Epoxidized Soybean Oil Market Projected to Grow at 5.10% CAGR, Valued at USD 764.74 Million by 2032 | Report by SNS Insider
Rising demand for eco-friendly plasticizers and increasing regulatory support for bio-based additives are driving the Epoxidized Soybean Oil market expansion globally.
Austin, June 03, 2025 (GLOBE NEWSWIRE) — The Epoxidized Soybean Oil Market Size was valued at USD 514.12 million in 2024 and is expected to reach USD 764.74 million by 2032, growing at a CAGR of 5.10% over the forecast period of 2025-2032.
Growing Preference for Sustainable Additives Boosts Epoxidized Soybean Oil Market Expansion
The Epoxidized Soybean Oil (ESBO) market is growing rapidly due to its role as a safe, non-toxic plasticizer and stabilizer in flexible PVC, especially in food packaging and medical devices. Rising environmental regulations against harmful phthalates are boosting ESBO adoption. The U.S. Department of Agriculture reported a 4.5% increase in soybean oil production in 2023, ensuring raw material availability. The FDA’s recognition of ESBO as a safe additive enhances its use in the personal care and food industries. Recent investments by companies like Archer Daniels Midland reflect strong industry confidence. Growing consumer demand for bio-based, sustainable products in healthcare and cosmetics also drives market expansion, projecting nearly double the market value by 2032.
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The US Epoxidized Soybean Oil Market had the largest market share of 72% in 2024, with a market size of USD 88.47 million.
The US Epoxidized Soybean Oil market is growing due to increased regulatory support for non-phthalate plasticizers and rising demand in personal care products. For example, the FDA’s approvals for ESBO in food contact materials and cosmetic formulations have spurred its use. Companies like Cargill and ADM are expanding capacity, reflecting this upward trend in bio-based plasticizer consumption.
Key Players:
- Arkema S.A.
- Cargill, Incorporated
- CHS Inc.
- NAN YA Plastics Corporation (Formosa Plastics Group)
- Valtris Specialty Chemicals
- Galata Chemicals LLC
- Adeka Corporation
- Zhejiang Jiaao Enprotech Stock Co., Ltd.
- Hairma Chemicals (GZ) Ltd.
- INBRA Indústrias Químicas Ltda
Epoxidized Soybean Oil Market Report Scope:
| Report Attributes | Details |
| Market Size in 2024 | USD 514.12 Million |
| Market Size by 2032 | USD 764.74 Million |
| CAGR | CAGR of 5.10% From 2025 to 2032 |
| Base Year | 2024 |
| Forecast Period | 2025-2032 |
| Historical Data | 2021-2023 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Drivers | • Rising Demand for Epoxidized Soybean Oil To accelerate consumer shift toward sustainably sourced plasticizers. |
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By Raw Material, Soybean Oil Dominated the Epoxidized Soybean Oil Market in 2024 with a 61% Market Share.
This dominance is attributed to the widespread availability and cost-effectiveness of soybean oil as the primary raw material for epoxidation processes. Soybean oil’s rich unsaturated fatty acid content makes it highly suitable for conversion into epoxidized derivatives, widely used as bio-based plasticizers and stabilizers. Major US producers like Archer Daniels Midland and Cargill have invested heavily in soybean cultivation and processing, securing supply chains and expanding product portfolios. The USDA’s support for soybean farming through subsidies and sustainability initiatives further bolsters this segment’s growth. As demand for green and safer additives in flexible PVC applications such as food packaging, medical tubing, and consumer goods rises, soybean oil remains the preferred raw material, reinforcing its dominant market position.
By Application, the Plasticizers Dominated the Epoxidized Soybean Oil Market in 2024 with a 52.8% Market Share.
This segment’s dominance arises from the urgent global shift away from phthalate-based plasticizers due to health and environmental concerns. ESBO’s excellent compatibility with PVC and its bio-based, non-toxic profile make it the preferred alternative. Industries such as flexible packaging, healthcare devices, and children’s toys heavily rely on ESBO plasticizers to meet stringent safety regulations. Companies like BASF and Eastman Chemical have reported rising demand for ESBO plasticizers in their 2023 financial disclosures, confirming this trend. This shift not only drives ESBO plasticizers’ market share but also accelerates innovation in bio-plasticizer blends.
Asia Pacific dominated the Epoxidized Soybean Oil Market in 2024, Holding a 41.6% Market Share.
Rapid industrial growth in countries like China, India, and Southeast Asia is a primary driver. These nations have expanding flexible PVC industries and increasing production of consumer goods such as food packaging, personal care items, and automotive components utilizing ESBO. The growing awareness about sustainable and bio-based products among consumers has accelerated ESBO adoption. For example, Chinese manufacturers are actively incorporating ESBO in food packaging materials to meet stricter food safety regulations. Government incentives promoting green chemicals and local availability of soybean oil at competitive prices also contribute significantly.
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