Isosorbide Market Size, Share, Growth Analysis, By Application(Polycarbonate Production, and Polyester Polyols Production), By End-User Industry(Plastics Industry, Pharmaceutical Industry, and Personal care industry), By Region - Industry Forecast 2024-2031

Isosorbide Market was valued at USD 0.66 Billion in 2022 and is poised to grow from USD 0.72 Billion in 2023 to USD 1.45 Billion by 2031, at a CAGR of 9.1% during the forecast period (2024-2031).

The competitive landscape of the isosorbide market comprises of several small and medium-sized players who are competing for a share in the market. These players are mainly focused on developing new and innovative products to meet the growing demand for sustainable products. The market is highly competitive and fragmented with players adopting strategies such as mergers, acquisitions, partnerships, and collaborations to expand their presence in the market. The companies are also investing heavily in R&D activities to improve the production processes and reduce the cost of production. The market is expected to witness intense competition in the coming years with players trying to gain a larger share of the market. 'Roquette Freres SA', 'SK Chemicals Co. Ltd.', 'Jinan Hongbaifeng Industry & Trade Co. Ltd.', 'Mitsubishi Chemical Corporation', 'Novaphene Specialities Pvt. Ltd.', 'Jinan Huaming Biochemistry Co. Ltd.', 'Par Pharmaceutical Companies Inc.', 'TCI Chemicals (India) Pvt. Ltd.', 'Alfa Aesar GmbH & Co. KG', 'Cargill Inc.', 'Ecogreen Oleochemicals GmbH', 'Caledonian Ferguson Timpson Ltd.', 'Thermo Fisher Scientific Inc.', 'Merck KGaA', 'Chengdu Kaijie Biopharm Co. Ltd.', 'J&K Scientific Ltd.', 'Henan Sinotech Import & Export Corporation', 'Haihang Industry Co. Ltd.', 'Tokyo Chemical Industry Co. Ltd.', 'Zhejiang Shenghua Biok Biology Co. Ltd.', 'Mitsubishi Chemical said in May 2023 that it will begin offering samples of the new DURABIO D93 Series, a plant-derived bioengineering plastic generated from isosorbide. ', 'An asset transfer agreement was signed in March 2023 by SK Chemicals to purchase Shuye's chemically recycled PET and BHET business division. It is well known that SK Chemicals uses isosorbide to improve the characteristics of PET. ', 'In September 2022, Roquette completed the acquisition of Crest Cellulose, an excipient manufacturing company located in India. Following its initial majority stake investment in 2018, Roquette is well-positioned to persist in its ambitious growth pursuits and meet the increasing demand for top-notch plant-based excipients.'

One key driver of the growth of the isosorbide market is the increasing demand for sustainable and eco-friendly materials. Isosorbide-based polymers are biodegradable and renewable, making them a viable alternative to traditional petrochemical-based materials. The shift towards more sustainable and environmentally friendly products and processes in various industries, including plastics, pharmaceuticals, and personal care, is expected to drive the demand for isosorbide in the coming years. This growing trend towards sustainability is being driven by concerns about climate change, resource depletion, and the negative impacts of industrial activity on the environment.

One key market trend in the isosorbide industry is the increasing adoption of sustainable and eco-friendly materials in various end-use industries. Isosorbide-based polymers offer several advantages over traditional petrochemical-based materials, including biodegradability, renewability, and reduced environmental impact. This trend is driven by the growing awareness about the negative environmental and health effects of conventional materials and the need for more sustainable alternatives. The shift towards circular economy principles and the increasing focus on reducing carbon footprint are expected to further drive the demand for isosorbide-based products in the future, particularly in the plastics industry.

North America dominated the isosorbide market. The region has a significant share in the market owing to the presence of a large number of end-use industries, such as pharmaceuticals, cosmetics, and polymers. The market in North America is dominated by the US, which accounts for the majority of the revenue in the region. The US is a major consumer of isosorbide due to the growing demand for sustainable and eco-friendly products. The country has a well-established pharmaceutical industry, which is a major user of isosorbide in the production of drugs for cardiovascular diseases. The cosmetics industry in the US is also a major consumer of isosorbide, where it is used as an active ingredient in skin care products. The demand for isosorbide in the polymer industry is also growing in the US due to the increasing awareness about sustainable products. Isosorbide is used as a building block for the production of biodegradable plastics, which are gaining popularity in the region. This trend is expected to continue in the coming years, driving the growth of the isosorbide market in North America. Another factor driving the growth of the isosorbide market in North America is the presence of major manufacturers in the region. Companies such as Roquette Freres, Novaphene, and SK Chemicals have a significant presence in the market and are expanding their production capacities to meet the growing demand. However, the growth of the isosorbide market in North America is also hampered by the high cost of production and the availability of cheaper alternatives. These factors are expected to restrain the market growth in the region to some extent.