DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Epoxidized Soybean Oil Market by Raw Material (Soybean Oil, Hydrogen Peroxide), Application (Plasticizers, UV Cure Applications, Fuel Additives), End-use Application (Foods & Beverages, Adhesives & Sealants, Automotives) - Global Forecast to 2026" report to their offering.
The global Epoxidized Soybean Oil (ESBO) market is projected to reach USD 691.7 Million by 2026, at a CAGR of 11.04% from 2016 to 2026. Epoxidized soybean oil is experiencing a high demand from the plastic additives industries in the North American region.
The new product developments and acquisitions & mergers strategies undertaken by different companies for more eco-friendly applications are the key factors driving the growth of the global epoxidized soybean oil market.
Though the global epoxidized soybean oil market is growing at a fast pace, a few factors are hampering the growth of this market. The health hazards due to excess usage in the foods & beverages industry is a major restraint in the growth of the global epoxidized soybean oil market.
Most of the countries are focusing on bio-based additives for a sustainable environment. As epoxidized soybean oil serves as an additive for bio-plasticizers, it replaces the conventional phthalate plasticizers. Phthalate plasticizers are hazardous and hence are banned in personal, healthcare, and foods & beverages applications in some regions.
Epoxidized soybean oil is serving as an alternative to phthalate plasticizers and hence complies with the standards set by regulatory bodies in the European Union, such as Regulation, Evaluation, Authorization and the Restriction of Chemicals (REACH).
Companies such as, Arkema SA (France), The DOW Chemical Company (U.S), Galata Chemicals (U.S), CHS Inc. (U.S), Ferro Corporation (U.S), are the leading market participants in the global epoxidized soybean oil market.
Market Dynamics
Drivers
Short-Term Drivers
- High Adoption of Organic Stabilizers in Polyvinyl Chloride (Pvc) Stabilization Process
Mid-Term Drivers
- Biocompatible Lubricants - an Emerging Alternatives for Mineral Oil-Based Lubricant
Long-Term Driver
- Easy Availability of Esbo in Large Volume and at Low Price - Competitive Advantage Over the Other Bio-Based Oils
Restraints
- Health Hazardous Due to Excess Usage of Esbo in Food & Beverages Industry
Opportunities
- Growing Prominence of Phthalate-Free Stabilizers - Opportunity for Esbo Producers in Pvc Applications to Maximize Their Market Share
Challenges
- Monotonic Properties of Esbo Creates Less Product Competitiveness
Companies Mentioned
- Adeka Corporation
- American Chemical Service
- Anhui Tianyi Environmental Protection Tech. Co.,Ltd
- Arkema Sa
- Chang Chun Petrochemical Co., Ltd.
- Chaohu Xiangfeng Plastic Aids Co., Ltd
- CHS Inc.
- Ferro Corporation
- Fujian Zhishang Biomass Materials Co., Ltd.
- Galata Chemicals Llc
- Guangzhou Xinjinlong Chemical Additives Co. Ltd.
- Hairma Chemicals (Gz) Ltd.
- Hallstar
- Hebei Jingu Plasticizer Co., Ltd.
- Inbra Indústrias Químicas, Ltda.
- Makwell Plasticizers Pvt Ltd., Llc
- Nan Ya Plastics Corporation
- PT Halim Sakti Pratama
- Puyang Chengyi Plasticizer Co. Ltd
- Shandong Longkou Longda Chemical Industry Co., Ltd.
- Shandong Novista Chemicals Co.,Ltd (Novista Group)
- Shenzen Kaiqi Chemical Co., Ltd.
- The Chemical Company
- The Dow Chemical Company
- Zhejiang Jiaao Enprotech Stock Co., Ltd.
For more information about this report visit http://www.researchandmarkets.com/research/86bdkl/epoxidized
