|Base Year Market Size
|USD XX Billion
|Forecast Year Market Size
|USD XX Billion
|Fastest Growing Market
The isosorbide market size was valued at USD 589.5 million in 2022. It is projected to reach USD 1,712 million by 2031, growing with a CAGR of 12.58% during the forecast period (2023–2031). rising demand for bioplastics is projected to boost the Isosorbide market growth
Isosorbide is a white heterocyclic solid compound produced from bio-based feedstock such as glucose and sorbitol, a simple sugar obtained from the enzymatic hydrolysis of starch. It is used in the form of polymers such as polycarbonates and polyesters. The major application of products comprises biodegradable plastics, elastomers used in liquid crystal displays, pharmacies, chemicals, and fodder, among others. Biodegradable plastics and pharmaceuticals hold the largest share of this market owing to the rise in demand in the plastics industry.
Increasing investments and funding from the government in the manufacturing sector due to the rising demand from additives, cosmetics, pharmaceuticals, food and beverages, packaging, and polymers and resin sectors will push the market at a high level since it improves the properties of the final product. Furthermore, the growing demand for noncarbonated beverages, advancements in new technology, and the increase in disposable income may raise the global isosorbide market demand and its application. Rapid industrialization and increasing population, with low raw material and labor costs in emerging countries such as China, Japan, and India, are the key factors for the global isosorbide market growth.
Isosorbide generated from starch is a sustainable substitute for synthetic polymers. This factor is anticipated to have a beneficial impact on product demand. Increasing demand for bioplastics is projected to boost the market growth. The initiatives taken by the United States Department of Agriculture to encourage ecologically friendly products are projected to increase the overall demand for bioplastics. Various government initiatives and regulatory support are likely to promote environmentally friendly chemical production. Globally, epoxy resins made from isosorbide are gaining appeal in the biomedical industry, medication delivery devices, bone cement, and coatings. In addition, isosorbide-produced polycarbonate has uses in the electronic, construction, security, and automotive industries. In Europe, for instance, Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH) provides an opportunity for makers of bio-based/green products to create and promote environmentally sustainable bio-based/green alternatives.
Isosorbide is made from plant feedstocks that can be renewed annually using a process that involves consecutive hydrolysis and hydrogenation steps. Hydrolysis turns plant starches into glucose, which is then transformed into sorbitol; the final step is the hydrogenation of sorbitol to isosorbide. Over the past two decades, the production technology for isosorbide has been optimized to reduce carbon footprint and maintain high levels of purity. In order to minimize waste emissions during the production of isosorbide, producers in the sector are employing waste recycling strategies. In the next years, these advancements are anticipated to cut production costs and create growth prospects for manufacturers.
The high cost of generating isosorbide and biodegradable polymers is one of the primary impediments to market growth. Nonetheless, technological advancements and rising bioplastics expenditures are anticipated to drive market growth over the projection period. In addition, the adverse health effects of isosorbide derivatives are anticipated to impede the market's expansion.
Geographically, the global isosorbide market is segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Asia Pacific isosorbide market is likely to become a dominant region due to growing population and rising industrialization in various economies such as China, India, Japan, and South Korea. Due to the growth in the bio-plastic industry, mostly in China with a low-cost raw material with low labor cost, in turn upsurges the isosorbide industry in the forecast period. The major big key players from the different regions are shifting their manufacturing bases to low-cost countries such as China, India, Thailand, and Indonesia. The growing demand for sustainable and recyclable materials such as PEIT, which is produced from the main product, is leading in Asia-Pacific due to its excellent capacity-to-weight ratio. Furthermore, it is used in most packaging materials, such as bottles and containers, because of it is easy-to-handle nature, durability, reliability, and lightweight.
North American region is expected to witness significant growth in the isosorbide market due to rising demand for beverages and dairy products, increasing demand for processed foods, high demand for non-alcoholic drinks and fortified beverages rising health awareness, demographic changes, greater consumer confidence, and greater demand from emerging countries. Both ethylene glycol and terephthalic acid are fundamentally petrochemical feedstocks; PET is a copolyester of these two. Replacing a portion of ethylene glycol with isosorbide creates polyethylene co-isosorbide terephthalate (PEIT). The increased thermal characteristics of Semi-crystalline PEIT (PEITsc) are helpful for both hot filling and pasteurization in beverage packaging. With a hot filling, vegetable and fruit juices, water, teas, and other soft drinks are heated and filled at a high temperature to sterilize the bottle and closing system; pasteurization is an alternate preservation method for beverages like beer. PEITsc eliminates the requirement for a vacuum panel, enhancing design freedom. These applications are propelling the regional market.
Europe is likely to emerge as the third largest isosorbide market owing to the growing demand for sustainable and recyclable materials. The product can be produced from sorbitol which is produced from sucrose or glucose and is widely used in food applications in the Europe region. Isosorbide is an important platform chemical for eventually replacing products derived from fossil resources. Possibilities exist for usage as monomers and building blocks for new polymers and functional materials, novel organic solvents, medicinal and pharmaceutical applications, and even as fuels or fuel additives. All these applications are driving the market for isosorbide in Europe. To combat environmental deterioration and climate change, the European Union has launched The European Green Deal, a strategy to create a sustainable economy within the EU. The EU intends to be carbon-neutral by 2050. Reaching this objective would necessitate effort from all sectors of our economy; therefore, the bioeconomy and bioenergy are crucial components. The bioeconomy focuses on decreasing dependence on finite fossil-based resources. Consequently, there is a growing need for eco-friendly methods and products.
Latin America is also expected to grow the isosorbide market in the foreseen period, in terms of volume, in countries such as Brazil and Colombia. The market in the Middle East and Africa is expected to witness stable growth in the food sector due to increasing demand for processed foods, high demand for non-alcoholic drinks and fortified beverages, rising health awareness, and demographic changes.
|Roquette Freres Jinan Hongbaifeng Ecogreen Oleochemicals Cargill Novaphene Mitsubishi JP Laboratories SK Chemical Par Pharmaceutical
|U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
|China Korea Japan India Australia Taiwan South East Asia Rest of Asia-Pacific
|Middle East and Africa
|UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
|Brazil Mexico Argentina Chile Colombia Rest of LATAM
|Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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The global isosorbide market is segmented by application and end-use.
Based on application, the market is segmented into polyethylene isosorbide terephthalate, polycarbonate, polyester polyisosorbide succinate, polyurethane, isosorbide diesters, and others.
The polyethylene isosorbide terephthalate (PEIT) segment is likely to continue its dominance throughout the market's forecast period owing to its attractive appearance, strength, rigidity, recyclability, and high resistance to stress and strain to the films and bottles. The polyurethane segment is another key application expected to grow in the isosorbide market at the highest CAGR due to its use in composites or coatings as part of the polyol phase can be easily molded or cast into a film at ambient conditions. Such higher growth can be attributed to its chemical characteristics such as low polydispersity and eminent thermal stability. Additionally, polyester polyisosorbide succinate is one more growing application in recent years due to its properties, such as molecular weights and glass transition temperatures which are suitable for thermosetting powder coating applications.
Based on end use, the market is segmented into resins & polymers, additives, and others.
Polymers and resins are expected to be the highest-growing sector, as they have high thermal stability and are easily available from renewable raw materials. Such properties make the product a monomer for thermoplastic polymers as well as thermosets. It is a versatile chemical derived from renewable feedstock that is now also available in industrial quantities. The use of the product as a comonomer in (PET) as a bottle raw material and as a substitute for bisphenol A. Manufacturers from different region use products in resins & polymers to enhance the optical properties and improve their hydrolytic stability and tensile strength.