According to the latest report by IMARC Group, titled “Isosorbide Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global isosorbide market size reached US$ 565.0 Million in 2022. Isosorbide is a versatile and widely utilized compound derived from renewable resources, mainly starch crops like corn and wheat. It is a white, crystalline substance with excellent thermal and chemical stability. Isosorbide finds extensive applications in various industrial sectors owing to its unique properties and environmentally friendly nature. As a chemical building block, it serves as a key raw material in the production of polymers, resins, and plastics. The compound is garnering significant attention in the market for its biodegradability and non-toxic characteristics, making it a sustainable alternative to conventional petrochemical-based materials. Besides this, it is extensively adopted in the formulation of consumer goods, packaging materials, and pharmaceutical products.
Global Isosorbide Market Trends:
The global isosorbide market is experiencing remarkable growth, primarily fueled by the rising demand for eco-friendly and sustainable materials. Isosorbide, derived from renewable plant sources, serves as an attractive solution to reduce reliance on fossil fuels and mitigate environmental impact. As businesses and consumers become conscious of their environmental footprint, the demand for isosorbide-based products, such as biodegradable plastics and packaging materials, is on the rise, creating a favorable outlook for market expansion. Moreover, the expanding application of isosorbide in manufacturing polymers and resins, due to its enhanced mechanical and thermal properties, has fueled its demand in the automotive and construction sectors. This has further led to a surge in partnerships and collaborations between chemical companies and end-user industries to develop innovative solutions utilizing isosorbide, thereby supporting the market growth. In addition to this, the expanding product adoption across the pharmaceutical sector in drug delivery systems and biodegradable implants due to its non-toxic and biocompatible nature is presenting lucrative opportunities for market expansion. Concurrently, supportive government regulations and initiatives promoting the use of bio-based materials through incentives and subsidies are aiding in market expansion. Furthermore, ongoing advancements in isosorbide production processes and technologies improving efficiency, lowering manufacturing costs, and enhancing overall product quality have expanded its applications across the electronics, aerospace, and consumer goods sector, thereby contributing to the market's growth. Looking forward, the market value is projected to reach US$ 923.9 Million by 2028, expanding at a CAGR of 8.65% during 2023-2028.
- Based on the product, the market is classified into oil-based, water-based, and silicone-based isosorbide. Currently, oil-based isosorbide represents the largest market segment.
- On the basis of the application, the market has been segregated into PEIT, polycarbonate, polyesters isosorbide succinate, polyurethane, isosorbide diesters, and others. Among these, PEIT accounts for the largest market share.
- Based on the end-use, the market is categorized into polymers and resins, additives, and others. At present, polymers and resins are the biggest end-use of isosorbide.
- On a regional basis, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa. Presently, Asia Pacific enjoys the leading position in the market.
- The competitive landscape of the market has also been examined, with some of the key players being Alfa Aesar, Archer Daniels Midland, Cargill, Ecogreen Oleochemicals, J&K Scientific, Jinan Hongbaifeng Industry & Trade, JP Laboratories, Meryer, Mitsubishi Chemical, Novaphene, Par Pharmaceutical, Roquette, SK Chemicals, and TCI (Shanghai) Development.
|Base Year of the Analysis
||Product, Application, End-Use, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Alfa Aesar, Archer Daniels Midland, Cargill, Ecogreen Oleochemicals, J&K Scientific, Jinan Hongbaifeng Industry & Trade, JP Laboratories, Meryer, Mitsubishi Chemical, Novaphene, Par Pharmaceutical, Roquette, SK Chemicals and TCI (Shanghai) Development
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