The global Isosorbide Market size is expected to value at USD 703.1 million by 2025. The isosorbide industry is subject to witness a substantial growth due to the growing construction and manufacturing activities, and favorable government initiatives. Development of the eco-friendly products are expected to fuel market demand for isosorbide in the upcoming years. Globally, the isosorbide market is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest in research and development of the market.
Mononitrate and dinitrate, which are byproducts of the isosorbide, are largely utilized in various pharmaceutical & medicine application, thereby fostering market growth in the upcoming years. Rapid expansion of the bio-plastics industry and shifting trend towards bio-based products are anticipated to drive market growth in the upcoming years.
Additionally, increasing demand of bio-based polyethylene terephthalate (PET) from European and Asia Pacific region is considered as one of the major driving factor for market expansion in the recent years. In addition, growing manufacturing and construction activities from BRICS economies such as Brazil, Russia, India, China, India, and South Africa are expected to boost market demand for isosorbide over the forecast period.
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Increased manufacturing rate and lowered production cost, particularly in the Asia Pacific region are projected to stimulate the growth of isosorbide industry over the forecast period. Bio-based plastic are gaining traction from food & packaging sector, in the recent years. The recent technological advancement in the manufacturing sector coupled with development of novel products such as isosorbide ethers, isosorbide esters, isosorbide nitrates, isosorbid and isosorbidephosphates are bolstering market expansion in the last few years. In addition, declined cost of raw material and availability of skilled labor force are anticipated to offer lucrative growth opportunities for industry participants in the near future.
Increasing funding by government as well as private bodies for research & development of advanced functional polymers along with introduction of isosorbide as a monomer or additive is predicted to positively affect market growth in upcoming years. Numerous laws & regulation in regards to excessive use of synthetic polymers has led to early adoption of bio-based products thus escalating market growth further. Moreover, increase in the number of government initiatives to promote biotechnology and use of eco-friendly raw materials are expected to amplify the market value of isosorbide.
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Resins and polymers are considered as one of the fastest growing segment in the isosorbide market with substantial revenue generation in the last couple of years. Growing popularity of the resins and polymers market segment is attributed to shifting consumer preferences towards bio-based products in polymers and plastics sector. In addition, lower cost of the products and abundant availability of raw materials are driving market demand of the resins and polymers market segment.
Iosorbide commonly occurs as a white-colored, crystalline, highly hydrophilic solid. Iosorbide possess V-shaped bicyclic structure. The two secondary hydroxyl group present in the Iosorbide offer differential structure orientation, thus providing it with variable chemical reactivity. Such properties provide a selective mono-derivatization of isosorbide. These properties makes isosorbide the monomeric units for novel polymers. These factors are anticipated boost market growth of isosorbide over the forecast period.
The isosorbide industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in chemical industry, shifting trend towards bio-based products, and existence of well-established industrial infrastructure in the region. Asia-Pacific region is predicted to hold major market share in the isosorbide market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with rapid industrialization, strong economic growth, rising demand for bioplastics and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the isosorbide industry are Roquette Frères S.A., Jinan Hongbaifeng Industry And Trade Co., Ltd., EcogreenOleochemicals Pte., Ltd., Cargill Inc., NovapheneSpecialities Pvt., Ltd., Mitsubishi Motors Co., J.P. Laboratories Pvt., Ltd., S.K. Chemical Co., Ltd., and Par Pharmaceutical Inc.