According to the new market research report by IndustryARC titled “Epoxidized Soybean Oil Market: By End User (Food & Beverage, Agriculture, Coatings, Healthcare & Pharmaceuticals, Construction Adhesives & Sealants); By Application (Plasticizers, Pigment Dispersive Agents and Others) & Geography -Forecast (2018-2023)”, the market is driven by developed end-user segments, especially the Food and Beverage segment.
Epoxidized Soybean Oil (ESBO) is one of the most prevalent epoxidized oleo-chemicals in the market. This yellowish viscous fluid is more reactive than alternatives such as polyunsaturated vegetable oils and thus, exhibits increased adoption. By 2023, ESBO market is estimated to witness an upsurge due to the growing availability and development of advanced technologies for renewable resources. This market is anticipated to grow at a CAGR of 2.59% during the forecast period between 2017 and 2023.
Americas continues to lead the Epoxidized Soybean Oil Market share during 2018-2023.
Americas holds a major share in Epoxidized Soybean Oil Market, followed by Asia-Pacific and European region. Americas held $144.2 million in 2017 and is projected to reach $151.8 by 2023 at a CAGR of 2.3%. Europe projects to register the highest growth rate of 3.4% during 2018-2023, followed by Asia-Pacific and the Americas. Also, Europe is expected to be the third largest producer and is expected to show significant growth in the future. In Americas, the U.S. is the major producer, followed by Canada and Mexico. The Asia-Pacific region, especially China, has been the pioneer in innovation, manufacturing, and export of a wide variety of ESBO, thereby becoming one of the world’s largest net exporter after Americas.
In Americas, the major segment is Construction which is estimated to register $29.1 million by 2023, at the highest CAGR of 2.9% throughout the forecast period.
Selected / Sample Analysis done in the full Report:
The production of soybean along with its trading in the market is the initial and crucial aspect of this chain. The harvest directly impacts the soybean trading prices, which in turn is influential in determining soybean oil prices.
Once the soybean seeds are produced and dried, extractors press and crush the seeds to process soybean oil. Utmost care is taken to refine and purify the soybean oil while maintaining the product quality simultaneously.
The successive stages involve the production of epoxidized soybean oil through various established techniques such as chemical treatment, acid ion exchange, metal catalyst and epoxidation using enzymes. Apart from epoxidation techniques, the in-situ process is employed significantly along with limited utilization of continuous epoxidation process.
The final stage deals with the storage and distribution of epoxidized soybean oil in the markets. The key end-user applications for ESO are stabilizers, fuel additives, paints, coatings, and solvents. The need for bio-based products has been influential in driving the demand for ESO in recent times.
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Excerpts on Market Growth Factors Mentioned in the Full Report:
The growing need to replace petroleum-based polymers with thermosetting bio-based polymers has resulted in the growing adoption of products such as epoxidized soybean oil, which escalates the ESO market growth.
Emerging industrialization and manufacturing sector are the few leading industries driving the growth of Epoxidized Soybean Oil Market in France.
Increasing consumption of soybean oil for industrial applications to drive the epoxidized soybean oil market in the U.K.
The increasing demand for phthalate-free bio-based plasticizers in China is driving the growth of Epoxidized Soybean Oil Market in Asia-Pacific, especially in China.
Increasing demand for phthalate-free PVC plasticizers for food packaging materials and beverage can coatings is one of the important factor driving the market in South Korea.
Key Players of the Epoxidized Soybean Oil Market:
The key factor that has augmented the growth of top players in this highly competitive market is their adaptability to suit the customer requirements and early entrance into emerging application areas like adhesives and sealants along with coatings. The major key players of the Epoxidized Soyabean Oil Market are Arkema S.A., Dow Chemical Company and Ferro Corporation.
Epoxidized Soybean Oil Market Report is Segmented as below.
Epoxidized Soybean Oil Market By End-User:
Food & Beverage
Health-care & Pharmaceuticals
Adhesives & Sealants
Epoxidized Soybean Oil Market By Application:
Pigment Dispersive Agent
Flavour & Frgrances
Epoxidized Soybean Oil Market By Geography ( Covers 14+ Countries )
Epoxidized Soybean Oil Market Entropy
Companies Cited / Interviewed
GUANGZHOU HAIRMA CHEMICAL (GZ) LTD
MAKWELL PLASTISIZERS PVT LTD
VALTRIS SPECIALTY CHEMICALS
GUANGZHOU XINJINLONG CHEMICAL ADDITIVES CO. LTD
SHANDONG LONGKOU LONGDA CHEMICAL INDUSTRY
INBRA INDÚSTRIAS QUÍMICAS, LTDA.
THE CHEMICAL COMPANY
What can you expect from the report?
The Epoxidized Soybean Oil Market Report is Prepared with the Main Agenda to Cover the following 20 points:
Market Size by Product Categories
Top 10 End-user Analysis
Mergers & Acquisition Analysis
Demand Analysis ( By Revenue & Volume )
Country-level Analysis (15+)
Market Shares Analysis
Value Chain Analysis
Supply Chain Analysis
Current & Future Market Landscape Analysis
Revenue and Volume Analysis
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