Epoxidized Soybean Oil Market: Global Industry Size, Analysis and Forecast to 2024

Epoxidized Soybean Oil Market: Global Industry Size, Analysis and Forecast to 2024

Epoxidized Soybean oils have become an invaluable chemical in stabilizers and plasticizers for PVC resins. In recent years, there has been growing inclination to boost epoxidized soybean oil (ESBO) productivity as the substance is perceived to be an apt substitute of phthalates.

ESBO will continue to gain traction as a green plasticizer for polyvinyl chloride, while it is being sought-after as a green resin using the reactive epoxy groups. Some of the aspects such as little toxicity, low cost, and large production have fared well for stakeholders.

In the recently compiled research report by Global Market Insights, Inc., epoxidized soybean oil market size is estimated to witness considerable gains by 2024.

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Trend in food and beverage application

Traction for epoxidized soybean oil in food & beverage industry will fuel growth as epoxidation continues to expand its penetration in vegetable oil.  It is worth noting that vegetable oils have become popular as a bio-based class of plasticizers as they are gaining grounds for being migration resistant, PVC compatible and having high temperature stability.

Profound use of plasticizers in adhesives & sealants, paints and rubber products is likely to continue for the next five years. In addition, rigorous regulations implemented by watchdogs such as Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH) confining the use of phthalates has propelled ESBO business outlook. It is worth noting that leading companies are opting for ESBO as an eco-friendly plasticizer.

With leading companies eyeing to cash in on the synthesis of plasticizers from vegetable oils, trend for ESBO is likely to be witnessed in the ensuing period.

Traction for ESBO in pharmaceutical industry

Pharmaceutical and healthcare application will generate sizeable revenue with plastic infusion tubing being prevalently made of PVC.  Following the popularity of ESBO in food packaging as a less toxic plasticizer, its use has become prevalent as a thermal stabilizer in tubing. For instance, plasticizer is being used in Europe for medical devices and PVC containers are being vouched for use with blood components, blood and aqueous solutions for intravenous infusion.

Increased traction for phthalate-free stabilizers in the light of clampdown on the use of phthalate will augur well for epoxidized soybean oil market size expansion.

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Growth opportunities stemming in North America

Stakeholders are eyeing to boost their automotive portfolio amid government agencies striving to reduce fuel emissions. Prominently, biocompatible lubricants are being sought-after to do away with the toxic nature of mineral oil-based lubricants.

North America is likely to be replete with investments as developed countries such as U.S. witness increased palpability for epoxidize soybean oil in a range of end-use applications, including automotive, food packaging and pharmaceuticals. Leading companies are eyeing to expand their portfolios and project epoxidized soybean oil market share to gain substantial ground in the next five years.

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.

 

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