Epoxidized Soybean Oil Market: Overview
Epoxidized soybean oil, also known as, ESBO, is used as a plasticizer in polyvinyl chloride (PVC) plastics. It is used as a plasticizer as well as a remover or neutralizer for hydrochloric acid that is liberated from PVC while the PVC is being subjected to heat treatment. It is highly recommended to boost the epoxidized soybean oil production rate, as, this substance is known to be an efficient substitute of a class of toxic substances known as phthalates, as plasticizer, as many countries have banned phthalates due to the negative effects caused by them on the human health.
Certain vegetable oils, for instance soybean oil, is usually epoxidized by reacting the double bonds present in the oil and a peroxyacid (mostly peroxyformic or peroxyacetic acid) made in situ by reacting certain amount of concentrated hydrogen peroxide with formic or acetic acid having a mineral acid as catalyst.
Other than being used as a plasticizers, epoxidized soybean oil also are flavor & fragrance, fuel additives, functional fluids, and pigment dispersion agents.
They are widely used in industries like adhesives & sealants, food & beverages and healthcare & pharmaceuticals.
Epoxidized Soybean Oil Market: Market Trends
Epoxidized soybean oil, also known as ESBO or ESO, is suitable for many applications in many end-use industries. Epoxidized soybean oil is known to have resistance to temperature, it is environmental friendly, and is cheap and easily available.
The above qualities of Epoxidized soybean oil makes it in high demand in various industries as they can serve various purposes like transparent films, coatings, laminations and others. Epoxidized soybean oil is known to substitute the use of the harmful compound phthalates which again is a major reason for the growth of the Epoxidized soybean oil market globally in the future.
However the toxicity of Epoxidized soybean oil must be considered before its intake. The tolerable daily intake (i.e TDI) of Epoxidized soybean oil assigned by the Scientific Committee on Food (SCF) of the EU is 1 mg/kg body weight. Repeated and increased oral administration has shown to affect the liver, kidney, testis and uterus on a large scale.
In spite of the toxicity, various number of industrial applications will attribute to the increase in the market of Epoxidized soybean oil in the developed as well as the developing countries.
Epoxidized Soybean Oil Market: Region-wise Outlook
The Epoxidized soybean oil market in Europe is expected to register very steady growth rates in the world. This is mainly as a result of the growth of adhesives, food and beverage, healthcare and pharmaceuticals, and sealants end-user industries in the developing as well as the developed countries, few of them are Germany, France, the UK, Italy, and Turkey.
In North America, the segment of UV cure application is a major market for Epoxidized soybean oil, due to the establishment of huge number of sealants, coatings and other end-user manufacturing industries.
The region of Asia-Pacific also has some major players in the market of Epoxidized soybean oil due to fast growing rate of industrialization in countries like India and China.
Epoxidized Soybean Oil Market: Key Players
Few of the key player in epoxidized soybean oil market are Ferro Corporation, Arkema SA, Guangzhou Xinjinlong Chemical Additives Co. Ltd., The DOW Chemical Company, Galata Chemicals, Makwell Plasticizers Pvt. Ltd., Shandong Longkou Longda Chemical Industry Co. Ltd., Hairma Chemicals, Shenzen Kaiqi Chemical Co. Ltd., Inbra Indústrias Químicas Ltda, CHS Inc., etc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.