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.
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).
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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.
SEGMENTATION
By Application
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.
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By Region
KEY PLAYERS
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Competitive landscape
The major key players are active in the development of bio-based building blocks that can be used in place of traditional platform chemicals. The major corporations are focusing on worldwide company growth in order to achieve a large market share in the worldwide sector. Roquette is the world’s largest manufacturer of the Isosorbide Industry, and it operates along the value chain, producing starch, isosorbide, and biopolymers.
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