Isosorbide is an emerging platform chemical, renewable, and adopted for resins, polymers, & additives. Derivatives of isosorbide (isosorbide mononitrate and isosorbide dinitrate) are used in the medical sector to treat hydrocephalus, angina pectoris, and glaucoma. Other consumers encompass pharmaceuticals, personal care, etc.
Although produced & consumed in little quantities, isosorbide is widely recognized owing to technological advancements. It has the potential to replace fossil resource-based products. Moreover, concerns about lessening the consumption of toxic chemicals are rising. This is driving research & development of bio products including isosorbide.
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However, the isosorbide market faces certain challenges. Corn is a chief raw material for isosorbide. Its supply & price are unstable due to demand from animal feed and food applications. Prices of feed grains, oil seeds, and food grains are affected by debates on fuel and food.
The market could expand at a CAGR of 19.8% from 2013 to 2020. Its incomes will be over USD 325 million in 2020. It is split as per applications, end-users, and regions. Applications are polyurethane, isosorbide diesters, polycarbonates, polyesters polyisosorbide succinate, PEIT (polyethylene isosorbide terephthate), and others.
PEIT was the dominant segment in 2012. It should grow at the fastest rate (CAGR of 24%) over the next seven years. Polyurethane held 9.5%, while polyesters polyisosorbide succinate accounted for 14% of the total volumes in 2012. Advantages of isosorbide-based polyurethane include low polydispersity and high thermal stability.
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End-users of the isosorbide market comprise additives, polymers & resins, and others. Polymers & resins consumed 65% of the overall volumes in 2012. Additives, an expanding end-user, accounted for 21% of the worldwide demand in 2012.
Regions consist of Europe, North America, Asia Pacific, and RoW (Rest of the World). Asia Pacific, with 42% demand, was the leader in 2012. It would be the fastest-growing market, with an expected CAGR of 24% from 2013 to 2020. China leads the manufacture of bio-based plastics in Asia Pacific owing to cheap labor and abundant raw materials. Europe was the second-largest market in 2012.
The global isosorbide market is dominated by a participant, namely Roquette. Other participants like ADM Company, Novaphene Specialties Private Limited, and SK Chemicals Co. Limited make huge investments for environment-friendly polymers. Multinational vendors face stiff competition from large & unorganized Chinese suppliers.
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