Selbyville, Delaware, Dec. 06, 2018 (GLOBE NEWSWIRE) --
The global epoxidized soybean oil (ESBO) market is expected to grow from $300 million in 2017 to $650 million by 2024, according to a 2018 Global Market Insights, Inc. report. The market share 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 the ESBO market demand by 2024.
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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 epoxidized soybean oil market growth.
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.
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.
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 (U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, China, India, Japan, South Korea, Australia, Malaysia, Thailand, Brazil, Argentina, Saudi Arabia, UAE, South Africa), Application Potential, Price Trend, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/epoxidized-soybean-oil-market
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, epoxidized soybean oil 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.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.