Isosorbide Market Share, Size, Trends, Industry Analysis Report, By Application (Polyethylene Isosorbide Terephthalate, Polycarbonate, Polyurethane, Polyester Polyisosorbide Succinate, Isosorbide Diesters, and Others); By End-Use; By Region; Segment Forecast, 2024-2032
- Published Date:Jan-2024
- Pages: 118
- Format: PDF
- Report ID: PM3063
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global isosorbide market was valued at USD 703.47 million in 2023 and is expected to grow at a CAGR of 9.4% during the forecast period. Continuous rise in the focus on high-quality products and increasing legislation concerning the sustainability of various chemicals, along with the rapid growth for the development of new technologies across the polymer and biotechnology industry using several types of eco-friendly ingredients, are primary factors driving the global market growth. Moreover, the extensively surging use of the product for a wide range of end-user applications like polyethylene, polycarbonate, polyurethane, and polyesters succinate, among others, coupled with the increase in the construction industry, especially in emerging economies like India and China, are likely to create new growth opportunities for the market.
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For instance, according to the Ministry of Statistics and Programme, the Indian Construction sector has witnessed a growth of about 16.8% in the April-June quarter of the financial year 2022-23, and the construction sector is estimated to increase by over 10.7% in FY22.
In addition, the growing number of government initiatives and regulatory support by various major countries across the globe are likely to foster green chemical manufacturing and provide significant opportunities for developing several bio-based/green alternatives. The high-class transition temperature and chemical properties of various isosorbide derivatives, with increased penetration towards their sustainability and eco-friendly characteristics, have gained significant traction in recent years.
However, the high cost associated with the production of innovative and effective isosorbide and various types of biodegradable polymers and its numerous adverse health effects, including irregular heart rate, severe headache, and angina pain, are among the key factors expected to hamper the demand and growth of the global market over the course of the study period.
The outbreak of the COVID-19 pandemic has significantly impacted the growth of the isosorbide market. The rapid spread of the deadly coronavirus has resulted in temporary suspension across various industries, including construction, automotive, and others, which has directly declined the consumption of isosorbide resins and polymers. Moreover, to control the novel coronavirus, many countries across the globe have resulted in a wide range of regulations on trade activities and high disruptions in the supply chain, and the market had an adverse impact on product demand.
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Industry Dynamics
Growth Drivers
The exponential growth in the product demand from pharmaceutical and cosmetics sectors, a rapidly booming bioplastics industry across the globe, and increased prevalence for use in elastomers and polymers are among the major prominent factors influencing the global market growth. Moreover, the shift in the consumer preference for bioplastics owing to a surge in consumer knowledge regarding the availability of greener products among consumers is also expected to boost the isosorbide market growth. Furthermore, the increasing emphasis on a variety of bio-based chemicals, a significant rise in the R&D expenditure, and growing product innovations with environmentally-friendly qualities that both government and private institutions are undertaking around the world are further expected to generate new huge growth opportunities for the market expansion in the next coming years.
Report Segmentation
The market is primarily segmented based on application, end-use, and region.
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By Application |
By End-Use |
By Region |
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Polyethylene isosorbide terephthalate segment accounted for the highest market share in 2022
The polyethylene isosorbide terephthalate segment accounted for significant global market share in 2022 and is likely to maintain its position throughout the anticipated period on account of exceptional consumption of the product across a wide range of applications in the thermoplastics and packaging such as jars, bottles, and hot-fill containers. PEIT polymer solutions comprise improved material properties compared to others available in the market, like high temperature, UV resistance, and rigidity, which makes them ideal and highly suitable for those applications.
The polycarbonate segment is anticipated to grow significantly during the forecast period, which is highly attributable to its ability to have good mechanical and thermal qualities with better transparency and numerous optical benefits. These properties allow the higher adoption and usage of products across several applications, including food & beverage containers, protective barriers, lenses, and visual displays. Moreover, the research activities for sustainable alternatives have increased the popularity of isosorbide as an enhanced and excellent substitute for isocyanates in the production of polyurethane.
