Epoxidized Soybean Oil Market worth 691.7 Million USD by 2026 | Key Players include The DOW Chemical Company, Galata Chemicals LLC, CHS Inc., Ferro Corporation, and others.

According to recent market research "Epoxidized Soybean Oil Market by Raw Material (Soybean Oil, Hydrogen Peroxide), Application (Plasticizers, UV Cure Applications, Fuel Additives), End-use Application (Foods & Beverages, Adhesives & Sealants, Automotives) - Global Forecast to 2026", The global Epoxidized Soybean Oil (ESBO) market is projected to reach USD 691.7 Million by 2026, at a CAGR of 11.04% from 2016 to 2026.

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The growth is fueled by the expected high demand from the application segment due to the easy availability of epoxidized soybean oil in large volumes, and at lower prices. Further, the global demand for epoxidized soybean oil in the North American, Asia-Pacific, and European regions is growing due to stringent environmental regulations. Epoxidized soybean oil is preferred as against phthalate-free stabilizers in PVC applications, and hence ESBO is used widely as an additive in plasticizers.

Soybean seeds are crushed in order to obtain soybean oil for use in manufacturing epoxidized soybean oil. For the production of ESBO, soybean oil is used as the basic raw material. As compared to other bio-based oils, soybean oil is preferred by oleo chemicals producers due to its low cost and easy availability. The use of ESBO helps application industries to reduce production costs and to maximize profitability margins.

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The global market for epoxidized soybean oil is projected to reach USD 691.7 Million by 2026, at a CAGR of 11.04% from 2016 to 2026. The growing demand for epoxidized soybean oil from major application industries such as, PVC & PVA plasticizers, UV cure applications, and other industrial applications in emerging economies are driving.

New product developments was the key strategy adopted by industry players to boost their growth in the global epoxidized soybean oil market. This strategy accounted for a share of 50%, between 2010 and 2016, of all the growth strategies adopted by market players to expand their product portfolios. Besides new product developments, companies are investing in new joint ventures & partnerships across the world. The joint ventures & partnerships strategy accounted for a 30% share of all the development strategies between 2010 and 2016. Companies also focused on acquisitions & mergers and expansions strategies between 2010 and 2016, which accounted for a 10% share for each of the strategic developments. The Asia-Pacific region was the most active region from 2010 to 2016, in terms of strategic initiatives. New product developments was one of the preferred strategies in this region. Companies such as Galata Chemicals made various new product developments and acquisitions to increase their production capacity in epoxidized soybean oil.

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Galata Chemicals (U.S) is the most active player in the epoxidized soybean oil market. It accounted for the largest share of all the developmental activities undertaken in the epoxidized soybean oil market. As part of its strategy, the company focuses on expanding its epoxidized soybean oil business by investing into new product development activities, mergers & acquisitions, and joint ventures & partnerships. In April 2012, Galata Chemicals (U.S.) launched DRAPEX Alpha, a natural oil-based primary plasticizer technology to replace the conventional petroleum-based plasticizers with similar cost performance features. This product was launched to fulfill growing consumer demands for sustainable products and phthalate alternatives while enhancing process-ability and improving extraction resistance.

In April 2014, Artek Surfin Chemicals Ltd. (India) acquired 100% ownership by acquiring the Aterian Investment Partners (New York) shares of Galata Chemicals (U.S.), thus making Artek Surfin the immediate parent and controller of Galata Chemicals epoxidized soybean oil and other product manufacturing processes.

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