Epoxidized Soybean Oil Market To Get Significant Proceeds By 2025
Category: #reports  By Rahul Sankrityayan  Date: 2020-06-15
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Epoxidized Soybean Oil Market To Get Significant Proceeds By 2025

Epoxidized soybean oil market from coatings will exceed USD 30 million by 2024. These coating provides hardness, adhesion, flexibility, tensile strength and impact resistance. In the coating industry product is utilized for the preparation of alkyds, hence intensifying market growth.

Rising demand for bio-based products to curb emission levels will propel epoxidized soybean oil market growth. This can be ascribed to significant efforts taken by producers and regulatory authorities. Increasing innovation with development of cost-effective additives, may open avenues for companies and drive ESBO demand.

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Regional Growth drivers are

  1. North America: Swift growth in plasticization and PVC industry may boost product demand.
  2. Europe: Growing adhesives & sealants and food & beverage industries.
  3. Asia Pacific: Easy availability of raw material.

Stringent government regulations by agencies including EU Commission, EPA and FDA for utilization of phthalate plasticizers would drive epoxidized soybean oil demand in the predicted timeline. The product is extensively preferred in plastic manufacturing owing to its combining plasticizing and stabilizing action in PVC engineering.

High utilization of the product in food & beverage packaging may release HCL due to its direct contact with food ingredient which is likely to increase toxicity of the food preparations, thus limiting industry growth. Strict guidelines distressing to limiting product usage in food & beverage may hinder industry profitability, affecting epoxidized soybean oil market price trends.

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Germany epoxidized soybean oil market is projected to exceed USD 35 million by 2024 owing to presence of several food & beverage and automotive manufacturers. R&D initiatives with extension in product range by numerous producers will escalate industry growth. Increase in per capita income with stringent guidelines for bio-based products should fortify regional industry growth.

China epoxidized soybean oil (ESBO) market may observe significant gains over 6.5% up to 2024. Increasing awareness of negative toxic influences is driving market growth in automotive, adhesives & sealants, food & beverage, pharmaceutical and healthcare sectors. Shifting consumers preferences for cost efficient products is propelling product demand.

Epoxidized soybean oil market from automotive may observe significant gains up to 6% by 2024. The automotive industry is likely to grow significantly owing to changing consumer purchasing patterns and rising standard of living, which would positively impact market share.

Epoxidized soybean oil (ESBO) industry is moderately fragmented and highly competitive with key industry players including Flow Tech, HallStar, Shital Group, Valtris, Adeka, INBRA, Nan Ya Plastic, and Makwell. Manufacturers are investing profoundly in R&D activities, product innovation and capacity expansion for escalating market growth.

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About Author

Rahul Sankrityayan

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Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Technology Magazine, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experie...

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