LOS ANGELES, June 26, 2019 (GLOBE NEWSWIRE) -- The global isosorbide market is estimated to grow at CAGR above 8.6% over the forecast time frame 2019 to 2026 and reach the market value around USD 650.2 billion by 2026.
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Isosorbide is a bio-product obtained from stuff from different sources like maize, wheat, pumpkin, etc. Different businesses are also using their self-made starch to produce a broad variety of biofuels. Sorbitol is an important starting material for isosorbide and one of the most commonly used starch derivative. Roquette is the biggest isosorbide producer throughout the value chain. The acquisition of raw material is made by agreements of manufacturing with farmers in areas where the manufacturing facilities are situated. For multiple end use applications Roquette is involved in the manufacturing of starch, isosorbide and biopolymers based upon isosorbides. Critical variables to drive the market are the increasing requirements in the cosmetics and medicaments sectors, the growing market in bioplastics and increasing use for elastomers and polymers.
Consumers are further projected to have a better understanding of the environment in this sector with respect to sustainability and technological advances. The shift in customer preference to bioplastics is expected to increase market development over the next few years, supported by a growing understanding of green product usage.
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Nevertheless, side effects of isosorbide derivatives on health like irregular heart rate, serious headache and angina pain over the predicted time frames are estimated to hinder general market development. The increasing focus on bio-based chemicals is projected to generate fresh possibilities for market growth in the forecast era as a result of significant investments in research, growth and product innovation with respect to environmental-friendly characteristics. Furthermore, it is estimated that changes in the trend to replace plastics of synthetic oil will in future enhance isosorbide regulatory patterns. Fossil derivatives are non-biologically degradable and have adverse environmental impacts. As the future accessibility of crude oil and fluctuations in crude oil prices issues, demand for biodegradables is on the rise. This will increase demand for bio-based goods, together with increased health issues and environmental awareness.
Current PEIT study has shown that petroleum feedstocks and damaging emissions are reduced potentialally. The PEIT market is therefore regarded in the future as the most appealing market. In the next six years extensive continuing R&D will increase PEIT demand. The implementation of isosorbide in polyethylene increases its rigidity and strength according to studies conducted under the Iowa maize promotion board. Increased concentrate on bio-based chemicals led to elevated investment in R&D and product innovation with environmentally friendly characteristics.
Major Chemical firms have focussed on isosorbid-based polymers. The EPO has been encouraged to introduce strict rules to create new technologies by promoting leading biotechnological and polymer companies using environmentally friendly crude mats.
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Asia Pacific is expected to expand to the largest CAGR in the forecasted period due to environmental dangers associated with the use of plastics derived from petroleum.. Based on low raw materials and labor costs, the general market growth is caused primarily by an increased demand for bio-plastics in China. The increasing demand is projected to drive demand over the forecasting era for biobased polymers such as PET, polycarbonate and isosorbide-based polyurethane. As a result of its quickly increasing demand, for example the US company ADM, one of the world's largest food processing firms, has developed isosorbide.
Key Players & Strategies
The isosorbide market consists of major vendors such as Mitsubishi Chemical, Genomatica, Novaphene, Novomer, Roquette Frères, SK Chemical, Cargill, Tate and Lyle, BioAmber, DuPont Archer Daniels Midland, and Par Pharmaceutical.
Major producers have taken strategic measures to expand their businesses, including product development, fusions and acquisitions, as well as regional expansion. The EPA is pushing leading biotechnology and polymer businesses to create new technology using environmentally-friendly, rough-matted, rough-matted raw materials, as major chemical companies, such as Mitsubishi Chemicals and SK Chemicals have focused on polymers based on isosorbidity. Roquette have shifted their production bases to cheaper nations such as China, India, Thailand and Indonesia.
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