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.

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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.

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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.

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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.

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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.

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