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Epoxidized Soybean Oil Market set for massive growth | Key Players are Hallstar, Inbra Indústrias Químicas, Arkema, CHS Inc., Valtris Specialty Chemicals, The Chemical Company
Epoxidized Soybean Oil Market
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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
Speaking of which, phthalates are a group of synthetic chemicals that are extensively used in several consumer products that include medical devices, building materials, packaging and children’s toys and childcare products made from polyvinyl chloride (PVC). Lately, the chemical has been identified as a developmental and reproductive toxicant. Moreover, the US EPA classified DEHP and BBP as possible human carcinogens respectively. Epoxidized soya bean oil serves as the perfect alternative against phthalates in order to build plasticizers and heat stabilizers, thereby propelling epoxidized soybean oil market size.
The rapid emergence of biocompatible lubricants due to stringent regulations applicable to mineral-oil-based lubricants and their non-biodegradable toxic wastes may also impact the epoxidized soybean market positively. Before hitting the epoxidized soybean oil market, vegetable lubricants made from vegetable oil are required to overcome some poor performance characteristics like thermal and oxidative instabilities. This helps demonstrate the improved performance of epoxidized soybean oil in certain high-temperature lubricant applications.
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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.
Epoxidized soybean oil 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.
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
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