Isosorbide Market Application Report 2022 – Market Demand, Price and Forecast till 2030

Market Synopsis

According to the MRFR analysis, the global Isosorbide Market was valued at USD 420 million in 2019 and is projected to witness a CAGR of over 8% during the forecast period, 2020–2027.

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Isosorbide is a bio-based, cycloaliphatic monomer obtained from sorbitol dehydration. This dehydration reaction also produces several other singly dehydrated by-products, as well as unidentified oligomeric species.

The protuberant factor driving the growth of the global market is the increasing demand for isosorbide in the bioplastics and coatings industries, prominently in Asia-Pacific and Europe. Bioplastics derived from isosorbide serve a large number of industries including packaging, automotive, consumer electronics, and sports goods. With diversifying application segments such as automotive transportation and building construction, the growth is expected to rise exponentially in the years to follow. Moreover, increasing use of isosorbide in the formulation of bio-based coating resins is expected to be the other key factor driving the market growth. Isosorbide, as a monomer or through its derivatives, is particularly adapted to reactive coatings. It enhances the coating properties and meets the stringent Government regulations and industry initiatives for the creation of more sustainable coatings, thus reducing levels of volatile organic compounds (VOCs).

However, the high cost of manufacturing isosorbide and biodegradable plastics is one of the key restraining factors for market growth. Nevertheless, the technological advancements and increasing investments in the field of bioplastics is likely to fuel the market growth during the forecast period.

Covid 19 Analysis

COVID-19 will have a negative influence on the market in 2020. Because of the outbreak scenarios, construction and automotive industry operations were temporarily suspended during the lockdown, resulting in a drop in the consumption of isosorbide polymer and resins used in the manufacturing of automobile elements such as dashboard and the internal, external radiator grille, and so on building materials such as ornamental interior surfaces, flooring and so on, that has had a negative influence on sales for the isosorbide market under consideration.

SEGMENTATION

By Region

North America
Europe: Western European countries, including Germany, France, and UK, are the major contributors to the regional market growth. The established food beverage industry is expected to support the demand for isosorbide in the regional market during the forecast period. Stringent regulations pertaining to the use of VOC coatings and the increasing preference for bioplastics have been driving the demand for the isosorbide in the region.
Asia-Pacific: Asia-Pacific is the largest and fastest-growing regional market for isosorbide, with China and India being the leading country-level markets. The plastic manufacturing companies in Europe, the US, and Japan have commercialized production of biodegradable polymers, and production has shifted to Asia, due to the low cost and convenience of feedstock acquisition. Considering the established manufacturing base and the increasing demand for bioplastics globally, the demand for isosorbide in the regional market is expected to increase multifold in the years to follow.

By Application

Polymers and Coating: The segment held the largest share of the market, around 70 to 75%, in 2019. Isosorbide is used as building blocks in polymer synthesis of performance plastics such as thermoplastics (polyesters, polycarbonates, and thermoplastic polyurethanes) and curable resins (polyurethanes, unsaturated resins, epoxy resins, and coatings). Isosorbide-based polymers exhibit several excellent properties ranging from their optical clarity to their strong resistance to UV irradiation, heat, chemical degradation, impact, and abrasion.

The addition of isosorbide(up to 10%) in polyesters increases the glass transition temperature, produces better heat resistance, better optical clarity to the plastic, and increases the stiffness of the PET chains. Moreover, addition of isosorbide in polyesters makes the plastic suitable for replacement of BPA based PC for food contact applications. Isosorbide containing polycarbonates offer significantly increased properties like mechanical strength, heat resistance, and optical properties with resulting properties between usual Polycarbonate and PMMA.

In the coating resins, isosorbide is safe and helps to enhance PU coating properties such as scratch and impact resistance and adhesion. In epoxy resins, its derivative shows a good UV resistance.

Pharmaceuticals: Isosorbide is used as a diuretic and as a cure for heart problems (as isosorbide dinitrate). Isosorbide mononitrate is used to prevent angina attacks (chest pain), it dilates (widens) blood vessels, making it easier for blood to flow through them and easier for the heart to pump. In addition, isosorbide is a commercial medicine for Ménière’s disease, and its nitric acid ester is used to treat angina pectoris.
Others: The others segment includes solvents, adhesives sealants, and sports leisure goods

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TABLE OF CONTENTS

1 EXECUTIVE SUMMARY

2 MARKET INTRODUCTION

2.1 MARKET DEFINITION

2.2 SCOPE OF THE STUDY

2.3 ASSUMPTIONS LIMITATIONS

2.4 MARKET STRUCTURE

2.5 KEY TAKEAWAYS

3 MARKET INSIGHTS

4 RESEARCH METHODOLOGY

4.1 RESEARCH PROCESS

4.2 PRIMARY RESEARCH

4.3 SECONDARY RESEARCH

4.4 MARKET SIZE ESTIMATION

4.5 FORECAST MODEL

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