The global isosorbide market is expected to reach USD 703.1 million by 2025, according to a new report by Grand View Research, Inc. Favorable government regulations associated with environmental-friendly products coupled with increasing construction and manufacturing activities are expected to play a major role in product demand over the forecast period.
Growing concern for environmental pollution has led various enterprises to switch to renewable resource based products. Owing to its enhanced eco-friendly nature than other synthetic products, it is expected to gain significant growth as a substitute in a diverse range of packaging and medical applications.
Surging demand for bio-based bulk plastics is expected to drive PEIT volume demand by 33% by 2025.The application segment is anticipated to emerge as the fastest market both in terms of volume and revenue in next nine years.
Owing to its enhanced optical properties, better UV resistance, and surface hardness, isosorbide-based polycarbonate is expected to gain significant growth over petroleum based polycarbonate. Growing environmental concern over bisphenol A (BPA) in food & beverage sectors is expected to drive replacement of BPA demand for eco-friendly polycarbonate products.
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Further key findings from the reportsuggest:
The global isosorbide market demand was over 32 kilo tons in 2015 and is expected to grow at an estimated CAGR of 10.9% from 2016 to 2025
Resins and polymers were the leading application segment with demand share exceeding 60% in 2015
The growing product demand as a key platform chemical for developing various cyclic molecules and polymers may be attributed to the high growth in this segment over the forecast period
Additives have shown ample prospects to be used as a bio-based intermediate in plasticizers, which is estimated to raise the isosorbide demand to over 14.5 kilo tons by 2025 in this segment
Asia Pacific isosorbide market dominated the global market and accounted for over 30% of total volume in 2015
Central & South America is expected to grow at a CAGR of 10.4% in terms of volume
The favorable policies framed by government organizations for using bio-based products in automobile components are expected to increase PEIT demand in Central & South America
Major players operating in the global isosorbide industry include Roquette Freres, Jinan Hongbaifeng, Cargill, Novaphene, Ecogreen Oleochemicals GmbH, Mitsubishi, SK Chemical, Par Pharmaceutical, and JP Laboratories
Grand View Research has segmented the global isosorbide market on the basis of application, end-use and region:
Global Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
Polyethylene Isosorbide Terephthalate (PEIT)
Polyester Polyisosorbide Succinate
Global End-Use Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
Resins & Polymers
Regional Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
Middle East and Africa
Central & South America
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