Epoxidized Soybean Oil Market will see moderate growth and is estimated to reach USD 360.62 million by 2023

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Availability of ESBO in large volumes and at a very low cost drives the market. Continuous industrialization and growth in the manufacturing sector across the globe has led to the increasing consumption of ESBO in applications such as plasticizers and UV cure are set to augment the market over the $360.62 million mark by 2023.

According to the latest report “Epoxidized Soybean Oil Market: By End User (Food & Beverage, Agriculture, Coatings, Healthcare & Pharmaceuticals, Construction Adhesives & Sealants); By Application (Plasticizers, Pigment Dispersive Agents and Others) & Geography -Forecast (2017-2021)” published by IndustryARC, estimates the market to reach $360.262m by 2023.

Browse 10 Market Tables, 98 Figures spread through 125 slides and an in-depth TOC on “Global Epoxidized Soybean Oil Market (2017 – 2021)” – http://industryarc.com/Report/15508/epoxidized-soybean-oil-market.html

Epoxidized soybean oil is commonly known as (ESO/ESBO), which is manufactured by the process of epoxidisation from raw material such as soybean oil. Soybean oil is one of the most readily available and low-cost vegetable oils in the world. Epoxidized soybean oil is commercially available with a very lower price and in large volume. ESBO can be used in polyvinyl chloride (PVC) products (polyvinyl chloride films, gaskets, masterbatches, compounds), such as all kinds of food package materials, medical products, various kind of films, sheet materials, tubing, gaskets, refrigerator sealing strips, artificial leather, plastic wallpaper, electrical wires and cables, other plastic products and for food contact applications.

The global Epoxidized Soybean Oil market is estimated to grow at a CAGR of over 2.59% during the forecasted period and will reach $360.62 million in 2023. Health, Safety and Environment concerns with the resins, lubricants and adhesive components, along with growing demand from application segments. Moreover, growing regulatory pressures, combined with an increasing need by companies to demonstrate environmental responsibility, are helping move these technologies forward.

The market has been segmented based on end-user, applications and geography. This market classified based on end-user such as food & beverage, agriculture, coatings, healthcare & pharmaceuticals, construction, adhesives and sealants, and others. The market has been segmented into Americas, Asia-Pacific, Europe and Rest of the World (RoW) on basis of geography. Americas region held major share in global Epoxidized Soybean Oil market followed by Asia-pacific and European region in terms of revenue. The market is more prevalent in the countries of the U.S., China, India, UK, and Canada. Europe is estimated to witness fastest growth in terms of revenue during the forecast period especially from France and Germany owing to continuous industrialization and growth in the manufacturing sector.

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The Prominent Players in this Market Include

  • Arkema
  • Dow
  • Ferro Corporation
  • CHS Inc.
  • Galata Chemicals

Arkema and Dow are key players of the epoxidized soybean oil market in 2016 with a combined share of more than 30%. Ferro Corporation, CHS Inc., and Galata Chemicals among others are prominent players of the epoxidized soybean oil market in 2016. With various product launches, mergers, acquisitions, collaborations and other strategies, the key players are focused on increasing market shares in the industry.

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