesses, especially in terms of geography, and strengthen it. The financial disclosures are being extended beyond the usual financial statements to deal with the risks that have aroused amid the COVID-19 pandemic.
Persistence Market Research (PMR) has released a new market study on the Polyisoprene Latex market that involves global industry analysis of historic 2014–2018 and forecast 2019–2029 with 2018 as the base year. The report offers a comprehensive analysis for a ten year forecast.
The global Polyisoprene Latex market was valued to be ~US$ 74.5 Mn in 2014, and is expected to embark upon ~US$ 105.5 Mn by the end of 2019. The global market is projected to grow at a CAGR of ~8.1% between 2019 and 2029, and is estimated to reach a global value of around US$ 231 Mn by the end of 2029.
The global Polyisoprene Latex report estimates key macroeconomics and forecast factors that are projected to drive the growth of the market. The report analyzes factors that are expected to drive the market over the forecast period as well as the restraints that are anticipated to affect the global market. The report on the Polyisoprene Latex market also discusses potential opportunities and latest trends in the global market across the value chain.
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Europe & South East Asia to be the Prominent Regions in the Global Polyisoprene Latex Market
The growth of East and South Asia isoprene rubber markets is projected by emerging economies in countries such as Thailand, Indonesia and Malaysia. East Asia has been accounted as the leading region in the global Polyisoprene Latex market in terms of overall consumption as well as the production hub. Growing healthcare industry and increasing concerns about the safety in the industry are the key drivers for the growth of the demand for polyisoprene latex from medical end use. China led the East Asia isoprene rubber market, with a large share in terms of both value and volume. In Terms of end use, Europe also poses as a significant market which has been estimated to account over 20% of the overall market and has been ranked as the 2nd major market following East and South Asia.
Increasing industrial developments in the regions along with the increasing per capita healthcare spending amongst the population in East Asia, is expected to push the growth in demand for polyisoprene latex form various applications including medical gloves, condoms, catheters, medical balloons, and adhesives amongst others. Growing awareness about the advantages of using polyisoprene latex products is expected to support strong growth in the region.
Medical Gloves to Consume Major share of the Overall demand of Polyisoprene Latex
On the basis of end use of polyisoprene latex market, the medical segment is expected to hold leading value shares of the global polyisoprene latex market. Which can be attributed to the increasing consumption of polyisoprene latex in various products manufacturing for medical applications.
By application, the medical gloves segment of polyisoprene latex market is projected to hold a majority share in the global polyisoprene latex market. Growing acceptance of polyisoprene latex in various applications in the medical industry due to its favorable properties and
safety features has been observed across the geographies. Increasing cases of allergies by use of natural rubber latex products is pushing its replacement by polyisoprene latex products in healthcare industry. Condom application is projected to grow at a significant rate during the forecast period, owing to increasing demand for polyisoprene latex condoms across the geographies.
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