Press release
Epoxidized Soybean Oil Market Estimated to Flourish at by 2024 - 2031 | Makwell Plasticizers Pvt Ltd., Llc
Market Overview:Epoxidized soybean oil (ESBO) is a bio-based plasticizer produced from soybean oil oxidation through organic peroxide. It is used in plastic formulations as a substitute for petroleum-based plasticizers.
Market Dynamics:
The Epoxidized Soybean Oil Market is expected to exhibit significant growth over the forecast period owing to rising demand from plastic additive applications. Approximately 60% of ESBO produced globally is consumed in PVC applications as a replacement for phthalate plasticizers. Growing environmental concerns regarding phthalate toxicity are driving demand for bio-based and non-toxic plasticizers such as ESBO. Furthermore, increasing spend on infrastructure development in emerging economies is also fueling market growth as ESBO enhances flexibility and durability in concrete admixtures. The market is also expected to gain from widespread adoption of bio-based products to meet sustainability goals.
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Major Growth Driver: Increasing Demand for Bio-Based Materials in Industries like Coating & Adhesives
Epoxidized soybean oil (ESO) is gaining traction as a prominent bio-based material owing to its availability, sustainability and performance benefits over petroleum-based alternatives. It is widely used as a reactive diluent in coatings, adhesives and sealants industries due to its compatibility with a variety of resins and polymers. ESO provides properties like flexibility, toughness and adhesion to coatings formulations while reducing their VOC emissions. The growing environmental consciousness and stringent regulations regarding use of petrochemical-derived compounds are prompting coating manufacturers to replace petrochemical epoxy resins with bio-epoxies like ESO. Its increasing adoption in specialty high-performance coatings for automotive, industrial and maritime applications is a major factor fueling the epoxidized soybean oil market growth.
Promising Market Opportunity: Innovations in Production Technologies
Constant research and development towards improving production technologies of epoxidized soybean oil presents a promising growth opportunity for manufacturers. Advancements include development of new homogeneous and heterogeneous catalytic systems for epoxidation reaction which can enhance the ESO yield and reduce production costs. Areas being explored are use of novel supported solid catalysts with improved activity and reusability over conventional homogeneous catalysts. Secondly, microwave-assisted epoxidation is gaining focus as it offers selective, energy-efficient and environmentally sustainable production process compared to conventional thermal epoxidation. Continuous modifications in catalyst formulation and process parameters can help optimize the ESO production and scale-up its applications viability across industries. This in turn would support volumetric sales of epoxidized soybean oil over the forecast period.
Significant Market Trend: Rising Demand for High Oxidized and Functionalized Epoxidized Soybean Oil
A noteworthy trend witnessed in the global epoxidized soybean oil market is the surging demand for highly oxidized and functionalized grades of ESO. Conventionally, ESO with epoxide equivalent weight 160-175 was widely used. However, formulators are now preferring specialty ESO variants with higher epoxide content, hydroxyl group substitution or fatty acid modification for enhanced performance in end-use applications. These functionalized soybean oils impart tailor-made properties like hydrophilicity, hydrophobicity, reactivity and polymer compatibility required for next-generation products. They are gaining application scope in high-solids
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Top Companies Featured in This Report:
★ Makwell Plasticizers Pvt Ltd.
★ Llc
★ Shenzen Kaiqi Chemical Co., Ltd.,
★ Arkema SA
★ Chs Inc.
★ Ferro Corporation
★ Hairma Chemicals (Gz) Ltd.
★ Anhui Tianyi Environmental Protection Tech. Co.,Ltd
★ Shandong Novista Chemicals Co.,Ltd (Novista Group)
★ Adeka Corporation
★ Hallstar
★ American Chemical Service
★ Zhejiang Jiaao Enprotech Stock Co., Ltd.,
★ Fujian Zhishang Biomass Materials Co., Ltd.,
★ Chang Chun Petrochemical Co., Ltd.,
★ NAN YA Plastics Corporation
★ Hebei Jingu Plasticizer Co., Ltd.,
★ Puyang Chengyi Plasticizer Co. Ltd
★ Chaohu Xiangfeng Plastic Aids Co.
★ Ltd
Market Segmentation:
By Product Type:
★ By Raw Material: Soybean Oil , Hydrogen Peroxide, Others (Formic Acid and Acetic Acid)
★ By End Use Industry: Food & Beverages, Personal & Healthcare, Adhesives & Sealants, Automotive & Transportation, Others (Agriculture, etc.)
By Applications:
★ By Application: Plasticizers, Pigment Dispersion Agents, Flavor & Fragrances, Functional Fluids, Fuel Additives
Key Regions/Countries are Classified as Follows:
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
South America (Brazil, Argentina, Rest of SA)
Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Reasons to Obtain Our Comprehensive Market Report:
• Conduct an extensive analysis of various aspects of the Epoxidized Soybean Oil Market utilizing Porter's Five Forces framework.
• Gain insights into the growth rate and market shares of different product types and applications/end-users within the Epoxidized Soybean Oil Market.
• Explore the Epoxidized Soybean Oil Market dynamics across different regions through comprehensive regional analysis.
• Assess the impact of Covid-19 on the Epoxidized Soybean Oil Market with a meticulous research approach.
• Stay updated on the latest developments, market shares, and strategies of key market players within the Epoxidized Soybean Oil Market.
• Delve into a thorough evaluation of the market strategies, geographical presence, and business segments of the top players in the Epoxidized Soybean Oil Market.
• Anticipate key challenges, product advancements, and solutions that may influence the market's progression and threats.
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Key Questions Answered:
• What was the size of the Epoxidized Soybean Oil Market in 2021, and what will it be worth by 2030?
• What is the current global scenario for the Epoxidized Soybean Oil Market?
• What are the optimal business strategies for maximizing growth potential?
• What are the recent trends in the Epoxidized Soybean Oil Market?
• What is the market share in terms of revenue, sales, and size in specific geographical regions?
• Who are the key industry players in the Epoxidized Soybean Oil Market?
• Which segments of the Epoxidized Soybean Oil Market are in high demand?
Author Bio:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
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Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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