Introducing Latest Industry Isoprene Rubber Latex Market 2019 – 2025
According to a new research report
by Global Market Insights, Inc. Isoprene Rubber Latex (IRL) Market size will
likely surpass USD 340 million by 2025. Increasing demand for condoms worldwide
will be the prime factor contributing towards the growth of isoprene rubber
latex (IRL) market share over the forecast timeframe. This product is
essentially used to manufacture condoms and several other thin-walled elastic
products for both health care industries and consumers. Developing nations like
China, India and Brazil have been experiencing a sturdy rise in the use of
condoms from the past few years.
The growth can be majorly
attributed to the rising awareness pertaining to sexually transmitted diseases
among people, along with the numerous initiatives taken by the government and
other organizations to curb the booming population. The global condom market
will observe a growth of over 7% CAGR and will be valued at around USD 11
billion by the year 2025.
Surge in the demand for condoms
will be directly proportional to the consumption of IRL as over 60% of condoms
are made from latex. Latex condoms are known for their excellent elastic,
elongated, strong and soft characteristics. Rise in the production of condoms
will propel the consumption of the product and bolster IRL industry size over
the analysis time period.
IRL is widely used to manufacture
medical supplies like tube, gloves, connectors, catheters, among others. The
revenue for the healthcare industry had been recorded at over 1.5 trillion in
the year 2017 and has been anticipated to witness further rise in the near
future. This will later bolster the demand for medical supplies and gradually
strengthen isoprene rubber latex market forecast.
Medical catheters, adhesives,
condoms, and medical gloves are the main applications areas in isoprene rubber
latex industry. The segment for medical glove will hold a significant share
over the study time period. Condoms happen to be the main application for IRL
and the segment will register gains at more than 6% CAGR between 2018-2025.
Browse Complete Summary of this
report @ https://www.gminsights.com/industry-analysis/isoprene-rubber-latex-irl-market
The end-user segment in isoprene
rubber latex industry consists of industrial, consumer and medical products.
Among these, medical end-user had held a large share of the IRL market and
garnered a revenue surpassing USD 150 million in 2017. On the other hand,
consumer product segment will account for around USD 50 million of total
isoprene rubber latex industry share by 2025.
Asia Pacific isoprene rubber latex
market share will depict a substantial demand from condoms segment in the
forthcoming years owing to the booming population as well as the surge in
incidences of Sexually Transmitted Diseases (STD). The global population had
accounted for nearly 7.6 billion in the year 2018, in which China owned the
majority share of 1.4 billion.
This was followed by India with
1.3 billion people. Several initiatives and steps have been taken by the
government of these countries to curb the population by promoting the uses of
contraceptives. Malaysia and China happen to be the main countries that
manufacture condoms in the Asia Pacific region. Malaysia’s Karex is one of the
largest manufacturing firms to make condoms.
The company has produced around 5
billion condoms in the year 2015 and had accounted for over 15% of the overall
global production. Substantial rate of production of the condoms in the Asia
pacific region will boost APAC isoprene rubber latex market trends over the
projected time period.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in
Delaware, U.S., is a global market research and consulting service provider;
offering syndicated and custom research reports along with growth consulting
services. Our business intelligence and industry research reports offer clients
with penetrative insights and actionable market data specially designed and
presented to aid strategic decision making. These exhaustive reports are
designed via a proprietary research methodology and are available for key
industries such as chemicals, advanced materials, technology, renewable energy
and biotechnology.
Contact Us
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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Email: sales@gminsights.com
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Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1 888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Connect with us twitter | LinkedIn | Facebook | Google+
Introducing Latest Industry Isoprene Rubber Latex Market 2019 – 2025
Reviewed by GMI
on
November 11, 2019
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