LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global isosorbide market to grow at a CAGR of almost 9% during the forecast period, according to their latest report. The research study covers the present scenario and growth prospects of the global isosorbide market for 2017-2021.
Global isosorbide market at a glance
Isosorbide is a heterocyclic compound produced from bio-based feedstock, mostly from glucose and sorbitol. Isosorbide is available in the form of white solid. It is widely used in polymer compositions including PEIT, polycarbonate, polyurethane, and others, providing superior properties to the polymers for use in various end-use industries.
Isosorbide is used to manufacture chemicals such as PEIT, polycarbonate, polyurethane, polyester polyisosorbide succinate, and others. It is also used in resins and polymers, additives, and others. The major growth is contributed by PEIT, followed by polycarbonate, polyurethane, and polyester polyisosorbide succinate. Isosorbide diesters will be the fastest growing segment during the forecast period due to its unique properties.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global isosorbide market:
- Demand from resin and polymers
- Demand for PEIT
- Growing demand from APAC
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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.
Mohammad Shakeel Iqbal, a lead bio-chemicals and bio-materials research analyst at Technavio, says, “The global resins market is growing significantly with the growing demand from the automotive industry, rising disposable income, increase in the number of infrastructure projects, increase in demand from medical applications, growing demand from emerging countries such as China and India, and technological advances. The growing demand from the resins market will generate a high demand for isosorbide, which, in turn, will boost the growth of this market.”
Demand for PEIT
Polyethylene terephthalate containing isosorbide polymers are produced from isosorbide monomers, which exhibit a wide range of glass transition temperatures ranging from 176°F to 356°F. PEIT provides attractive appearance along with high resistance to stress and strain to the films and bottles. When polyethylene terephthalate is blended with highly pure isosorbide, it exhibits high-temperature resistance, superior mechanical properties, thermal properties, and excellent clarity.
“The global PEIT market is growing significantly due to the growing demand for sustainable and recyclable materials. Some of the properties of PEIT that make it ideal as a packaging material are recyclability, high strength, and versatility. In addition, it exhibits less environmental impact than aluminum, glass, and other packaging materials and is energy efficient due to its excellent capacity-to-weight ratio,” adds Shakeel.
Growing demand from APAC
Isosorbide is used in a number of applications. APAC is the fastest-growing region due to the region's huge consumer base, untapped market potential, and the presence of a large number of pharma and polymer manufacturers in this region. The food packaging industry in APAC is experiencing a significant growth due to the rising demand for beverages and dairy products, increasing demand for processed foods, high demand for non-alcoholic drinks and fortified beverages, rising health awareness, demographic changes, greater consumer confidence, and a greater demand from emerging countries such as Vietnam, Indonesia, Thailand, China, India, Japan, and other ASEAN countries.
Top vendors:
- Archer Daniels Midland
- Jinan Hongbaifeng Industry & Trade
- Mitsubishi Chemical Holdings
- Novaphene
- Roquette
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