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.
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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.
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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.