Latin America Isoprene Market 2023-2030

Latin America Isoprene Market 2023-2030

Market Outlook

Triton Market Research’s report suggests that the isoprene market in Latin America is deemed to advance in value and volume at a CAGR of 6.02% and 3.56% during the forecast period 2023-2030. Brazil, Mexico, and Rest of Latin America are studied in the region.

Brazil’s isoprene market is primarily fueled by increased trade in isoprene products and the expansion of manufacturing plants. According to industry sources, around 42 importers in Brazil bought 3.6K shipments of isoprene rubber from suppliers. The main sources of isoprene rubber imported to Brazil are China, Russia, and the US. Further, the growing medical industry is expected to increase the demand for isoprene grades, thereby opening avenues for the studied market.

On the other hand, in 2021, Mexico emerged as the 20th largest rubber importer worldwide, with imports totaling around $217 million. In the same period, rubber was one of the most imported goods across the nation. The nation imports most of its rubber from nations such as Guatemala, Indonesia, the United States, Thailand, and Vietnam. Therefore, the growing imports are estimated to create opportunities for isoprene suppliers and manufacturers.
Competitive Outlook
The notable companies in the isoprene market include Shell Plc, Kuraray Co Ltd, Chevron Phillips Chemical Company LLC, JSR Corporation, and Braskem.