According to the recent study the epoxidized soybean oil market is projected to grow at a CAGR of 11% from 2019 to 2024. Growth in this market is primarily driven by increasing adoption of organic stabilizers in polyvinyl chloride (PVC) stabilization process, growing demand for biocompatible lubricants, alternative for mineral oil based lubricant, and competitive advantage over the other bio-based oils.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in epoxidized soybean oil market by raw material (soybean oil, hydrogen peroxide, and others), application (plasticizer, pigment dispersion agent, flavor & fragrances, UV care applications, fuel additives and others), and region (North America, Europe, Asia-Pacific, and Rest of the World).
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“Plasticizer market is expected to remain the largest segment during the forecast period.”
Based on application, the epoxidized soybean oil market is segmented into plasticizer, pigment dispersion agent, flavor & fragrances, UV care applications, fuel additives and others. Lucintel forecasts that the plasticizer market is expected to remain the largest segment due to the increasing use of bio based materials to reduce the use phthalate in plasticizers.
“North America will dominate the epoxidized soybean oil market in near future.”
North America is expected to be the largest region over the forecast period due to stringent environmental norms set by the U.S government and ease of accessibility of low cost raw materials.
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Major players of epoxidized soybean oil market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Arkema SA, The DOW Chemical Company, CHS Inc., Ferro Corporation, Galata Chemicals LLC, Hairma Chemicals (GZ) Ltd., Shandong Longkou Longda Chemical Industry Co., Ltd., Guangzhou Xinjinlong Chemical Additives Co. Ltd., Inbra Indústrias Químicas, Ltda., Makwell Plasticizers Pvt Ltd., Shenzen Kaiqi Chemical Co., Ltd., and The Chemical Company, and others are among the major epoxidized soybean oil providers.
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