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Isosorbide Market Share, Size, Trends, Report and Forecast 2024-2032
Isosorbide Market
According to the report by Expert Market Research (EMR), the global isosorbide market size reached a value of about USD 557.64 million in 2023. Aided by the increasing demand from downstream application sectors and the growing role of isosorbide as a renewable alternative to fossil-based products, the market is projected to further grow at a CAGR of 9% between 2024 and 2032 to reach a value of nearly USD 1210.87 million by 2032.
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Isosorbide is a bio-based compound derived from the dehydration of sorbitol, a sugar alcohol. This compound finds primary usage in the synthesis of numerous polymers due to its biocompatibility and rigidity. It is primarily used to produce bioplastics, notably polycarbonates, and is favoured for its superior thermal resistance and optical clarity. Besides its polymer-related applications, isosorbide also has its presence in medical applications, predominantly as a diuretic and in treatments related to vascular headaches.
A key factor propelling the isosorbide market demand is the rising inclination towards green chemistry and sustainability. As industries and consumers grow increasingly conscious of the environmental footprint of their choices, there has been a growing shift towards bio-based products. This transition is mainly observed in the plastic industry, where the surge in bio-based plastic production has significantly elevated the demand for isosorbide as a preferred monomer.
One of the major isosorbide market trends is the robust growth of the personal care and cosmetics industry. The emphasis on organic and bio-based ingredients from this sector has fuelled the demand for isosorbide. Isosorbide, with its ability to act as a solvent and a humectant, is gaining momentum in formulations of various personal care products, thereby fuelling its market presence.
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Moreover, the ever-evolving pharmaceutical industry is also a pivotal sector driving the product's downstream demand and thus boosting the isosorbide market growth. Owing to isosorbide's medicinal properties and its ability to treat specific ailments, it has found considerable adoption in this industry. Isosorbide derivatives like isosorbide dinitrate and isosorbide mononitrate are consistently in demand for treatments related to heart diseases and angina.
Furthermore, the isosorbide market analysis also highlights a rise in its demand in the resin and polymer industry. Isosorbide derivatives, due to their rigidity and bio-based origin, are increasingly being utilised in coatings, adhesives, and sealants. Their incorporation in these applications not only ensures an eco-friendlier footprint but also provides enhanced performance metrics in terms of durability and adhesion.
The intensifying drive towards sustainable energy also plays a considerable role in influencing the market expansion. Solar panels, an integral component of sustainable energy systems, require polycarbonates for their construction. Given the inherent properties of isosorbide-based polycarbonates, such as UV resistance and clarity, the demand for isosorbide in this sector is expected to rise considerably.
Isosorbide Market Segmentation
The market can be divided based on application, end use, and region.
Market Breakup by Application
Polyethylene Isosorbide Terephthalate (PEIT)
Polycarbonate
Polyurethane
Polyester Polyisosorbide
Isosorbide Diesters
Others
Market Breakup by End-Use
Resins and Polymers
Additives
Others
Market Breakup by Region
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global isosorbide market. Some of the major players explored in the report by Expert Market Research are as follows:
Archer Daniels Midland Company
Jinan Hongbaifeng Industry and Trade Co., Ltd
Novaphene Specialities Pvt. Ltd.
Roquette Frères
Mitsubishi Chemical Corporation
Others
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