Isosorbide Market Is Projected To Be Around $605.71 Million By 2022
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A research study titled, “Isosorbide Market by Application and End User- Global Industry Analysis and Forecast to 2022” published by Crystal Market Research, states that the isosorbide market is projected to be around $605.71 million by 2022.
The global isosorbide market was worth USD 271.32 million in the year of 2014 and is anticipated to reach approximately USD 605.71 million by 2022 while registering itself at a compound annual growth rate (CAGR) of 9.18% over the forecast period. The heterocyclic compound that is gained from glucose is known as isosorbide. Isosorbide as well as its two isomers, which are isomannide and isoidide, are 1,4:3,6-dianhydrohexitols. It is a colorless solid that is developed from the dual sorbitol dehydration. Isosorbide is a harmless and non-toxic glycol prepared from bio-based raw materials that are thermally stable and biodegradable. It is utilized in drugs and has been boasted as a latent bio-feedstock. Isosorbide is employed as a diuretic, primarily for the treatment of hydrocephalus, and is also utilized for treatment of glaucoma. Other drugs are prepared from isosorbide, involving isosorbide mononitrate and isosorbide dinitrate, are utilized for the treatment of angina pectoris. Other medicines derived from isosorbide are utilized as osmotic diuretics as well as to treat esophageal varices. The isosorbide is also employed for bio-based polymers like polyesters as a building block to improve their rigidity and toughness.
The global isosorbide market is expected to experience a significant growth with a decent compound annual growth rate over the forecast period. Chief applications of isosorbide are in elastomer used in liquid crystal displays, biodegradable plastics, pharmacy, fodder, farm chemicals, and in various other fields. Pharmaceuticals and Biodegradable plastics are anticipated to be the major application sector of the global market. With Asia-Pacific countries rising by bounds and leaps, it is also projected that the area could be a key factor fueling the isosorbide sales in its several application sectors. The major factors hampering the growth of the global market are possible side-effects like headaches as well as other sorenesses owing to the constant practice of these chemicals in therapeutic field and the policies governing the sale of the products being diverse in different regions in the globe. And the derivative of isosorbide such as dinitrates and mononitrates are utilized in therapeutic applications for treatment of coronary artery illnesses. One of the key ingredients in anti-hypertension drugs is isosorbide dinitrate.
The key market players for the global isosorbide market are Roquette Freres SA, Par Pharmaceutical Companies, Inc., Ecogreen Oleochemicals, Novaphene Specialities Pvt, Ltd., Jinan Hongbaifeng Industry And Trade Co., Ltd., JP Laboratories Pvt. Ltd., Cargill, SK Chemicals Co., Ltd., and Mitsubishi Corporation. By application, the market industry is divided into; Polycarbonate, Polyethylene Isosorbide Terephthalate (PEIT), Polyurethane, Isosorbide Diesters, Polyester Polyisosorbide Succinate, and Others. According to end-use type, the global market is classified as; Resins & Polymers, Additives and Others. Geographically, the global isosorbide market is segmented in regions which are; Europe (Germany, Spain, Italy, France, UK and Rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea and Rest of Asia Pacific), North America (the United States, Mexico and Canada)and Rest of the World (Brazil, Saudi Arabia, South Africa, United Arab Emirates and Others).
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Key findings of the isosorbide market
- In 2014, the global isosorbide market was valued approximately USD 271.32 million and is projected to reach about USD 605.71 million by 2022 with a compound annual growth rate (CAGR) of 9.81% over the forecast period.
- Polymers and resins were the top application sector with demand volume more than 60% in the year 2015.
- The rising product requirement as a major platform chemical compound for formulating different polymers and cyclic molecules may be credited to the elevated growth in this sector during the forecast years.
- Additives have demonstrated ample potential to be utilized as a bio-based arbitrate in plasticizers, that is projected to lift up the demand of isosorbide to around 14.5-kilo tons by the end of 2025 in this sector.
- Asia Pacific’s regional isosorbide market has ruled the global isosorbide market and reported for almost 30% of overall volume in the year of 2015
- South & Central America is anticipated to develop at a compound annual growth rate of 10.4% concerning volume.
- The encouraging policies composed by authorities for utilizing bio-based yields in automobile mechanism are anticipated to boost PEIT demand in South & Central America.
- Key players in the global isosorbide industry are Novaphene Specialities Pvt, Ltd., Roquette Freres SA, Ecogreen Oleochemicals, Par Pharmaceutical Companies, Inc., JP Laboratories Pvt. Ltd., Jinan Hongbaifeng Industry And Trade Co., Ltd., Cargill, Mitsubishi Corporation, and SK Chemicals Co., Ltd.