Epoxidized Soybean Oil (ESBO) Market Size to hit $650mn by 2024
Published Date: December 3, 2018 Authors: Kunal Ahuja, Sonal Singh
Epoxidized Soybean Oil (ESBO) Market size is set to surpass USD 650 million by 2024; according to a new research report by Global Market Insights, Inc.
Epoxidized soybean oil (ESBO) market size is anticipated to witness strong gains on account of its usage as plasticizer in numerous industries including construction & agriculture. The product is manufactured by soybean oil using epoxidation process. The epoxidized form of soybean is oil being accepted in numerous industries for its non-toxic nature including its application as stabilizer for PVC, which may fuel product demand by 2024.
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.
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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.
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.
Browse key industry insights spread across 250 pages with 259 market data tables & 30 figures & charts from the report, “Epoxidized Soybean Oil Market Size By Raw Material (Soybean Oil, Hydrogen Peroxide, Formic Acid, Acetic Acid),By Application (Plasticizers, Fuel Additive, Flavor & Fragrances, Coatings, UV Cure, Agricultural Chemicals, Lubricants, Pigment Dispersion Agent, Surfactants, Cutting Oils, Functional Fluids), By End-Use (Food & Beverage, Adhesives & Sealants, Automotive, Pharmaceutical & healthcare), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
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.
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.
Epoxidized soybean oil (ESBO) market research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in tons and revenue in USD from 2013 to 2024, for the following segments:
ESBO Market, By Raw Material
- Soybean oil
- Hydrogen peroxide
- Formic acid
- Acetic acid
ESBO Market, By Application
- Fuel additive
- Flavors & Fragrances
- UV care
- Agriculture chemicals
- Pigment Dispersion Agent
- Cutting oils
- Functional fluids
ESBO Market, By End-Use
- Food & Beverage
- Adhesives & Sealants
- Pharmaceutical & healthcare
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- South Korea
- Saudi Arabia
- South Africa