The global isosorbide market size is expected to reach USD 703.1 million by 2025, according to a new report by Grand View Research, Inc., registering a CAGR of 8.5% during the forecast period. Rising health and environmental concerns regarding use of synthetic products, such as petroleum derived products, is estimated to fuel demand over the coming years.
Rising capacity of bio-based plastics in Asia Pacific, strong regulatory support for bio-based products, and stable demand from additives industry are the factors estimated to boost product demand in future. However, isosorbide made from starch is an eco-friendly option to synthetic polymers and this is a key trend estimated to continue influencing demand over the next few years.
Traditionally, Asia Pacific emerged as a dominant regional market owing to low raw material and labor cost. In addition, growing focus of the chemical industry on bio-based products is estimated to fuel market growth over the forecast period. Moreover, isosorbide has been identified as an emerging bio-based platform chemical by the U.S. Department of Energy.
Major chemical companies such as Mitsubishi Chemicals and SK Chemicals have been focusing on production of polymers based on isosorbide. Further, market players are concentrating on expansion of business across the globe to gain high market share in the global industry. Extensive R&D in the field and requirement to develop product differentiation leads to high levels of competition in the market.
Further key findings from the report suggest:
- The PEIT segment dominated overall market in 2018 and is estimated to expand at a CAGR of 9.7% in the projected period owing to enhanced heat resilience
- Polyurethane and PIS are the fastest growing applications and are projected to exhibit a CAGR of 7.9% and 8.8% respectively owing to properties like low polydispersity, high thermal stability, and glass transition temperature
- Resins and polymers remained the leading end-use industry owing to increasing interest of polymer industries in bio-based products and the presence of key manufacturers
- Additives are estimated to expand at the fastest pace with a revenue-based CAGR of 9.2% over the forecast period owing to strict policy regarding toxic nature of BPA and rising concern regarding toxic impacts of synthetic chemicals along with commercialization of bio-based isosorbide
- France-based Roquette has been investing heavily in developing and commercializing isosorbide on a large scale and also tied up with Mitsubishi Chemicals to manufacture polycarbonate using isosorbide.
Grand View Research has segmented the global isosorbide market on the basis of application, end use, and region:
Isosorbide Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
- Polyethylene Isosorbide Terephthalate (PEIT)
- Polycarbonate
- Polyurethane
- Polyester Polyisosorbide
- Isosorbide Diesters
- Others
Isosorbide End-use Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
- Resins & Polymers
- Additives
- Others
Isosorbide Region Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
- North America
- US.
- Europe
- Germany
- UK.
- France
- Asia Pacific
- China
- India
- Japan
- Central & South America
- Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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