CHICAGO, August 11, 2015 /PRNewswire/ --
The report "Epoxidized Soybean Oil (ESBO) Market by Raw Material (Soybean Oil, Hydrogen Peroxide), by application (Plasticizers, UV Cure Applications, Pigment Dispersion agents, Functional Fluids, Flavour & Fragrance, Fuel Additives), by End-use Industry (Food & Beverages, Healthcare & Pharmaceuticals, Adhesives & Sealants), by region - Global Trends and Forecasts to 2020" defines and segments the ESBO market with analysis and forecast of the market size. The global Epoxidized Soybean Oil (ESBO) Market value is projected to reach USD 0.3 Billion and the market volume is projected to reach 279.4 kilotons by 2020.
Browse 180 Tables and 59 Figures spread through 202 Pages and in-depth TOC on "Epoxidized Soybean Oil (ESBO) Market".
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The ESBO market in Europe is projected to register the fastest growth rates in the world. This is mainly attributed to the growth of food & beverage, healthcare & pharmaceuticals, and adhesives & sealants end-user industries in the emerging and developed economies such as Germany, France, the U.K, Italy and Turkey. Europe is the third largest market, in terms of value, for ESBO with a share of more than 20% of the global ESBO market in 2014. Germany is the main contributor to the ESBO market in Europe. The dominance of Germany in the market for ESBO in the region is owed to its growing population, growing demand of phthalate free PVC compounds, favorable investment policies, and stringent governmental norms. Continuous industrialization and growth in the manufacturing sector in Europe has led to the increasing consumption of ESBO in applications such as plasticizers and UV cure.
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UV Cure Applications - The fastest-growing application segment of epoxidized soybean oil
The UV cure application segment is the fastest-growing segment of ESBO market. This application segment is projected to grow at the fastest growth rate of around 11%, in terms of value, between 2015 and 2020. UV cure applications include the process of rapid transformation of a liquid coating film into a solid fill with the help of ESBO as an intermediate. Low-cost, low toxicity, biodegradability, workplace safety, flexibility, and flame resistivity makes ESBO the ideal component in UV cure applications. This application segment is majorly used in adhesives & sealants, coatings and other consumer related products. In North America, UV Care application segment is the biggest consumer for ESBO, owing to the presence of large number of coatings, sealants and other end-user manufacturing industries.
Food & Beverage End-Use Industry - The largest market for epoxidized soybean oil
The food & beverage industry is the largest end-user industry for ESBO, in terms of value and volume, and this trend is projected to continue in the near future due to the increasing demand of phthalate free PVC plasticizers for food packaging materials and beverage can coatings. In North America, Food & Beverage industry is the largest consumer of ESBO. Stringent governmental regulations the U.S. and European Union (EU) regarding the use of non-toxic and non-phthalate PVC compounds in all food & beverage products such as gaskets, processed food packaging, and so on plays a major role in the growth of ESBO consumption in this industry. The food & beverages end-use segment is projected to be the largest consumer of ESBO, followed by healthcare & pharmaceuticals, between 2015 and 2020.
Major players such as DOW Chemical Company (U.S.) and Galata Chemicals (U.S.) have adopted various development strategies such as merger & acquisitions, partnerships, agreements & collaborations, and product developments to achieve growth in the epoxidized soybean oil market.
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