Epoxidized soybean oil market to accrue significant proceeds by 2024

Germany epoxidized soybean oil market is expected to register healthy CAGR during the forecast period. owing to presence of several food & beverage and automotive manufacturers. R&D initiatives with extension in product range by numerous producers will escalate industry growth. Increase in per capita income with stringent guidelines for bio-based products should fortify regional industry growth.

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The global epoxidized soybean oil market, in the years to come, is estimated to register significant growth prospects, attributed to the product’s vast end user landscape. Epoxidized soybean oil is commonly used as a plasticizer and heat stabilizer in several food contact materials, particularly in vinyl chloride or PVC films and gaskets. Currently, the product’s immense popularity can be primarily credited to the enforcement of stringent regulations against the use of phthalate stabilizers.

Stringent government regulations by agencies including EU Commission, EPA and FDA for utilization of phthalate plasticizers would drive epoxidized soybean oil demand in the predicted timeline. The product is extensively preferred in plastic manufacturing owing to its combining plasticizing and stabilizing action in PVC engineering.

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.

High utilization of the product in food & beverage packaging may release HCL due to its direct contact with food ingredient which is likely to increase toxicity of the food preparations, thus limiting industry growth. Strict guidelines distressing to limiting product usage in food & beverage may hinder industry profitability, affecting epoxidized soybean oil market price trends.

China epoxidized soybean oil market may observe significant gains over 6.5% up to 2024. Increasing awareness of negative toxic influences is driving market growth in automotive, adhesives & sealants, food & beverage, pharmaceutical and healthcare sectors. Shifting consumers preferences for cost efficient products is propelling product demand.

Epoxidized soybean oil industry from coatings will exceed USD 30 million by 2024. These coating provides hardness, adhesion, flexibility, tensile strength and impact resistance. In the coating industry product is utilized for the preparation of alkyds, hence intensifying market growth.

Epoxidized soybean oil market from lubricants may witness strong gains over 4% by 2024. The product substitutes petroleum-based lubricants owing to their non-toxicity and biodegradability. Bio-based lubricants have a high viscosity index flash point, and lower evaporative loss. Rising prices of petroleum-based products and high emission rates will propel product demand.

Table Of Content For This Research Report:

Chapter 4  Epoxidized soybean oil Market, By Raw Material

4.1   Key raw material trends

4.2   Soybean oil

4.2.1  Market estimates and forecast, 2013 – 2024

4.2.2    Market estimates and forecast, by region, 2013 - 2024, (Kilo Tons) (USD Million)

4.2.3   Hydrogen peroxide

4.2.3.1    Market estimates and forecast, 2013 – 2024

4.2.3.2    Market estimates and forecast, by region, 2013 - 2024, (Kilo Tons) (USD Million)

4.2.4   Formic acid

4.2.4.1    Market estimates and forecast, 2013 – 2024

4.2.4.2    Market estimates and forecast, by region, 2013 - 2024, (Kilo Tons) (USD Million)

4.2.5   Acetic acid

4.2.5.1    Market estimates and forecast, 2013 – 2024

4.2.5.2    Market estimates and forecast, by region, 2013 - 2024, (Kilo Tons) (USD Million)

4.2.6   Others

4.2.6.1    Market estimates and forecast, 2013 – 2024

4.2.6.2    Market estimates and forecast, by region, 2013 - 2024, (Kilo Tons) (USD Million)

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Epoxidized soybean oil market from automotive may observe significant gains up to 6% by 2024. The automotive industry is likely to grow significantly owing to changing consumer purchasing patterns and rising standard of living, which would positively impact market share.

Epoxidized soybean oil (ESBO) industry is moderately fragmented and highly competitive with key industry players including Flow Tech, HallStar, Shital Group, Valtris, Adeka, INBRA, Nan Ya Plastic, and Makwell. Manufacturers are investing profoundly in R&D activities, product innovation and capacity expansion for escalating market growth.

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