Isosorbide Market Analysis By Application (PEIT, Polycarbonate, Polyurethane, Polyester Polyisosorbide Succinate, Isosorbide Diesters), By End-Use (Resins & Polymers, Additives), Trends & Dynamics, Competitive Landscape And Forecasts, 2018 - 2025

Industry Insights

The global isosorbide market size reached USD 300 million in 2015. Growing demand for replacing fossil fuel derivatives in applications such as monomers, polymers, solvents, and functional materials is expected to drive product demand over the forecast period.

Isosorbide derivatives such as mononitrate and dinitrate find its applications mainly in pharmaceutical and medical which is anticipated to increase the market growth over the forecast period. The product demand is primarily fueled by ongoing capacity expansion in the bio-plastic industry.

U.S. isosorbide market revenue by application, 2014 - 2025 (USD Million)

Owing to growing demand for bio-based PET in Europe and Asia Pacific, PEIT is expected to lead the application segment over the forthcoming years. Asia Pacific holds the largest share, owing to increasing manufacturing and construction activities from China, India, and other Southeast Asian countries.

Bio-based plastics manufacturing capacities in China have witnessed enhanced utilization rate over the past few years. This factor can be attributed to low raw material and labor cost.Incessant research on isosorbide applications in functional polymers has been prolific and has resulted in some companies adopting methods for its use as a monomer or additive.

Growing environmental concern regarding the use of synthetic polymers has prompted the EPA to implement stringent regulations, which in turn has urged the leading biotechnological and polymer companies to develop new technology using eco-friendly raw materials.

Application Insights

Isosorbide has been produced and consumed in small quantities globally for a long time,but recent technological developments in the industry have been promoting its utilization in a wide range of applications. It finds application in various polymers such as polyethylene, polycarbonate, polyurethane, and plasticizers.

The major application is copolymerization with polyethylene terephthalate (PET) to enhance the strength of the polymer. PEIT finds significant use in food & beverage packaging. Some of the other applications include industrial solvents, pharmaceuticals, and personal care products. In the medical sector, it is used to cure angina pectoris, hydrocephalus, and glaucoma.

Isosorbide demand for manufacturing PEIT was over 9.2 kilo tons in 2015. Polyurethane production was another major application which is anticipated to grow at a CAGR of over 9% over the forecast period. Such high growth can be attributed to its chemical properties such as high thermal stability and low polydispersity. It can be further used in the production of biocompatible foams and coatings.

Proven isosorbide potential in polyurethanes and continuous research efforts on green alternative is expected to boost the global market. Polyester polyisosorbide succinate is another growing application that accounted for over 12% of the total demand in 2015. It finds application in ink, toners, and powder coatings.

End-Use Insights

Resins and polymers are expected to be the fastest-growing segment, with several application opportunities on the horizon. Resins and polymers segment accounted for over 47% of the total revenue in 2015. The shift in trend towards bio-based products in polymers and plastics sector is expected to drive the product demand over the next few years.

Isosorbide market share by end-use, 2015

Major chemical companies such as Mitsubishi Chemicals and SK Chemicals have been focusing on the production of bio-based polymers for automotive, electrical, and electronics. Additives are an emerging avenue for isosorbide and are expected to witness the fastest growth with a CAGR of 11.5% from 2016 to 2025. Growing significance for eco-friendly polymer additives in fuels and fuel additives is anticipated to drive the segment growth over the long term.

Regional Insights

Asia Pacific emerged as the leading consumer while accounting forover 34% of the total volume in 2015. It is also expected to be the fastest-growing region over the forecast period.The growing bioplastics demand mainly in China is expected to play a major factor driving product demand over the forthcoming years. Major chemical and biotechnology companies such as Roquette have been shifting their manufacturing bases to low-cost countries such as China, India, Thailand, and Indonesia.

Product demand in Europe was valued over USD 77 million in 2015. The growing demand for bio-based plastics in the developed economies of Europe is expected to play a positive roleover the next few years. Favorable regulatory scenario, promoting sustainable chemistry is expected to be the key market driver over the forthcoming years.

North America emerged as the third major consumer and is expected to grow at a CAGR of 11.1% over the next nine years. Increasing bio-based product demand coupled with technological innovations in the region are expected to play a key role in driving industry growth over the next nine years.

Competitive Insights

Key players include Roquette Freres, Jinan Hongbaifeng, Ecogreen Oleochemicals, Cargill, Novaphene, Mitsubishi, JP Laboratories, SK Chemical, and Par Pharmaceutical. Isosorbide is currently a very niche industry and is dominated by France-based Roquette.

Other multinational companies such as SK Chemicals, and Novaphene are also expected to commercialize their product in the near future. However, the presence of large unorganized market mainly in China poses a great threat to these multinational corporations.

Isosorbide Report Scope

Segments covered in the report

This report forecasts volume & revenue growth and provides an analysis on the latest trends in each of the sub-segments from 2014 to 2025. For the purpose of this report, Grand View Research has segmented the global isosorbide market on the basis of application, end-use and region:

• Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)

  • Polyethylene Isosorbide Terephthalate (PEIT)

  • Polycarbonate

  • Polyurethane

  • Polyester Polyisosorbide Succinate

  • Isosorbide Diesters

  • Others

• End-Use Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)

  • Resins & Polymers

  • Additives

  • Others

• Regional Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)

• North America

  • U.S

• Europe

  •  Germany

  • UK

  • France

• Asia Pacific

  •  China

  • India

  • Japan

• Middle East and Africa

  • Central & South America