Isosorbide market is projected to be around $605.71 billion by 2022

From: crystal market research
Published: Wed Nov 22 2017


The Latest Comprehensive Industry research study titled, "Isosorbide Market by Products, Application - Global Industry Analysis and Forecast To 2022" published by Crystal Market Research, states that the isosorbide market is projected to be around $605.71 billion by 2022.

The isosorbide market was evaluated around USD 271.32 million in 2014 and is anticipated to reach approximately USD 605.71 billion by the end of 2022 with a compound annual growth rate (CAGR) of 9.18% during the forecast period, owing to the growing demand for substituting fossil fuel by-products in applications like polymers, monomers, functional materials, and solvents. Isosorbide by-products such as dinitrate and mononitrate find its uses primarily in medical and pharmaceutical which is expected to augment the growth of the global market during the forecast years. The demand of the product is mainly fueled by currently expanding the capacity of the bio-plastic industry. Due to rising demand of bio-based PET in Asia Pacific and Europe, PEIT is likely to direct the application section during the approaching years. Asia Pacific region holds the major share, on account of growing construction and manufacturing activities from India, China, as well as few other Southeast Asian nations. Bio-based plastics production capacities in China region have experienced improved usage rate during the precedent years. This can be assigned to low labor cost and raw material. Constant study on isosorbide usage in functional polymers has turn out to be productive and ensued as a few companies embracing its application methods as an additive or monomer. Rising ecological concern about the utilization of synthetic polymers has encouraged the EPA to enforce strict regulations, which consecutively has recommended the top polymer and biotechnological companies to expand innovative technology using recyclable raw materials.

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Key Market Players:

Par Pharmaceutical
Jinan Hongbaifeng Industry And Trade Co. Ltd.
Ecogreen Oleochemicals
Roquette Freres
Novaphene
JP Laboratories
Mitsubishi corporation
SK Chemicals Co. Ltd.
Cargill.

Globally, Isosorbide has been consumed and produced in small amounts for a long period, but latest technological advancements in the market have been encouraging its use in an extensive variety of applications. It has application in a range of polymers like polycarbonate, polyethylene, plasticizers, and polyurethane. The key application is copolymerization along with polyethylene terephthalate (PET) to improve the polymer strength. PEIT observes major use in beverage & food packaging. Few of the other uses involve pharmaceuticals, personal care products, and industrial solvents. In the healthcare sector, it is employed to treat angina pectoris, glaucoma, and hydrocephalus. The demand of Isosorbide for production of PEIT was around 9.2-kilo tons during 2015. Polyurethane manufacturing was another key application that is expected to grow at a compound annual growth rate of around 9% during the forecast years. Such elevated growth can be credited to its chemical characteristics such as low polydispersity and eminent thermal stability. It can be also used in the manufacturing of biocompatible coatings and foams. Confirmed isosorbide prospective in polyurethanes and constant research along with hard work on eco-friendly alternative is likely to fuel the global isosorbide market. Further, Polyester polyisosorbide succinate is one more rising application that reported for 12% of the overall demand in the year 2015. It has application in toners, powder coatings, and ink.

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In 2015, Asia Pacific region emerged as the top customer as reporting for around 34% of the overall volume. It is also anticipated to be the top-growing region during the forecast period. The rising bioplastics demand primarily in China is likely to act as a major driving factor for product demand during the approaching years. Key biotechnology and chemical companies like Roquette Freres have been transferring their production bases to low-cost nations like India, China, Indonesia, and Thailand. In 2015, the demand for Product in Europe was esteemed around USD 77 million. The rising demand for bio-based plastics in the emerging countries of Europe is likely to act positively over the forthcoming years. Encouraging regulatory scenario, boosting sustainable alchemy is projected to be the major market driving factors over the coming years. North American region emerged as the 3rd top customer and is anticipated to grow at a compound annual growth rate of 11.1% during the next few years. Growing demand for bio-based product together with technological advancements in the region is likely to act as a key driving factor for industry growth during the next few years.
The global isosorbide market is segmented as follows
By Application
Polyethylene Isosorbide Terephthalate (PEIT)
Polycarbonate
Polyurethane
Polyester Polyisosorbide Succinate
Isosorbide Diesters
Others
By End User
Resins & Polymers
Additives
Others

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