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1020342

Global Epoxidized Soybean Oil Market - 2021-2028

Published: | DataM Intelligence | 180 Pages | Delivery time: 2 business days

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Global Epoxidized Soybean Oil Market - 2021-2028
Published: July 28, 2021
DataM Intelligence
Content info: 180 Pages
Delivery time: 2 business days
  • ALL
  • Description
  • Table of Contents
Description

Epoxidized Soybean oil is an organic oil derived from soybean by a process known as epoxidation. It is widely used as a plasticizing & stabilizing agent in PVC plastics. Its major application also includes usage as a fuel additive in the automobile sector and cutting fluid and functional fluid in various industrial applications.

The Global Epoxidized Soybean Market is valued USD XX billion in 2020 and is estimated to reach USD XX billion by 2028, at a CAGR of XX% during the forecast period.

Market Dynamics

Increasing demand for Epoxidized Soybean Oil from the food and beverage packaging industries, the widespread use of Epoxidized Soybean Oil as a fuel additive in the automotive industry and the rising healthcare and pharma applications sector is expected to drive the market in the forecast period. It can also be used as high temperature lubricant owing to the low pour point.

The increasing use of Epoxidized Soybean Oil in the food and beverage packaging industry is crucial in boosting the global Epoxidized Soybean Oil market. According to the World Bank statistics, the World population increased from 7.46 billion in 2016 to 7.9 billion in 2021, reaching 8.4 billion in 2028. A considerable shift in consumers' lifestyle and diet in emerging economies has led to increased demand for packaged foods. Urbanization in developing countries is further expected to boost this phenomenon. For instance, Urban population in India has been increasing constantly at 2-2.5% per annum since 2000 and is expected to reach 600 Mn by 2030, which is 38% of the total population. Hectic lifestyles in urbanized areas have led to an increase in demand for healthy, convenient food prepared with minimal effort. Thus, increasing sales of packaged and processed foods are witnessing robust sales. Epoxidized Soybean Oil's application as a plasticizer is a major ingredient used in the food and beverage packaging industry. This is expected to drive the market at a healthy rate in the forecast period.

However, the global Epoxidized Soybean Oil market's growth is impacted by fluctuating raw material prices and Epoxidized soybean oil's toxicity. The specific migration limit for ESBO is 60 mg kg-1 food simulant which corresponds to the overall migration limit. The European Commission lowered the ESBO migration limit to 30 mg kg-1 for infant food, since the tolerable daily intake (TDI) for 1 mg kg-1 body weight was often exceeded. However, the animal data support the conclusion that ESBO does not fit the designation of acutely toxic under the FHSA following single oral or dermal exposures, based on a recent research conducted by the University of Cincinnati.

Covid-19 Impact Analysis:

While the global trade came to halt during the lockdowns imposed to control the spread of novel coronavirus, the food industry has been impacted by severe freight challenges. Most of the food categories witnessed decline in sales volume due to lack of demand and supply chain disruptions. The sales declined in the food industry, particularly in food service and HoReCas. As food and beverage is one of the dominant industries for the Epoxidized Soybean Market, the decline has a huge negative impact. Closure of food industries and lack of exports severely impacted the packages foods in turn impacting epoxidized soybean market. Fuel consumption also declined owing to the lockdowns and the work from home scenarios, which impacted the usage of ESBO as fuel additive.

Market Segmentation

Based on the end user, the market is segmented as food and beverages, adhesives and sealants, automotive and healthcare.

Food and beverages leads the market owing to the increasingly extensive use in packaged foods. However, the automotive segment is expected to witness the highest growth rate in the forecast period owing to widespread applications of Epoxidized Soybean Oil as fuel additives coupled with increasing mandates on fuel emissions. According to the Euro 5b tier, which was approved in September 2011 by the European emission standards, the permissible NOx emissions levels for diesel vehicles were 0.180 g/kg, and particulate matter was 0.005 g/kg. Due to increasing environmental pollution levels, it has recently launched the Euro 6d mandated, approved in January 2020. According to the Euro 6d emission mandates, the allowable limit for NOx emissions is 0.080g/kg and particulate matter emissions are 0.0045 g/kg. Epoxidized Soybean oil has a high flash point, thermal stability, low volatility & toxicity and is biodegradable & non-corrosive in nature. These fuel additives help minimize the vehicle's emissions, thereby improving the vehicle's performance, which is anticipated to drive the market in the foreseeable future.

Geographical Analysis

The Global Epoxidized Soybean Oil Market is segmented into North America, Europe, Asia Pacific, South America and the Middle East and Africa.

The European region is anticipated to dominate the global Epoxidized Soybean Oil market in the forecast period owing to the emission mandates imposed upon automotive emissions and regulations imposed on the use of non-phthalate plasticizers in food and beverage packaging. The flourishing automotive industry with well-established players in countries such as Germany, Spain and Italy have contributed to the market's growth in developing innovative technologies in developing fuel additives that can curb environmental pollution.

