The global epoxidized soybean oil market is estimated to be valued at USD 1.2 Bn in 2024 and, exhibiting a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031. Epoxidized soybean oil (ESBO) is a bio-based compound derived from highly purified soybean oil, which undergoes an epoxidation process. ESBO contains reactive epoxide groups which make it suitable for use as a plasticizer in PVC formulations and as a stabilizer for polymers, pigments, and fragrances. It is a safer and environmentally-friendly alternative to phthalate plasticizers. ESBO possesses favorable properties like flexibility, non-toxicity, and heat and light resistance. The growing environmental consciousness and implementation of stringent regulations on phthalates have boosted the demand for natural and bio-based ESBO around the world.
Market Dynamics:
Global epoxidized soybean oil market is driven by the rising preference for eco-friendly and bio-based products over petrochemical-derived compounds. Stringent government regulations regarding the use of phthalate plasticizers along with regulatory push for sustainable solutions also augment the market growth. Ease of availability and lower manufacturing cost as compared to other epoxies further support the demand for ESBO. However, fluctuating soybean oil prices remain a key challenge. Moreover, the availability of substitutes like sulfonated vegetable oil may hinder the market expansion. Opportunities lie in the development of ENSO for specialized industrial applications and increased R&D for new derivatives.
Key features of the study:
- This report provides an in-depth analysis of the global epoxidized soybean oil market, and provides market size (USD Bn) and compound annual growth rate (CAGR %) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global epoxidized soybean oil market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include 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, and Chaohu Xiangfeng Plastic Aids Co., Ltd
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global epoxidized soybean oil market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global epoxidized soybean oil market.
Detailed Segmentation
- By Raw Material:
- Soybean Oil
- Hydrogen Peroxide
- Others (Formic Acid and Acetic Acid)
- By Application:
- Plasticizers
- Pigment Dispersion Agents
- Flavor & Fragrances
- Functional Fluids
- Fuel Additives
- By End Use Industry
- Food & Beverages
- Personal & Healthcare
- Adhesives & Sealants
- Automotive & Transportation
- Others (Agriculture, etc.)
- Regional
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Company Profiles:
- 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
