Global Isosorbide Market sales is growing at 9% CAGR till 2020
Deerfield Beach, FL -- (SBWIRE) -- 09/08/2017 -- Zion Market Research has published a new report titled "Isosorbide Market for PEIT, Polycarbonate, Polyurethane, Polyesters Polyisosorbide Succinate, Isosorbide Diesters and Other Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020." According to the report, global isosorbide was valued at around USD 250.0 million in 2014 and is expected to reach USD 400.0 million in 2020, growing at a CAGR of around 9% between 2015 and 2020. In terms of volume, the global isosorbide market stood at 31.5 kilo tons in 2014.
Farm fodder additives use a large amount of polymers and elastomers which is one of the key driving factor of the isosorbide market. Rising demand for bio-based plastic material is expected to drive the isosorbide market in Asia-pacific region during the forecast period. Additionally, regulatory support and technological development is expected to have the significant impact on the market growth. However, conflict of raw material such as maize and wheat is expected to impede the growth of the isosorbide market.
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The major driving factor for this market is rapidly increasing utilization of isosorbide in polymers and elastomers as farm fodder additives. Growing bio-based plastics manufacturing capacity, especially in Asian countries, is also expected to have a positive impact on the growth of isosorbide market. However, the food and fuel dispute for raw materials such as maize and wheat are predicted to hamper the growth of this industry. Furthermore, the huge unexploited market for healthcare and medical industry is expected to put forward growth opportunities to the isosorbide manufacturers.
PET (Polyethylene Isosorbide Terephthate) applications segment was the largest segment of global isosorbide industry and accounted for around 35% share of the entire market in 2014. PEIT with being the biggest application sector is also expected to be the fastest growing segment for isosorbide market. It is expected to grow at strong CAGR of around 20% from 2015 to 2020. Polycarbonate, isosorbide diesters and polyurethane application segments are expected to exhibit moderate growth over the forecast period. This is attributed to consistent efforts in research and development activities for isosorbide applications.
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In terms of volume, global isosorbide market was dominated by Asia Pacific with largest share in 2014. Demand for isosorbide in this region is primarily driven by strong demand from China owing to low labor and raw material cost. Europe follows Asia Pacific with share around 30% of the total demand of isosorbide in the same year. In addition, North America is also expected to have significant growth during the estimated years between 2015 and 2020.
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The key players for isosorbide market include ADM, Roquette, Jinan Hongbaifeng Industry, and Cargill, Jinan Yu Teng Pharmaceutical, SK Chemicals, Ecogreen Oleochemicals, Fultaste, and Trade Co., Ltd. among others.
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