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Epoxidized Soybean Oil Market in Germany to reach USD 35 million by 2024

Author : Ronak Bora | Published Date : 2019-04-10 

Germany epoxidized soybean oil market is projected to exceed USD 35 million by 2024 owing to presence of several food & beverage and automotive manufacturers. R&D initiatives with extension in product range by numerous producers will escalate industry growth. Increase in per capita income with stringent guidelines for bio-based products should fortify regional industry growth.

China epoxidized soybean oil (ESBO) market may observe significant gains over 6.5% up to 2024. Increasing awareness of negative toxic influences is driving market growth in automotive, adhesives & sealants, food & beverage, pharmaceutical and healthcare sectors. Shifting consumers preferences for cost efficient products is propelling product demand.

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Rising demand for bio-based products to curb emission levels will propel epoxidized soybean oil market growth. This can be ascribed to significant efforts taken by producers and regulatory authorities. Increasing innovation with development of cost-effective additives, may open avenues for companies and drive ESBO demand.

ESBO is utilized in various applications including lubricants, plasticizer, fuel additives, UV cure, and functional fluids owing to its biodegradable nature. Growing consumer awareness and inclination for fine quality eco-friendly product with low toxicity should drive market growth.

Stringent government regulations by agencies including EU Commission, EPA and FDA for utilization of phthalate plasticizers would drive epoxidized soybean oil demand in the predicted timeline. The product is extensively preferred in plastic manufacturing owing to its combining plasticizing and stabilizing action in PVC engineering.

High utilization of the product in food & beverage packaging may release HCL due to its direct contact with food ingredient which is likely to increase toxicity of the food preparations, thus limiting industry growth. Strict guidelines distressing to limiting product usage in food & beverage may hinder industry profitability, affecting epoxidized soybean oil market price trends.

Epoxidized soybean oil market from coatings will exceed USD 30 million by 2024. These coating provides hardness, adhesion, flexibility, tensile strength and impact resistance. In the coating industry product is utilized for the preparation of alkyds, hence intensifying market growth.

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Epoxidized soybean oil market from lubricants may witness strong gains over 4% by 2024. The product substitutes petroleum-based lubricants owing to their non-toxicity and biodegradability. Bio-based lubricants have a high viscosity index flash point, and lower evaporative loss. Rising prices of petroleum-based products and high emission rates will propel product demand.

Epoxidized soybean oil market from automotive may observe significant gains up to 6% by 2024. The automotive industry is likely to grow significantly owing to changing consumer purchasing patterns and rising standard of living, which would positively impact market share.

Epoxidized soybean oil market is moderately fragmented and highly competitive with key industry players including Flow Tech, HallStar, Shital Group, Valtris, Adeka, INBRA, Nan Ya Plastic, and Makwell. Manufacturers are investing profoundly in R&D activities, product innovation and capacity expansion for escalating market growth.

Epoxidized soybean oil (ESBO) market research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in tons and revenue in USD from 2013 to 2024, for the following segments:

ESBO Market, By Raw Material

  •  Soybean oil
  • Hydrogen peroxide
  • Formic acid
  • Acetic acid
  • Others

ESBO Market, By Application

  • Plasticizer
  • Fuel additive
  • Flavors & Fragrances
  • Coatings
  • UV care
  • Agriculture chemicals
  • Lubricants
  • Pigment Dispersion Agent
  • Cutting oils
  • Functional fluids
  • Others

ESBO Market, By End-Use

  • Food & Beverage
  • Adhesives & Sealants
  • Automotive
  • Pharmaceutical & healthcare
  • Others

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Russia
    • Spain
  • Asia Pacific
    • China
    • Japan
    • India
    • Thailand
    • South Korea
    • Malaysia
    • Australia
  • LATAM
    • Brazil
    • Argentina
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa

 

Browse key industry insights spread across 250 pages with 259 market data tables & 30 figures & charts from the report, “Epoxidized Soybean Oil Market” in detail along with the table of contents:

www.gminsights.com/industry-analysis/epoxidized-soybean-oil-market

 

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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