Global isosorbide market was worth USD 396.4 million in 2018. It is projected to grow at an 8.5% compound annual growth rate (CAGR), from 2019 to 2025. There are two types of isosorbide available commercially: technical and polymer. The market is expected to grow due to rising demand from the pharmaceutical and cosmetic industries as well as a growing market for bioplastics.
Market growth will be boosted by rising environmental awareness and technological advances in sustainability. Market growth will be boosted by a shift in consumer preference to bioplastics due to rising awareness about green products.
In the U.S., the PEIT segment accounted for over 25% of the market in 2018, and is expected to grow at a high rate during the forecast period. The strict EPA regulations in the U.S. will likely increase the demand for isosorbide. The second largest segment is. It is expected to grow at a CAGR close to 10.0% by 2025 due to its enhanced optical properties. The fastest growing segment is expected to be polyester polyisosorbide succinate, (PIS).
Side-effects such as angina pain, irregular heart beat, severe headaches, and severe headaches from isosorbide derivatives are expected to limit overall market growth during the forecast period. The forecast period will see new market opportunities due to the increased focus on bio-based chemical products.
A shift towards petroleum-based synthetic plastics will likely boost isosorbide's regulatory trends in the future. The U.S. Department of Energy has identified isosorbide as a new bio-based platform chemical. The market growth will be accelerated by ensuring that raw material supplies are available at a reasonable cost. The raw materials for making isosorbide include corn, wheat and sorbitol.
The market for isosorbide is classified based on its application to polyethylene isosorbide (PEIT), polycarbonate polyurethane and polyester polyisosorbide succinate. With over 25% of the market's total market share in 2018, the PEIT segment was dominant. It is expected to grow at 9.7% CAGR during the forecast period due to increased heat resistance, high demand from the food & drink industry and growth opportunities within the pharma industries.
Due to stringent rules on plastic disposal and usage, the Asia Pacific PEIT segment is expected to grow at 11.6% CAGR over the forecast period. The future will see increased industrial demand due to the increasing awareness of this application, higher success rates and a greater focus on bio-based products by the chemical industry.
Polycarbonate accounted for over 16.0% of 2018's total market. It followed the PEIT application. A high demand from the automotive, electronic and medical industries is what drives overall market growth. Roquette, for example, has increased its production capacity by setting up pilot-scale plants for isosorbide polycarbonate. PIS and polyurethane are the fastest-growing applications, with a projected CAGR of 7.9% & 8.8%, respectively.
The properties of polyurethane-based isosorbide include low polydispersity, high thermal stability, and low levels of polydispersity. PIS, on the other hand, has glass transition temperature and molecular mass that are suitable for powder coating applications. Isosorbide-diesters accounted for more than 8.5% of the market in 2018, thanks to their excellent plasticizing capabilities.
The major end-use industries covered include resins and polymers and additives. The largest end-use segment, resins and polymers, accounted for more than 60.0% of total market demand in 2018. Sector growth can be attributed to the growing interest in bio-based polymer products by polymer industries. Some prominent players, such as Mitsubishi Chemicals or SK Chemicals, have focused on the production polymers based upon isosorbide. This segment is expected to see a 9.0% revenue-based CAGR over the forecast period.
The fastest growing sector is additives, with a 9.2% CAGR in terms of revenue for the forecast period. Sector growth can be attributed to a strict policy regarding BPA's toxic effects and growing concern about the toxic effects of synthetic chemicals, as well as the commercialization bio-based isosorbide.
The future growth rate for other end-use industries, such as medical and pharmaceutical, is 7.8%. Due to their superior biodegradability, epoxy resins derived from isosorbide are expected to be of significant use in biomedical applications as well as drug delivery systems, bone cement, and coatings.
Asia Pacific was the global market leader in 2018, accounting for 10.4% of the total projected growth. Due to the low labor and raw material costs, overall market growth can be attributed to rising demand for bioplastics, mainly in China. Roquette, for example, is one of the largest biotechnology and chemical companies. They have moved their manufacturing facilities to low-cost locations like China, India and Thailand.
Europe accounted for 25.59%, followed by Asia Pacific. This is due to the environmental hazards posed by the use petroleum-derived plastics. Europe's promising regulatory schemes that promote sustainable chemistry are a key market driver. Due to high demand for biobased plastics, Germany, France and the U.K. are the top product consumers in the region.
North America was the third largest consumer. The forecast period will see a rise in demand for bio-based plastics such as polycarbonate and PET. ADM, a U.S.-based food processing company, has been developing isosorbide in response to the rapidly increasing demand.
The forecast period predicts that the rest of the world, including Central and South America, the Middle East, and Africa will grow at a rapid pace. Brazil is the world's largest producer of corn/maize, and it is also one of the top five global maize producers. It is also attracting the attention of bio-plastic manufacturing firms, since maize is the raw material for making isosorbide, and other bio-plastics.
Roquette Freres and Archer Daniels Midland are prominent players in this market. To gain a large market share in global markets, these companies are focusing on expanding their business.
These are the key players involved in the development bio-based building blocks, which can be used as a replacement for traditional platform chemicals. These building blocks have been commercially developed by a variety of companies, including Tate and Lyle and Novomer, BioAmber and Genomatica.
Roquette is the largest producer and distributor of isosorbide. It is found throughout the value chain. Roquette produces starch, isosorbide as well as biopolymers. Major product distributors include Shangai Trustin Chemical Co. Ltd. Roquette sells bio-based isosorbide derivatives, under the brand Polysorb. The isosorbide market has some prominent players like:
Roquette Freres
Archer Daniels Midland
Cargill
Novaphene
Mitsubishi Chemical
SK Chemical
Par Pharmaceutical
Up Market Research published a new report titled “Isosorbide Market research report which is segmented by Application (PEIT, Polyurethane, Polycarbonate), by End Use (Additives, Resins & Polymers), By Players/Companies Roquette Fr¨res, Archer Daniels Midland, Mitsubishi Chemical, Par Pharmaceutical, Cargill, SK Chemical, Novaphene”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Isosorbide Market Research Report |
By Application | PEIT, Polyurethane, Polycarbonate |
By End Use | Additives, Resins & Polymers |
By Companies | Roquette Fr¨res, Archer Daniels Midland, Mitsubishi Chemical, Par Pharmaceutical, Cargill, SK Chemical, Novaphene |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 202 |
Number of Tables & Figures | 142 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Application (PEIT, Polyurethane, Polycarbonate), by End Use (Additives, Resins & Polymers).
Isosorbide Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Isosorbide Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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