“High adoption of organic stabilizers in the Polyvinyl Chloride (PVC) stabilization process driving the Epoxidized Soybean Oil (ESBO) Market”
The global epoxidized soybean oil market is projected to reach USD 691.7 million by 2026, at a CAGR of 11.04% from 2016 to 2026. Increasing demand for phthalate-free stabilizers due to stringent regulations on the use of phthalate stabilizers is the major driving factor for the epoxidized soybean oil market, as PVC producers across the globe are focusing on use of phthalate-free stabilizers in order to meet the environmental regulations. ESBO finds applications in the foods & beverages industry in metal lid gaskets of glass jars, which can cause contamination of ESBO with food products. Therefore, health hazards due to the excess usage of ESBO in the foods & beverages industry is a challenge which could hinder the growth of the ESBO market.
“UV Cure applications, the fastest growing application segment for epoxidized soybean oil”
UV Cure technology is used in numerous industrial applications such as, drying inks, adhesives, coatings, printing, and other UV-sensitive materials. It is the most effective process of transforming a liquid coating film into a solid film with the help of petroleum-based products as intermediates. UV cure processing provides high operational speeds at lower operational costs and requires less physical labor while guaranteeing less work-space usage and operational safety. ESBO is used in UV cure applications to provide ecological and environmentally friendly resolutions by acting as a substitute for petroleum-based products. The low cost, low toxicity, biodegradability, and flame resistance are a few factors driving ESBO consumption in the UV cure segment.
“North America, the largest & Europe, the fastest growing market for epoxidized soybean oil”
The Asia-Pacific region is the second-largest market for epoxidized soybean oil globally. There is tremendous scope for the use of epoxidized soybean oil in the North American market due to the demand for ESBO in end-use industries such as in the PVC stabilization and plasticization processes. The U.S. is a major consumer of epoxidized soybean oil in North America. Europe is the fastest growing and the third-largest market for epoxidized soybean oil after North America and the Asia-Pacific region. The European Union (EU) has imposed strict environmental regulations for the use of phthalate-free plasticizers in foods & beverages packaging and other applications. These pre-requisites laid down by the EU have fueled the rapid growth of ESBO consumption in Europe.
This study has been validated through primary interviews conducted with various industry experts globally. These primary sources have been divided into three categories: by company; by designation; and by region.
- By Company Type- Tier 1- 60%, Tier 2- 30% and Tier 3- 10%
- By Designation- C Level- 40%, Director Level- 30%, Others- 30%
- By Region- North America- 10%, Asia-Pacific- 50%, Western Europe- 20%, and Middle East & Africa- 20%
The report also includes company profiles and competitive strategies adopted by the major market players such as, Arkema SA (France), The DOW Chemical Company (U.S), Galata Chemicals (U.S), CHS Inc. (U.S), Ferro Corporation (U.S), The Chemical Company (U.S), Hairma Chemicals (GZ) Ltd.(China), Shandong Longkou Longda Chemical Industry Co., Ltd. (China), Guangzhou Xinjinlong Chemical Additives Co. Ltd. (China), Inbra Ind?strias Qu?micas, Ltda.(Brazil), Makwell Plasticizers Pvt. Ltd.(India), and Shenzen Kaiqi Chemicals Co., Ltd.(China).
The report covers the global epoxidized soybean oil market across different applications and regions. It aims at estimating the market size and future growth potential of this market across different segments such as, type, application, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies. The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenues for the overall epoxidized soybean oil market.
Reasons To buy this report:
From an insight perspective, this research report has focused upon various levels of analyses ? industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the epoxidized soybean oil market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on epoxidized soybean oil offered by the top players in the global epoxidized soybean oil market.
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the epoxidized soybean oil market.
- Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for epoxidized soybean oil across regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global epoxidized soybean oil market.
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global epoxidized soybean oil market.