Press release
Epoxidized Soybean Oil Market to cross $650mn by 2024 | Key Players are Hallstar, Inbra Indústrias Químicas, Arkema, CHS Inc., Valtris Specialty Chemicals, The Chemical Company
Epoxidized Soybean Oil (ESBO) Market
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Epoxidized soybean oil market size from hydrogen peroxide may surpass USD 100 million by 2024. Hydrogen peroxide is a powerful oxidizing and reducing agent. Government regulations play an important role in propelling hydrogen peroxide market growth due to emission-free and environmentally friendly properties. These factors may drive ESBO market growth.
These products find application in stabilizing additives and are widely accepted in industrial applications. It also improves performance of the system and gives heat and light stability as compared to metallic stabilizers. These factors are likely to foster industry growth.
ESBO Market, By Raw Material
• Soybean oil
• Hydrogen peroxide
• Formic acid
• Acetic acid
• Others
ESBO Market, By Application
• Plasticizer
• Fuel additive
• Flavors & Fragrances
• Coatings
• UV care
• Agriculture chemicals
• Lubricants
• Pigment Dispersion Agent
• Cutting oils
• Functional fluids
• Others
ESBO Market, By End-Use
• Food & Beverage
• Adhesives & Sealants
• Automotive
• Pharmaceutical & healthcare
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Extensive product usage in food packaging may cause health problems owing to its excessive contact with food product. Stringent government regulations pertaining to limiting product usage in food & beverage may hamper industry profitability, thereby affecting ESBO market price trend.
Epoxidized soybean oil (ESBO) market from plasticizer application is estimated to surpass USD 355 million by 2024 owing to its usage in PVC plastics. It acts as plasticizer and as a forager for HCL emitted from polyvinyl chloride products, when they undertake heat treatment. These factors will foster industry growth. The product is used in plastic materials including PVC & its copolymers in order to keep these products flexible & soft, which may further propel industry growth.
Epoxidized soy oil market from pigment dispersion agent application is likely witness substantial gains of over 6% by 2024. ESBO is used as a pigment scattering agent and as an epoxy reactive diluent. Due to its controlled cost, non-toxic nature and eco-friendly properties along with its biodegradability as compared to other phthalate plasticizers, ESBO is likely to replace dioctyl phthalate (DOP) in industrial application. These product functions are likely to stimulate industry growth by 2024.
Browse key industry insights spread across 250 pages with 259 market data tables & 30 figures & charts from the report, “Epoxidized Soybean Oil Market” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/epoxidized-soybean-oil-market
ESBO market is likely foresee gains on account of its usage as raw materials for numerous applications which include polyol replacements, fuel additives, functional fluids, flavor & fragrances, agricultural and pharmaceutical molecules. The product act as a polymeric plasticizer and owing to its high molecular weight, it resists extraction, volatilization, and migration, which is likely to boost market growth in forecast timeframe.
Global epoxidized soybean oil market share is fragmented and competitive with key industry players including Flow Tech Group ADEKA, Arkema, INBRA, KLJ, Varteco, CHS Inc, Makwell, Valtris, Zhejiang Jiaao Enprotech Ltd., The Chemical Company. Manufacturers are involved JV, mergers & acquisitions, and partnership in order to implement ground-breaking technologies with increasing production capacities to cater growing ESBO demand.
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