Global Epoxidized Soybean Oil Market Trends & Opportunities
Among the key end-use segments, the market is gaining maximum from the rising use of epoxidized soybean oil in food and beverages packaging. As the retail sector gears for spike in the demand for processed food, the significance of phthalate-free plasticizers food packaging will scale higher. This will create significant opportunities for the market in the beverage can coating segment as well. JIAAO epoxidized soybean oil is available at a lower cost and offers high flexibility and thermal stability. It is also an eco-friendly bio-plasticizer hence, considered to be a food-grade product. It is due to the same reason that epoxidized soybean oil is extensively used in the food and beverages industry for packaging of products.
By application, plasticizers will emerge as one of the key market segments. The segment includes PVA, PVC, and chlorinated rubber applications. The demand for epoxidized soyabean oil is thus considerably high in North America, wherein stringent environmental laws have compelled industries to lower dependence on phthalate plasticizers.
Also, soybean oil is most likely to remain the leading segment among raw materials due to its extensive use in the production of epoxidized soybean oil. This vegetable oil is derived from the seeds of soybean and is known to have many inedible applications besides its use in food products. Out of the many inedible applications, soybean oil acts as an excellent additive and stabilizer in plasticizers. Plasticizers become more reactive when epoxidized soybean oil is added. Soybean oil is widely available and is an eco-friendly alternative due to which it is also preferred by oleo chemical producers. Spurred by these factors, the global epoxidized soybean oil market will exhibit robust growth in the forecast period.
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