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Isosorbide Market Overview, Industry Trends, Regional Analysis and Growth Forecast by 2023

Author : Rahul Sankrityayan | Published Date : 2019-04-16 

An analysis of Isosorbide Market has been provided in the latest report introduced by Global Market Insights, Inc. that primarily focuses on the market trends, demand spectrum, and prospects of this industry over the forecast period. Furthermore, the report provides a detailed statistical overview in terms of trends outlining the geographical opportunities and contributions by prominent industry share contenders.

Global Isosorbide Market size is expected to reach over USD 350 million by 2023. This market is likely to grow with an anticipated CAGR of more than 19.5% by 2023. Growing awareness about sustainable products derived from renewable resources to replace synthetic products, in new emerging applications and regulatory issues is likely to drive the isosorbide market size.

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Resins & polymers were the largest end-use segment and accounted for more than 60% of the total isosorbide market share and are expected to witness steady gains over the forecast period. It is preferred in these applications due to its excellent optical, thermal and mechanical properties. End-use segments such as cosmetics, food, personal care and pharmaceuticals are likely to witness below average growth rates over the forecast period.

Polyethylene isosorbide terephthate (PEIT) was the largest application and accounted for more than 35% of the total isosorbide market share. PEIT along with the largest application is also likely to witness highest gains with an estimated CAGR of over 22% up to 2023. Applications such as diesters, polyurethane (PU) and polycarbonate are likely to witness moderate gains.

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Bioplastics market growth coupled with technical development and regulatory support is likely to push manufacturers to increase isosorbide production capacity. It is copolymerized with polyethylene terephthalate (PET) & ethylene glycol to enhance polymer strength and form PEIT.

Europe accounted for over 30% of the volume and is likely to gain moderate growth rates up to 2023.It is obtained from sorbitol which is produced from sucrose (sugar cane or sugar beet) or glucose (starch) and is widely used in food applications. The sorbitol market has emerged as a key platform for commodity chemicals such as ethylene glycol, propylene glycol, lactic acid, glycerol and 1,4-sorbiton.

Its use is not restricted to offer advantages as building block in PEIT application, but also it can be used as a comonomer for PU, polycarbonates, polyethers and polyesters. Derivates such as diesters and dimethyl are used as plasticizers in PVC and solvents & fluxing agents respectively.

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Also derivative such as such as mononitrates and dinitrates are used in medical applications to treat coronary artery diseases. Isosorbide dinitrate is one of the key ingredients in anti-hypertension drugs.

Global isosorbide market share is consolidated and represents a niche segment. Companies such as SK Chemicals, Novaphene and ADM are anticipated to commercialize their products in the forecast period. Presence of highly unorganized industry in China poses threat to these current manufacturers.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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