Furthermore, REACH, the EU's major regulation for chemicals involving the registration and evaluation of the thousands of chemicals, have imposed many regulations upon the registering and usage of plasticizers in the region, which include the elimination of non-phthalate plasticizers in food and beverages packaging and encourage the usage of safe plasticizers. Thus, companies have been focusing on developing plasticizers derived from soybean, which have been proven to be safe in the food and beverage packaging industry and are anticipated to augment the market's growth in the forecast period.

Competitive Analysis

The epoxidized soybean market is highly competitive in terms of new product launches, expansion of facilities, mergers and acquisitions, and strategic partnerships are vital strategies adopted by most companies to contribute to their growth and improve their market growth rate. The companies have been working to improve their products to meet the government regulation and demand. Some key players include Arkema Corporation, CHS Inc., Hallstar Industrial, Hebei plasticizers co., LTD, KH Chemicals Ltd, The Chemical Company, Galata Chemicals, Maxwell Plasticizers, Shandong Longkou Longda Chemical Industry Co.,Ltd., Harima Chemicals Ltd.

Arkema Corporation:

Arkema S.A. is a specialty chemicals and advanced materials company headquartered in Colombes, near Paris, France. With a turnover of 7.9 billion €, Arkema has 20,500 employees in more than 55 countries, 13 research centers worldwide, and a total of 144 production plants across the globe

Product Portfolio of Arkema Corporation:

  • High Performance Materials

Specialty polyamides

Fluoropolymers (PVDF)

molecular sieves for filtration

adsorption and organic peroxides

  • Industrial specialties

thiochemicals

fluorochemicals

PMMA

hydrogen peroxide

  • Coating Solutions

Key Developments:

  • In May 2019, Arkema has announced the acquisition of ArrMaz, a US-based leader in specialty surfactants. This acquisition is expected to strengthen Arkema's performance additives business, one of the three strong pillars within the High-Performance Materials division, along with Adhesives and Technical Polymers.
  • In May 2021, Bostik expands its offerings in high performance adhesives in the United States with the planned acquisition of Edge Adhesives Texas, a complementary asset in hot-melt adhesives and pressure sensitive adhesive tapes for residential construction. This project is in line with Arkema's strategy of bolt-on acquisitions to develop greater breadth in adhesives and deliver new products to meet expanding demand.
  • Arkema plans to acquire Agiplast, a company specialized in the regeneration of high-performance polymers and its historical partner in recycling operations. The company, with annual sales of around €15 million, operates a plant in Italy and has 32 employees. The deal is expected to close in the second half of 2021.

Why Purchase the Report?

  • Visualize the Global Epoxidized Soybean Oil Market's composition across each indication regarding raw material, application, end-users, and region, highlighting the key commercial assets and players.
  • Identify commercial opportunities in Global Epoxidized Soybean Oil Market by analyzing trends and co-development deals.
  • Excel data sheet with thousands of data points of the Global Epoxidized Soybean Oil Market - level 4/5 segmentation.
  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
  • Product mapping in excel for the key products of all major market players

Target Audience:

  • Equipment Suppliers/ Buyers
  • Service Providers/ Buyers
  • Industry Investors/Investment Bankers
  • Education & Research Institutes
  • Research Professionals
  • Emerging Companies
  • Manufacturers
Table of Contents
Product Code: DMAG2340

Table of Contents

1. Epoxidized Soybean Oil Market Methodology and Scope

  • 1.1. Research methodology
  • 1.2. Research Objective and Scope of the Report

2. Epoxidized Soybean Oil Market - Market Definition and Overview

3. Epoxidized Soybean Oil Market - Executive Summary

  • 3.1. Market Snippet by raw material
  • 3.2. Market Snippet by application
  • 3.3. Market Snippet by end-user
  • 3.4. Market Snippet by Region

4. Epoxidized Soybean Oil Market-Market Dynamics

  • 4.1. Market Impacting Factors
  • 4.2. Drivers
    • 4.2.1. Increasing applications of Epoxidized Soybean Oil from automotive industry
    • 4.2.2. Rising demand for plasticizers in the food and beverage packaging industry
  • 4.3. Restraints
    • 4.3.1. Fluctuating raw material prices
    • 4.3.2. Toxicity of Epoxidized soy bean oil
  • 4.4. Opportunities
  • 4.5. Impact Analysis

5. Epoxidized Soybean Oil Market - Industry Analysis

  • 5.1. Porter's Five Forces Analysis
  • 5.2. Regulatory Analysis

6. Epoxidized Soybean Oil Market - Covid-19 Impact Analysis

  • 6.1. Porter's Five Forces Analysis
    • 6.1.1. Before Covid Market Scenario
    • 6.1.2. Present Covid Market Scenario
    • 6.1.3. After Covid Market Scenario
  • 6.2. Pricing Dynamics Amid Covid-19
  • 6.3. Demand-Supply Spectrum
  • 6.4. Government Initiatives related to market during pandemic
  • 6.5. Manufactures Strategic Initiatives