Resins & polymers segment dominated the Isosorbide market in 2022
The resins & polymers segment dominated the global market in 2022 and is expected to maintain its dominance throughout the forecast period. The growth of the segment market can be attributed to increasing product prevalence in the bio-based refinery industry, mainly for the development of a variety of novel-based resins & polymers and wider adoption of isosorbide-methacrylate as a low-viscosity cross-linking polymer. In addition, the rapid increase in the need and demand for the product as a key platform chemical building several types of cyclic molecules and polymers, coupled with its versatile chemical properties or characteristics, is further expected to fuel the demand and growth of the segment market at a significant pace over the next coming years.
The additives segment is expected to grow at the fastest growth rate during the anticipated period, mainly driven by increasing applications of a product as a fuel additive in diesel and as an electrolyte additive for lithium-ion accumulators. The extensive rise in awareness and strict environmental protection legislation across both developed and developing economies have also spurred segment market growth.
The demand in North America is expected to witness the fastest growth in 2022
The North America region is expected to emerge as the fastest-growing region at a CAGR over the projected period. The regional market can be attributed to increasing government regulations towards reducing VOC content in paints & coatings and establishing a bio-based sector aimed at long-term economic growth across various major countries like US and Canada in the region. Furthermore, the rapid boost in demand for automobiles, with the emergence of industrial development, is further anticipated to fuel the demand for bio-based coatings in the region, which boosts the consumption and need for isosorbide in these applications.
For instance, according to our findings, the total sales of light vehicles in the United States increased by around 4.2% to 15.74 million units in January 2023 compared to the same period of the previous year.
Asia Pacific region dominated the global market in 2022, with a holding of healthy market share owing to the easy availability of raw materials required, cheap labor, and the extensive expansion of various end-use industries, including personal care, pharmaceutical, nutraceutical, and cosmetics along with the robust presence of some of the largest polymer manufacturers across the region. Additionally, the growing adoption of isosorbide derivatives and widespread use as plasticizers in polyvinyl chloride and fluxing agents has significantly fueled the demand for a product in the region.
Competitive Insight
Some of the major players operating in the global market include J&K Scientific, Jinan Hongbaifeng Industry, Manus Aktteva Biopharma, Par Pharmaceutical, Samyang Biopharmaceuticals Corporation, Roquette Freres, Vitas M Chemical, Fintech Industry, BioCrick Biotech, Mitsubishi Chemical, Merck, TCI Chemicals, ApexBio Technology, & Oakwood Products.
Recent Developments
- In May 2022, Mitsubishi Chemicals introduced a new product, “DURABIO”. Suzuki Motor adopts this as an application for the front grill of the S-CROSS brand. The product is made from the plant-derived raw material isosorbide with various exceptional properties like heat resistance, weather resistance, & impact resistance.
- In October 2022, Roquette introduced two new mannitol products for direct compression. The products have been mainly developed to tackle and overcome unique drug formulation challenges to help manufacturers to optimize processes & expand them into novel applications.
Isosorbide Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 767.83 million |
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Revenue forecast in 2032 |
USD 1,577.75 million |
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CAGR |
9.4% from 2024– 2032 |
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Base year |
2023 |
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Historical data |
2019– 2022 |
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Forecast period |
2024– 2032 |
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Quantitative units |
Revenue in USD million and CAGR from 2024 to 2032 |
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Segments covered |
By Application, By End-Use, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key companies |
J&K Scientific Ltd., Jinan Hongbaifeng Industry & Trade Co. Ltd., Manus Aktteva Biopharma LLP, Par Pharmaceutical, Samyang Biopharmaceuticals Corporation Inc., Roquette Freres, Vitas M Chemical Limited, Fintech Industry Limited, BioCrick Biotech, Thermo Fisher Scientific, Mitsubishi Chemical Corporation, Merck KGaA, TCI Chemicals, ApexBio Technology, and Oakwood Products Inc. |
FAQ's
The isosorbide market report covering key segments are application, end-use, and region.
Isosorbide Market Size Worth $1,577.75 Million By 2032.
The global isosorbide market expected to grow at a CAGR of 9.4% during the forecast period.
North America is leading the global market.
Key driving factors in isosorbide market are increasing consumption of isosorbide in various end-use industries and rising demand for isosorbide as renewable building blocks
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