Press release
Epoxidized Soybean Oil Market to Develop New Growth Story 2024 - 2031 | Makwell Plasticizers Pvt Ltd., Llc
Epoxidized Soybean Oil Market
The global epoxidized soybean oil market is estimated to be valued at USD 1.2 Bn in 2024 and is expected to reach USD 1.6 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.
Market Dynamics:
Epoxidized soybean oil finds widespread usage in functional foods as it acts as an emulsifier and additive. It improves food texture and shelf-life. Growth in food processing industry especially in Asia Pacific is expected to drive the demand. Further, increasing plastics and polymer production across the globe owing to growth in automotive and construction industries will also contribute to market growth over the forecast period. ESBO is emerging as a safer alternative to phthalate plasticizers owing to regulatory support against phthalates. This growing acceptance of ESBO as a 'green' plasticizer is anticipated to create new opportunities for manufacturers over the forecast period.
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Epoxidized Soybean Oil Market Drivers
Increased usage of epoxidized soybean oil as a plasticizer substitute in PVC and other polymers
Epoxidized soybean oil is widely being used as an alternative to phthalate plasticizers in PVC and other polymers. It is a bio-based and safer substitute for phthalates which are known endocrine disruptors. Many regulations worldwide have banned the use of phthalates in certain applications due to health hazards. This is increasing the demand for epoxidized soybean oil from various industries like building & construction, automotive, wires & cables etc. where plasticized PVC is extensively used. The inherent advantages of epoxidized soybean oil like compatibility with PVC, flexibility, adhesion properties etc. are fueling its adoption.
Epoxidized Soybean Oil Market Opportunity
Utilization in thermoset composite applications
Epoxidized soybean oil is emerging as a viable substitute for petroleum-based reactants in manufacturing thermoset composite materials. Composites reinforced with glass, carbon or natural fibers and molded with epoxidized soybean oil find expanding use in wind turbine blades, pipes, vehicle parts etc. due to their high strength and corrosion resistance. Unlike unsaturated polyester resins, epoxidized soybean oil based composites exhibit improved mechanical properties, water resistance and heat tolerance. They also help reduce the composite material's carbon footprint. Leading composite makers are actively researching the potential of epoxidized soybean oil to manufacture next-gen sustainable and high performance composites for various industries.
Epoxidized Soybean Oil Market Trend
Growing demand from electrical encapsulants and coatings
The use of epoxidized soybean oil is witnessing a sharply rising trend in manufacturing electrical encapsulants and coatings. These products require non-hygroscopic, thermoset and flexible properties to safely encapsulate and protect electrical components from moisture, vibration and thermal cycling. Epoxidized soybean oil delivers the desired performance characteristics and enhances reliability. It provides an effective alternative to petroleum-derived glycidyl ethers traditionally used as reactive diluents in electrical encapsulants. Major players in the electronic industries have started utilizing epoxidized soybean oil formulations for potting, casting and impregnating applications owing to performance gains and sustainability factor.
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Top Companies Featured in This Report:
★ Makwell Plasticizers Pvt Ltd.
★ Llc
★ Shenzen Kaiqi Chemical Co., Ltd.,
★ Arkema SA
★ Chs Inc.
★ Ferro Corporation
★ Hairma Chemicals (Gz) Ltd.
★ Anhui Tianyi Environmental Protection Tech. Co.,Ltd
★ Shandong Novista Chemicals Co.,Ltd (Novista Group)
★ Adeka Corporation
★ Hallstar
★ American Chemical Service
★ Zhejiang Jiaao Enprotech Stock Co., Ltd.,
★ Fujian Zhishang Biomass Materials Co., Ltd.,
★ Chang Chun Petrochemical Co., Ltd.,
★ NAN YA Plastics Corporation
★ Hebei Jingu Plasticizer Co., Ltd.,
★ Puyang Chengyi Plasticizer Co. Ltd
★ Chaohu Xiangfeng Plastic Aids Co.
★ Ltd
Market Segmentation:
By Product Type:
★ By Raw Material: Soybean Oil , Hydrogen Peroxide, Others (Formic Acid and Acetic Acid)
★ By End Use Industry: Food & Beverages, Personal & Healthcare, Adhesives & Sealants, Automotive & Transportation, Others (Agriculture, etc.)
By Applications:
★ By Application: Plasticizers, Pigment Dispersion Agents, Flavor & Fragrances, Functional Fluids, Fuel Additives
Key Regions/Countries Classified as Follows:
» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Key Inquiries Addressed in this Report include:
What was the size of the Epoxidized Soybean Oil Market in 2024, and what is the projected value by 2031?
What is the present global market landscape for the Epoxidized Soybean Oil Market?
What strategies offer optimal opportunities for growth maximization in the business?
What recent trends are shaping the Epoxidized Soybean Oil Market?
How does the market share of Epoxidized Soybean Oil Market revenue, sales, and size vary across specific geographical regions?
Who are the prominent industry players in the Epoxidized Soybean Oil Market?
Which segment of the Epoxidized Soybean Oil Market is experiencing heightened demand?
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the Epoxidized Soybean Oil sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
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Author Bio:
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)
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