7. Epoxidized Soybean Oil Market - by raw material

  • 7.1. Introduction
    • 7.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%), by raw material
    • 7.1.2. Market Attractiveness Index, by raw material
  • 7.2. Soy Bean
    • 7.2.1. Introduction
    • 7.2.2. Market Size Analysis, and Y-o-Y Growth Analysis (%)
  • 7.3. Formic Acid
  • 7.4. Acetic Acid
  • 7.5. Hydrogen Peroxide

8. Epoxidized Soybean Oil Market - by application

  • 8.1. Introduction
  • 8.2. Market Size Analysis, and Y-o-Y Growth Analysis (%), by application
  • 8.3. Market Attractiveness Index, by application
  • 8.4. Plasticizer
    • 8.4.1. Introduction
    • 8.4.2. Market Size Analysis, and Y-o-Y Growth Analysis (%)
  • 8.5. Fuel Additive
  • 8.6. Flavor and Fragrances
  • 8.7. Lubricants
  • 8.8. Coatings
  • 8.9. Agricultural Chemicals
  • 8.10. Others (Cutting Fluids, Functional Fluids)

9. Epoxidized Soybean Oil Market - By End-user

  • 9.1. Introduction
  • 9.2. Market Size Analysis, and Y-o-Y Growth Analysis (%), by end-user
  • 9.3. Market Attractiveness Index, by end-user
  • 9.4. Food and Beverages
    • 9.4.1. Introduction
    • 9.4.2. Market Size Analysis, and Y-o-Y Growth Analysis (%)
  • 9.5. Adhesives and sealants
  • 9.6. Automotive
  • 9.7. Healthcare

10. Epoxidized Soybean Oil Market - By Region

  • 10.1. Introduction
    • 10.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Region
    • 10.1.2. Market Attractiveness Index, By Region
  • 10.2. North America
    • 10.2.1. Introduction
    • 10.2.2. Key Region-Specific Dynamics
    • 10.2.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), by raw material
    • 10.2.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), by application
    • 10.2.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By end user
    • 10.2.6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Countries
      • 10.2.6.1. U.S.
      • 10.2.6.2. Canada
      • 10.2.6.3. Mexico
  • 10.3. Europe
    • 10.3.1. Introduction
    • 10.3.2. Key Region-Specific Dynamics
    • 10.3.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), by raw material
    • 10.3.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), by application
    • 10.3.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By end user
    • 10.3.6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Countries
      • 10.3.6.1. Germany
      • 10.3.6.2. U.K.
      • 10.3.6.3. France
      • 10.3.6.4. Italy
      • 10.3.6.5. Spain
      • 10.3.6.6. Rest of Europe
  • 10.4. South America
    • 10.4.1. Introduction
    • 10.4.2. Key Region-Specific Dynamics
    • 10.4.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), by raw material
    • 10.4.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), by application
    • 10.4.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By end user
    • 10.4.6. Market Size Analysis, and Y-o-Y Growth Analysis (%), by Countries
      • 10.4.6.1. Brazil
      • 10.4.6.2. Argentina
      • 10.4.6.3. Rest of South America
  • 10.5. Asia Pacific
    • 10.5.1. Introduction
    • 10.5.2. Key Region-Specific Dynamics
    • 10.5.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), by raw material
    • 10.5.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), by application
    • 10.5.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By end user
    • 10.5.6. Market Size Analysis, and Y-o-Y Growth Analysis (%), by Countries
      • 10.5.6.1. China
      • 10.5.6.2. India
      • 10.5.6.3. Japan
      • 10.5.6.4. Australia
      • 10.5.6.5. Rest of Asia Pacific
  • 10.6. Middle East and Africa
    • 10.6.1. Introduction
    • 10.6.2. Key Region-Specific Dynamics
    • 10.6.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), by raw material
    • 10.6.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), by application
    • 10.6.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By end user

11. Epoxidized Soybean Oil Market - Competitive Landscape

  • 11.1. Competitive Scenario
  • 11.2. Competitor Strategy Analysis
  • 11.3. Comparative Product Portfolio Analysis
  • 11.4. Market Positioning/Share Analysis
  • 11.5. Mergers and Acquisitions Analysis

12. Company Profiles

  • 12.1. Arkema Corporation
    • 12.1.1. Company overview
    • 12.1.2. Product portfolio and description
    • 12.1.3. Key highlights
    • 12.1.4. Financial overview
  • 12.2. Hallstar Industrial
  • 12.3. CHS Inc
  • 12.4. Hebei plasticizers co., LTD.
  • 12.5. KH Chemicals Ltd
  • 12.6. The Chemical Company
  • 12.7. Galata Chemicals
  • 12.8. Maxwell Plasticizers
  • 12.9. Shandong Longkou Longda Chemical Industry Co.,Ltd.
  • 12.10. Harima Chemicals Ltd (List Not Exhaustive)

13. Epoxidized Soybean Oil Market - Premium Insights

14. Epoxidized Soybean Oil Market - DataM

  • 14.1. Appendix
  • 14.2. List of Tables and Figures
  • 14.3. About Us and Services
  • 14.4. Contact Us