Epoxidized Soybean Oil Market is predicted to reach USD 0.8160 billion at a CAGR of 6.00% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Epoxidized Soybean Oil Market”.

The Epoxidized Soybean Oil Market is estimated to register a CAGR of 6.00% during the forecast period of 2024 to 2032.

MRFR recognizes the following companies as the key players in the global Epoxidized Soybean Oil Market— CHS Inc. (US), Nan Ya Plastics Corporation (Taiwan), Adeka Corporation (Japan), Cargill (US), Valtris (US), Galata Chemicals LLC (US), Hairma Chemicals (GZ) Ltd. (China), SHANGDONG LONGKOU LONGDA CHEMICAL INDUSTRY CO., LTD, Inbra Industries Quimicas, Ltd. (Brazil).

Epoxidized Soybean Oil Market Highlights

The global Epoxidized Soybean Oil Market is accounted to register a CAGR of 6.00% during the forecast period and is estimated to reach USD 0.8160 billion by 2032.

Increasing awareness regarding the harmful effects of traditional plasticizers has led to a growing demand for environmentally friendly alternatives like ESBO, which is derived from natural soybean oil and offers non-toxic properties. Additionally, stringent regulations on phthalate-based plasticizers, coupled with the growing emphasis on sustainability and eco-friendly solutions, further boost the adoption of ESBO across various industries, such as food packaging, medical devices, and automotive components.

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Segment Analysis

The global Epoxidized Soybean Oil Market has been segmented based on raw material, application, and end-use application.

On the basis of raw material, the market is segmented into Soybean oil and hydrogen peroxide. The Soybean oil segment was attributed to holding the largest market share in 2023 due to the widespread availability and cost-effectiveness of soybean oil as the primary feedstock for the production of epoxidized soybean oil.

Based on application, the global epoxidized soybean oil market has been segmented into plasticizers, UV cure applications, and fuel additives. The plasticizers segment was expected to hold the largest market share in 2023 due to the widespread use of plasticizers in various industries such as construction, automotive, and packaging to enhance the flexibility and durability of polymer materials.

Based on end-use application, the global epoxidized soybean oil market has been segmented into food & beverages, adhesives & sealants, and automotives. The food & beverages segment was expected to hold the largest market share in 2023 due to the increasing adoption of epoxidized soybean oil (ESBO) as a food additive and packaging material, driven by its non-toxic properties and regulatory compliance with food safety standards.

Regional Analysis

The global Epoxidized Soybean Oil Market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The Europe Epoxidized Soybean Oil Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Epoxidized Soybean Oil Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Epoxidized Soybean Oil Market comprises the Middle East, Africa, and Latin America.

The largest market share for Epoxidized Soybean Oil was maintained by the North American regional sector. North America boasts a robust food and beverage industry, where ESBO finds extensive applications as a food additive and packaging material due to its non-toxic properties and compliance with stringent food safety regulations. Additionally, the region's well-established manufacturing infrastructure and advanced research capabilities support the production and innovation of ESBO, meeting the evolving needs of various industries.

Moreover, the Europe market has been persistently growing over the forecast period. Europe's stringent regulatory environment and commitment to sustainability have driven the demand for eco-friendly alternatives like ESBO in various industries, including food & beverages, packaging, pharmaceuticals, and automotive. ESBO's compliance with stringent environmental and safety regulations makes it a preferred choice for manufacturers looking to meet regulatory standards while reducing their environmental footprint.

Asia Pacific is anticipated to experience the quickest growth over the forecast period. The region's large and increasingly affluent population serves as a substantial consumer base, fueling consumption and market expansion for ESBO in food & beverages, packaging, pharmaceuticals, and cosmetics. Moreover, Asia Pacific's growing awareness of environmental sustainability and regulatory compliance further boosts the demand for eco-friendly alternatives like ESBO, which is derived from natural soybean oil.

Furthermore, the rest of the world's Epoxidized Soybean Oil Market is divided into the Middle East, Africa, and Latin America. Rapid population growth, urbanization, and rising consumer spending propel the demand for ESBO in food processing, pharmaceuticals, and cosmetics industries.

Key Findings of the Study

• The global Epoxidized Soybean Oil Market is expected to reach USD 0.8160 billion by 2032, at a CAGR of 6.00% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market due to the region's robust manufacturing capabilities, research and development infrastructure, and strategic partnerships that foster innovation.


• Based on raw material, the Soybean oil segment was attributed to holding the largest market in 2023.


• CHS Inc. (US), Nan Ya Plastics Corporation (Taiwan), Adeka Corporation (Japan), Cargill (US), Valtris (US), Galata Chemicals LLC (US), Hairma Chemicals (GZ) Ltd. (China), SHANGDONG LONGKOU LONGDA CHEMICAL INDUSTRY CO., LTD, and Inbra Industries Quimicas, Ltd. (Brazil) are the key market players.