The global market for isosorbide is expected to reach USD 324.6 million by 2020, according to a new study by Grand View Research, Inc. The quest for replacing synthetic products with sustainable equivalents based on renewable resources has driven isosorbide exploration as a platform in the industry. Grand View Research further observes the growing end-use industries such as cosmetics and personal care are expected to contribute to the growth of the market. Moreover, due to the increasing concern regarding toxic chemical components, the industry is now focusing on bio-based products such as isosorbide.
PEIT (Polyethylene Isosorbide Terephthate) emerged as the leading application segment for isosorbide and accounted for 36.8% of the total isosorbide consumed in 2012. PEIT along with being the biggest application is also expected to be the fastest growing application segment for isosorbide at an estimated CAGR of 23.8% from 2013 to 2020. Other polymer applications such as polycarbonate, polyurethane and isosorbide diesters among others are expected to witness moderate growth in the future owing to continuous efforts in research and development of isosorbide derivatives for polymer applications. However, the conventional applications of isosorbide in pharmaceutical sector are relatively expected to witness sluggish growth over the forecast period.
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summary of this report @ http://www.grandviewresearch.com/industry-analysis/Isosorbide-Industry
Further Key findings from the study suggest:
·
The global isosorbide market is expected to be
324.6 million by 2020 growing at a CAGR of 19.7% from 2013 to 2020.
·
Resins and polymers emerged as the largest
end-use industry for isosorbide and accounted for over 60% of the global demand
in 2012. This segment is further expected to witness significant growth on
account of steady research in the field. Other end-uses including
pharmaceutical, cosmetics, personal care and food among others are projected to
experience sluggish growth owing to saturated application market
·
Asia Pacific continued its dominance in the
overall isosorbide market and accounted for 41.4% of the total demand in 2012.
Asia Pacific, along with being the biggest market is also expected to be the
fastest growing market for isosorbide at an estimated CAGR of 24.1% over the
forecast period. The growing bio-based plastics manufacturing capacity mainly
in China due to low labor and raw material cost has been acting as one of the
major factors driving the demand for isosorbide. Europe trailed Asia Pacific
with just over 31% of the total demand in 2012. The North American market for
isosorbide is expected to reach a market worth USD 63.8 million by 2020
·
Some of the players in the industry such as
Roquette, France and SK Chemicals, Korea have been investing in research and
development and are working to produce eco-friendly polymers. However, the food
and fuel debate for raw materials such as maize and wheat may hinder the market
in future.
Browse
more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/renewable-energy
For the purpose of this study, Grand View Research has segmented the global isosorbide market on the basis of application, end use and region:
# Isosorbide Application Outlook,
- PEIT
- Polycarbonate
- Polyurethane
- Polyesters polyisosorbide succinate
- Isosorbide diesters
- Others (pharmaceutical, food, etc.)
# Isosorbide End-use Outlook,
- Polymer and resins
- Additives
- Others
# Isosorbide Regional Outlook,
- North America
- Europe
- Asia Pacific
- Rest of the World
For Free press release of this report
- http://www.grandviewresearch.com/press-release/isosorbide-market
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View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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