The Epoxidized Soybean Oil Market to be synonymous to growth between 2020 and 2030
atulpmrJune 27, 2021
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Epoxidized soybean oil is the oxidation or rusting of soybean and unsaturated oils with hydrogen peroxide, it is also titled as ESBO. Epoxidized soybean oil is prepared from soybean oil by epoxidation process, it is a non-toxic and yellow color liquid. The epoxidation of vegetable oil is receiving a great interest from industries. There are many uses of ESBO inside and outside industries. In industries it is largely used as a plasticizer and stabilizer for PVC.
Epoxidized Soybean Oil Market: Market Dynamics and Restraints
Majorly, food and beverage industry have accounted most of the epoxidized soybean oil market whereas its application in plasticizer segment has controlled the market trailed by UV curing; this application is likely to rise meaningfully in upcoming years. Another cause is epoxidized soybean oil’s easy availability in huge volumes, at the lesser price which has propelled the usage in an application such as plasticizers, UV cure applications, fuel additives application this is directly driving the market of epoxidized soybean oil globally. Other key factor encountered, that lifts the market growth of epoxidized soybean oil worldwide is its usage as a replacement in PVC applications against phthalate-free stabilizers and hence epoxidized soybean oil is used extensively as an additive in plasticizers. The high growth of this market is due to the increase in demand from its application segment. These applications are growing because of which epoxidized soybean oil demand is generating; this drives the market globally. Asia-Pacific excluding Japan, all over Europe, North and Latin America are the leading regions for high consumption of epoxidized soybean oil market.