Polymerized Vegetable Oils Market: Outlook
Polymerized vegetable oils are heat-treated vegetable oils like soybean and linseed. After the polymerization process the viscosity of the oil increases making it suitable for diverse applications in the end-use industries. With viscosity, oil absorption also increases making it a greasy product. Polymerized vegetable oils can be used as a vehicle or binder for most varnishes. In the food industry, the polymerized vegetable oil is majorly used as an additive to provide a greasy texture to the food products. For instance, addition of polymerized vegetable oil while baking doughnuts, gives them a greasy texture.
The demand for polymerized vegetable oils is highly concentrated globally, particularly for lubricating & greasing from various end-use industries. Due to the adverse effects of petroleum products on the environment as well as the shortage of petroleum resources, polymerized vegetable oil is the perfect alternative for the petroleum-based products. Besides, in the printing industry polymerized vegetable oil is widely been used as a printing ink vehicle and in ink formulation.
Growing Industrial Application of Polymerized Vegetable Oil is Promoting Market Demand:
The growing need to find a sustainable and environmentally friendly replacement for petroleum-based products is expected to fuel the demand for bio-based polymers from renewable resources. Polymerized vegetable oils are known for their higher viscosity and texture they provide to the product. The polymerized vegetable oils are in demand for wood finishes, lacquers, primers, undercoats and flat paints, printing inks, sealants and mastics, jointing pastes and as core oil.
Global Polymerized Vegetable Oils Market: Segmentation
The global polymerized vegetable oils market can be segmented based on source, function, end-use industry and region.
By source, the global polymerized vegetable oils market is segmented as –
By function, the global polymerized vegetable oils market is segmented as –
- Others (wood-preservative, anti-rusting agent etc.)
By end-use industry, the global polymerized vegetable oils market is segmented as –
- Food & Beverage
- Paint & Coatings
By region, the global polymerized vegetable oils market is segmented as –
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
Global Polymerized Vegetable Oils Market: Key Players
Example of some of the key participants operating in the global polymerized vegetable oils market are Cargill, Incorporated, Archer Daniels Midland Company, Alpolac, Inc., Croda International Plc, and Vertellus Holdings LLC, among others.
Robust research & development activities and expansion of the production capabilities are the major focus areas of the manufacturers in order to cater the demand for polymerized vegetable oils from the end-use industries.
Polymerized Vegetable Oils Market: Activities of the Participants
- Croda International plc, a U.K.-based manufacturer and supplier of ester base oils and performance additives for lubricants (such as polymerized vegetable oils), has opened a Center of Innovation for Formulation Science at the University of Liverpool’s new Materials Innovation Factory (MIF). This is likely to enhance their formulation science knowledge and capability across all the market sectors.
- Vertellus Holdings LLC, a manufacturer for polymerized vegetable oils, has been the part of major trade shows globally and is continuously participating in various events in order to enhance networking & reach in order to increase the sale by displaying its product range and technologies. For instance, the company participated in the American Coatings Show, at Indianapolis, Indiana in April, 2018 as well as in Specialty & Agro Chemicals Conference (American Chemical Marketing) held at Texas this year.
Opportunities for the Market Participants
The polymerized vegetable oils market is projected to be positively influenced by the manufacturers who are continuously working on new research projects and launching new products in the polymerized vegetable oils market. The manufacturers of polymerized vegetable oils can reach potential market sectors in order to gain maximum market share and increase their global sales.
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