Epoxidized Soybean Oil Market
The market for Epoxidized Soybean Oil was estimated at $604 million in 2024; it is anticipated to increase to $927 million by 2030, with projections indicating growth to around $1.33 billion by 2035.
Report Summary
Market Data
Methodology
Table of Contents
Global Epoxidized Soybean Oil Market Outlook
Revenue, 2024
$604M
Forecast, 2034
$1.23B
CAGR, 2025 - 2034
7.4%
The Epoxidized Soybean Oil (ESBO) industry revenue is expected to be around $649.0 million in 2025 and expected to showcase growth with 7.4% CAGR between 2025 and 2034. The Epoxidized soybean oil market demonstrates strong growth patterns because it has become essential for multiple industries. The market growth stems from the oils distinctive characteristics together with its environmental suitability and its extensive application as a plasticizer and stabilizer in PVC products. The market continues to grow because of increasing consumer interest in sustainable products and their awareness about phthalate dangers. The food and beverage industry expansion drives market relevance because Epoxidized soybean oil functions as a sealing and coating agent in this sector.
The biodegradable oil ESO originates from soybean oil through epoxidation to produce epoxidized soybean oil. The material stands out because it provides superior performance and low volatility and excellent compatibility with PVC. The main use of this oil is as a plasticizer and stabilizer for PVC and other chlorine containing resins. The oil serves multiple industries which include food and beverage production as well as coatings and adhesives and sealants manufacturing.
Market Key Insights
- The Epoxidized Soybean Oil market is projected to grow from $604.3 million in 2024 to $1.23 billion in 2034. This represents a CAGR of 7.4%, reflecting rising demand across Plasticizer in PVC Products, Food Packaging Material and UV Cure.
- Arkema group, CHS Inc., The Chemical Company are among the leading players in this market, shaping its competitive landscape.
- U.S. and China are the top markets within the Epoxidized Soybean Oil market and are expected to observe the growth CAGR of 4.8% to 7.1% between 2024 and 2030.
- Emerging markets including Indonesia, Mexico and South Africa are expected to observe highest growth with CAGR ranging between 8.5% to 10.2%.
- Transition like Shift Towards Bio based Plasticizers is expected to add $29 million to the Epoxidized Soybean Oil market growth by 2030.
- The Epoxidized Soybean Oil market is set to add $630 million between 2024 and 2034, with manufacturer targeting UV Cure & Fuel Additives Applications projected to gain a larger market share.
- With Rising demand in plasticizer industry, and Increasing adoption in food packaging, Epoxidized Soybean Oil market to expand 104% between 2024 and 2034.
Opportunities in the Epoxidized Soybean Oil
The bio lubricants markets burgeoning interest in ESO is also a noteworthy.As an eco friendly and renewable lubricant, ESO is well suited to meet the rising demand for sustainable industrial solutions. This trend is expected to fuel ESO market growth, especially in industries seeking to reduce their environmental footprint.
Growth Opportunities in North America and Asia Pacific
The North American market for Epoxidized soybean oil shows substantial growth in this region. The industrial sector in the United States drives this growth because the market demand for eco friendly plasticizers continues to increase. The regions strict environmental rules have led to increased ESO adoption because businesses want to decrease their environmental impact. The competitive market in this region forces major players to develop new products while forming strategic alliances to stay ahead in their market position. The North American ESO market experiences rapid growth because consumers increasingly understand the advantages of bio based products.
The Asia Pacific region is another major hub for the Epoxidized soybean oil market. The market for ESO is driven by the rapid industrialization of emerging economies such as China and India. The PVC industry in the region is expanding and ESO is widely used as a plasticizer and this is a key factor that is driving the market growth. The market in this region is characterized by intense competition among local and international players and this makes innovation and pricing strategies crucial for market survival. The increasing demand for sustainable and eco friendly products in the Asia Pacific region presents lucrative opportunities for the ESO market.
Market Dynamics and Supply Chain
01
Driver: Increasing Demand for Eco Friendly Plasticizers and Advancements in Green Chemistry
The market for epoxidized soybean oil also experiences rapid growth because different industries need eco friendly plasticizers. The market demand for epoxidized soybean oil as a bio based plasticizer increases because it offers lower toxicity and excellent PVC compatibility. The market continues to grow because of recent developments in green chemistry. The market prefers epoxidized soybean oil because sustainable epoxidation methods of soybean oil have also become more efficient which reduces environmental impact.
The food and beverage industry is also increasingly adopting ESBO as a stabilizer and a plasticizer in food packaging materials. This is also primarily due to its ability to limit the migration of toxic substances into food, ensuring safety and quality. The trend of using safe and sustainable food packaging materials is also driving the demand for ESBO in this sector.
02
Restraint: Fluctuating Raw Material Prices
The Epoxidized soybean oil market shows high sensitivity to changes in raw material prices. The production of Epoxidized soybean oil depends heavily on soybean oil as its main ingredient so changes in its price directly affect total manufacturing expenses. The unstable prices of raw materials create market unpredictability which could slow down industry expansion.
