Global Isosorbide Market 2017-2021
Isosorbide is a heterocyclic compound with the chemical formula C6H10O4 and is available in the form of a white solid. Isosorbide is primarily derived from glucose and sorbitol, which is a simple sugar obtained from the enzymatic hydrolysis of starch. Isosorbide is available in two isomeric forms, namely, isoidide and isomannide. Isosorbide is classified under the diols family due to the presence of two alcoholic (OH) groups in its chemical structure. Isosorbide is non-toxic in nature and is also environment-friendly as it is produced from raw materials such as starch (maize, rice, wheat, husk, and other crops contain a rich source of starch). Isosorbide is primarily used in bio-based polymers and pharmaceuticals.
Technavio’s analysts forecast the global isosorbide market to grow at a CAGR of 8.76% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global isosorbide market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price of the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Isosorbide Market 2017-2021
Technavio recognizes the following companies as the key players in the global isosorbide market: Archer Daniels Midland, Jinan Hongbaifeng Industry & Trade, Mitsubishi Chemical Holdings, Novaphene, and Roquette
Other Prominent Vendors in the market are: Alfa Aesar, Ecogreen Oleochemicals, J&K Scientific, JP Laboratories, Linyi Shengxin Pharmaceutical R&D, MERYER, Par Pharmaceutical, SK Chemicals, and TCI (Shanghai) Development.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Growing significance for environment-friendly polymers. Polymers derived from petroleum-based products are used in a number of applications. These polymers are cost-effective but are harmful to the environment due to their non-degradable nature. The growing environmental concerns, rising health awareness, and increasing demand for biodegradable products have forced vendors to replace petroleum-derived polymers with environment-friendly polymers. The environment-friendly polymers contain polymers or their composites that are either biodegradable or bio-based (from renewable resources). Isosorbide is derived from natural sources such as corn starch. Isosorbide, when blended with other polymers, exhibits superior properties and enhances the final product performance, making it biodegradable and environment-friendly. Thus, the growing demand for biodegradable polymers is boosting the demand for isosorbide.”
According to the report, one of the major drivers for this market is Demand from resin and polymers. BPA is largely used in resins and polymers. The growing environmental concerns and non-biodegradable nature of BPA have led to the replacement of BPA with isosorbide. The isosorbide consumption in the resins and polymers industry has increased due to its superior properties and biodegradable nature. Resins and polymers had the highest end-user market share of 46.85% in the global isosorbide market in 2016 and were the key drivers for this market. Isosorbides are largely used in polymers, epoxy, and thermoset resins. When resins and polymers are blended with isosorbide, they exhibit superior mechanical properties, biodegradability, superior kinetic characteristics, superior flexural properties, and high thermal stability. The growing demand for bio-based resins and polymers has led to an increased consumption of isosorbide.
Further, the report states that one of the major factors hindering the growth of this market is High cost of manufacturing. The use of bio-based isosorbide as an additive enhances the properties of the polymer. Isosorbide has the potential to reduce the use of petroleum-based feedstock used in polymers. Isosorbide production from organic raw materials involves huge costs, which is the major threat to the global isosorbide market. Corn is the major raw material used in the production of isosorbide. The commodity market price of corn keeps varying from region to region, which leads to an increase in the cost of production of isosorbide.
Archer Daniels Midland, Jinan Hongbaifeng Industry & Trade, Mitsubishi Chemical Holdings, Novaphene, Roquette, Alfa Aesar, Ecogreen Oleochemicals, J&K Scientific, JP Laboratories, Linyi Shengxin Pharmaceutical R&D, MERYER, Par Pharmaceutical, SK Chemicals, and TCI (Shanghai) Development.