The global isosorbide market size is poised to reach around US$ 650.2 million by 2026 and growing at remarkable CAGR of 8.6% during the forecast time frame 2019 to 2026.
Isosorbide has the ability to substitute several synthetic polymers and derives from the bio-based feedstock. In order for synthetic plastics to be replaced by bio-based plastics, capacities have been added. In recent years, this trend has acquired importance with increased environmental concerns about the toxicity of synthetic materials and shift customer preference to green options. The continuous supply of important raw materials due to their overlapping with other essential applications, that has hampered the producers' profit margins, has been a significant impact of the isosorbid market.
The report provides analysis of global Isosorbide market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.
Critical considerations for the market are the growing demand from the cosmetics and pharmaceutical sectors, the increasing bioplastics market and the increasing use in elastomers and polymers. Another projected beneficial effect on the development of the economy is an increase in consumer environmental awareness about sustainability and technological developments in this area. In addition, a changing customer preference to bioplastics is projected to increase market development in the next few years, fostered by increasing awareness of green product usage.
Raw material is procured through agreements of manufacturing with farmers in areas where processing facilities are situated. For different end-use applications, Roquette is involved in producing starch, isosorbide as well as biopolymers based on isosorbide. The continuing supply of important raw materials is a big result of the isosorbid market due to the overlapping of other essential applications, which has obstructed producers profit margins. The new use of isosorbids in PET, polycarbonate and polyurethane was nevertheless seen as an important way for production companies to grow. Recently, in its new plant in Lestrem, France, Roquette announced the start of manufacturing of isosorbides at an annual manufacturing capability of 20 kilograms. Bioplastics market growth combined with technical development and regulatory support will probably lead to producers increasing the manufacturing ability of isosorbide. Copolymerized to improve the polymer resistance and form PEIT with polyethylene terenphthalate (PET) & ethylene glycol. It is used in the thermoplastics market, which requires high temperature efficiency, including rigid containers and bottles for thermal filling applications to support the development of the sector.
In the coming years, the high potential of isosorbide as a substitute for synthetic intermediates is expected to increase product demand. Isosorbide may also be used in plastics produced from polycarbonates to replace bisphenol-A (BPA). The isosorbide diesters is used in polymers such as PVC and has outstanding plasticisation and replacement potential in the coming years.
However, adverse health effects of isosorbid derivatives are estimated to impair over the predicted period, including irregular heart rate, serious headache and angina pain. The focus on BIC is projected to generate fresh possibilities for market growth over the forecan era, resulting in elevated investments in research & development and product innovation with environmentally friendly characteristics. In addition, it is estimated that the change in trend towards the replacement of synthetic oil plastics will increase future legislative developments in isosorbides. Isosorbide was recognized by the Energy Department of United States as an evolving bio-based chemical platform. A significant challenge, estimated to increase market growth in the next years, is the supply of raw material at viable costs. Maize, wheat, sorbitol, and vegetables are the raw materials used in the production of isosorbid.
The worldwide market for isosorbids is classified according to applications as terephthalate polyethylene isosorbide (PEIT), policarbonate, polyurethane, succinate polyester polyisosorbide and diesters of isosorbid. Increased heat resilience, elevated food and beverage demand, and increasing possibilities in the pharmaceutical industry led the PEIT sector to dominate the market. Moreover, a growing awareness and greater achievement rate is projected in the future to boost global industrial demand for this implementation and the chemical industry's concentrate increasingly on bio-based produce. High demand from sectors such as electronics, medical devices and automotive is boosting the global market growth. For example: with effective pilot scale crops of isosorbid polycarbonate, Roquette increased its manufacturing scale.
Polyurethane-based isosorbids have features such as elevated thermal stability and low polydispersibility. PIS has characteristics, for powder coating applications, such as glass transition temperature and molecular weight.
Resins and polymers, additives, and other such sectors as the pharmaceutical and medical sectors are key end-use sectors covered. The leading end-use segment in 2018 stayed resins and polymers. There is a growing interest in bio-based goods in the polymer industry behind global industry development. In the forecast period additives are projected to expand at a fastest rate and record a highest CAGR. There is a strong policy on toxic BPA policies and increased concern for the toxic effects of synthetic chemical substances and the marketing of biobased isosorbides behind general industry development.
In the coming era, other end use sectors such as the medical and pharmaceutical sectors are expected to grow in a substantial CAGR. Due to their improved biodegradation skills, isosorbide-derived epoxy resins will become significantly important in biomedical applications, drug supply systems, bone cement as well as layers over the predicted era.
Over the projected period, Asia Pacific represented the largest market share in 2018, with the most CAGR. This is primarily due to the low raw materials and labor cost, the reason for global market growth is the increase in demand for bio-plastics. For example, significant chemical businesses and biotechnology firms like Roquette have shifted their production bases towards low-cost nations like China, India, Thailand and Indonesia.
The use of petroleum plastics is also anticipated to lead to significant CAGR growth in Europe. Promising regulatory schemes to promote viable chemistry are one of Europe's main market drivers. An increasing demand from North America is projected to drive demand for biologically based polymers, such as PET, polycarbonate and Polyurethane made of isosorbid. As a result of its quickly increasing demand, ADM from the US, one of the world's leading food-processing firms, has developed isosorbide.
Extensive R&D activities will increase PEIT demand. The implementation of polyethylene isosorbide enhances its rigidity and strength, according to studies conducted under the Iowa maize promotion board. Increasing focus on bio-based chemicals leads to large investments of environmental friendly characteristics in research and growth and product innovation. Over the era estimated to develop at a profitable rate in the rest of the globe, including Central and Southern America, Middle East and Africa. Brazil is one of the world's biggest maize manufacturers with one of the world's top five. In addition, many organic plastic producers are paying close attention to the fact that maize is one of the fundamental raw materials for the production of isosorbides and bio-plastics.
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The market research study on “Isosorbide Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global isosorbide market segments with market dynamics and their impact. The report also covers basic technology development policies.
Key Players & Strategies
The isosorbide market consists of major vendors such as Mitsubishi Chemical, Genomatica, Novaphene, Novomer, Roquette Frères, SK Chemical, Cargill, Tate and Lyle, BioAmber, DuPont Archer Daniels Midland, and Par Pharmaceutical.
The companies are focusing on worldwide development to obtain a large market share in the worldwide sector. These main players are engaged in the growth of biological construction blocks to replace standard chemicals on the platform.