03
Opportunity: Expansion in the Food and Beverage Sector and Rising Demand in the Plastic Industry
The food and beverage industry is another promising growth area for ESO as a stabilizer and preservative. ESO is an ideal choice for packaging applications because of its low volatility and migration and its excellent compatibility with food contact materials. This trend is particularly strong in health conscious markets where the demand for safe, sustainable packaging solutions is high.
The plasticindustry'sincreasing demand for Epoxidized soybean oil presents a significant market. The market demand for ESO is increasing because it serves as a non toxic bio based plasticizer which provides better stabilization to PVC and other chlorinated polymers. The market for ESO will experience significant growth because of this trend especially in regions with strong plastic manufacturing industries.
04
Challenge: Stringent Environmental Regulations
The manufacturing process of ESBO requires chemical transformations which generate environmental effects. The industry operates under strict environmental regulations which create substantial difficulties for its operations. The failure to follow these regulations results in severe penalties which serve as a market expansion deterrent.
Supply Chain Landscape
1
Soybean Cultivation
Monsanto CompanyDuPont Pioneer
2
Soybean Oil Extraction
Archer Daniels Midland CompanyBunge Limited
3
Epoxidation Process
Arkema GroupThe Dow Chemical Company
4
End User Industry
PlasticFood and BeverageAdhesives and Sealants
1
Soybean Cultivation
Monsanto CompanyDuPont Pioneer
2
Soybean Oil Extraction
Archer Daniels Midland CompanyBunge Limited
3
Epoxidation Process
Arkema GroupThe Dow Chemical Company
4
End User Industry
PlasticFood and BeverageAdhesives and Sealants
Use Cases of Epoxidized Soybean Oil in Plasticizer in PVC Products & Food Packaging Material
Plasticizer in PVC Products : The plasticizing application of epoxidized soybean oil extends to polyvinyl chloride products. The addition of this oil to PVC products creates flexibility while reducing brittleness and improving overall performance. The excellent PVC compatibility and superior stabilizing properties of this oil make it the preferred choice over conventional plasticizers. The market leaders in this sector are Arkema SA and CHS Inc. because they provide top quality products and maintain strong market presence.
Food Packaging Material : The production of food packaging materials relies heavily on ESBO as a primary material. The material stands out because it is non toxic and creates a smooth glossy finish on products. The product benefits from stabilization properties which extend its shelf life. Adeka Corporation and Ferro Corporation lead this application through their market leading position and innovative product development.
UV Cure : The UV cure applications utilize ESBO because it shows excellent reactivity to UV light. The main applications of this oil include coatings, inks and adhesives. The oils fast curing properties under UV light make it suitable for these applications. The two main companies in this sector are Galata Chemicals and Shandong Longkou Longda Chemical Industry, which are well known for their high quality products and strong market position.
Recent Developments
The market for Epoxidized soybean oil has shown substantial growth because of its wide range of industrial applications. The plastic industry mainly employs this bio based plasticizer for PVC products because it provides exceptional stabilizing properties. The plastic industry seeks eco friendly solutions at an increasing rate which drives this trend. The market dynamics for ESBO are rapidly changing.
December 2024 : The global chemical company BASF announced its Asian expansion of epoxidized soybean oil production because of rising market demand for environmentally friendly plasticizers.
October 2024 : The specialty chemicals and advanced materials company Arkema Group introduced new epoxidized soybean oil products which provide superior performance for PVC applications.
August 2024 : The Dow Chemical Company launched an innovative bio based epoxidized soybean oil which delivers exceptional thermal stability and low volatility for flexible PVC applications.
Impact of Industry Transitions on the Epoxidized Soybean Oil Market
As a core segment of the Bio-Based C&M industry,
the Epoxidized Soybean Oil market develops in line with broader industry shifts.
Over recent years, transitions such as Shift Towards Bio based Plasticizers and Expansion in Emerging Markets have redefined priorities
across the Bio-Based C&M sector,
influencing how the Epoxidized Soybean Oil market evolves in terms of demand, applications and competitive dynamics.
These transitions highlight the structural changes shaping long-term growth opportunities.
01
Shift Towards Bio based Plasticizers
The global market for ESBO has witnessed a significant transition towards the use of bio based plasticizers. This shift has been driven by the increasing demand for non toxic and environmentally friendly plasticizers in various industries, including food and beverage packaging, consumer goods, and healthcare. The use of ESO as a bio based plasticizer has proven to be a viable alternative to traditional petroleum based plasticizers, offering benefits such as reduced carbon footprint, improved product safety, and enhanced plasticizing efficiency. This transition has significantly impacted the plasticizer industry, promoting sustainable practices and driving innovation in bio based product development.
02
Expansion in Emerging Markets
The ESO industry has experienced a significant change through its entry into new markets. The rising understanding of ESO advantages together with developing country industrialization and urbanization has led to rising ESO market demand in Asia Pacific and South America. The market expansion has created fresh growth opportunities for ESO manufacturers while reshaping the worldwide ESO market structure.