DELRAY BEACH, Fla., Sept. 30, 2026 /PRNewswire/ -- According to MarketsandMarkets™, the Epoxidized Soybean Oil Market is projected to reach USD 0.72 billion by 2031 from USD 0.55 billion in 2026, at a CAGR of 5.7% from 2026 to 2031.

Browse 500 market data tables and 49 figures spread through 350 pages and an in-depth TOC on the 'Epoxidized Soybean Oil Market - Global Forecast to 2031'

Epoxidized Soybean Oil Market Size & Forecast:

• Market Size Available for Years: 2022-2031
• 2026 Market Size: USD 0.55 billion
• 2031 Projected Market Size: USD 0.72 billion
• CAGR (2026-2031): 5.7%

Epoxidized Soybean Oil Market Trends & Insights:

• Global demand for epoxidized soybean oil (ESBO) is rising due to stricter regulations limiting phthalate plasticizers, growing preference for bio-based and non-toxic alternatives, and strong growth in PVC applications across food packaging, medical devices, automotive, and adhesives. Its dual role as a plasticizer and stabilizer, combined with competitive pricing and abundant soybean feedstock, further supports adoption worldwide.
• Asia Pacific accounted for the major market share of 47.9% in 2025.
• By raw material, the soybean oil segment accounted for the largest market share of 84.9% in 2025.
• By application, the UV cure segment is projected to register the highest CAGR of 8.7% during the period.
• By end-use industry, the others segment (polymer and agriculture) accounted for the largest market share of 31.7% in 2025.
• CHS Inc. (US), Nan Ya Plastics Corporation (Taiwan), Adeka Corporation (Japan), Cargill (US), Valtris (US), and Galata Chemicals LLC (US) were identified as key players in the epoxidized soybean oil market (global), given their strong market share and product footprint.
• The Chemical Company (US), Hallstar (US), Ajay Poly Pvt. Ltd. (India), and Vizag Chemical (India) have distinguished themselves among startups and SMEs by securing strong footholds in specialized niche areas, underscoring their potential as emerging market leaders.

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Epoxidized soybean oil (ESBO) is a bio-based plasticizer produced by epoxidizing soybean oil. It provides flexibility, thermal stability, and low volatility, and is widely used in PVC products, packaging, medical components, and other polymer applications.

By raw material, hydrogen peroxide segment to register highest CAGR during forecast period.

By raw material, the hydrogen peroxide segment is expected to exhibit the fastest growth during the forecast period. Hydrogen peroxide is the main oxidizing agent for the introduction of epoxy groups into soybean oil. The conventional process of epoxidation involves the reaction of H2O2 with an organic acid (e.g., formic or acetic acid) to produce peroxyacid, which then epoxidizes the double bond in the soybean oil. This directly correlates hydrogen peroxide with the epoxy component and quality of the resulting ESBO. This is further supported by improvements in the use of peroxides and efforts to make epoxidation more efficient. Industrial producers have been working to optimize the process by implementing effective heat extraction methods and adding peroxide in a controlled manner. These changes aim to enhance productivity and ensure process safety, as the reaction is highly exothermic.

Additionally, hydrogen peroxide has a favorable environmental profile since it produces water as the product of the reaction, making it an attractive option for reducing undesirable oxidation residues. Meanwhile, the increasing demand for ESBO for PVC plasticizers, bio-based polymers, and other applications is also driving the need for epoxidizing agents. Consequently, hydrogen peroxide is experiencing significant growth in its role within the ESBO value chain due to its essential process functionality, established industrial applications, cleaner oxidation chemistry, and the potential to improve process efficiency.

By application, UV cure applications segment to witness second-highest CAGR during forecast period.

As manufacturers seek renewable feedstocks to cure coatings, adhesives, and polymer systems more quickly than ever, UV-cure applications are emerging as the second fastest-growing area of ESBO applications. ESBO also has reactive functionality in the form of epoxy, which can be further chemically modified to render the materials UV-responsive, and the soy-based structures offer flexibility and renewable materials. UV-polymerized systems containing epoxidized soybean oil have been shown to produce a variety of useful bio-based products, such as pressure-sensitive adhesives. Recent research has shown that coumarin-functionalized epoxy soybean oil can be used in photo-reversible adhesives that can be cured and cured again under certain UV wavelengths. This offers a path to develop adhesive systems that are reworkable or recyclable, instead of permanently crosslinked. In addition, the overall trend toward low-energy and solvent-free curing methods offers a growth opportunity, with UV curing being able to offer fast polymerization and shorter processing time. ESBO's renewable nature is also in line with the development of bio-based coatings and adhesive systems. While conventional plasticizers are the biggest application for ESBO, growing research and formulation development in the field of UV-curable adhesives, coatings, pressure-sensitive materials, and functional polymers is opening the doors to additional applications and creating a growth niche for UV-cure.

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By end-use industry, adhesives & sealants segment to exhibit second-fastest growth during forecast period.

By end-use industry, the adhesives & sealants segment is projected to register the second-highest CAGR in the ESBO market, driven by increasing interest in renewable feedstocks and formulation of bio-adhesives. Soybean-oil-based materials can act as reactive components instead of just conventional plasticizers because of the multiple epoxy groups that can take part in the curing or chemical modification. Recent research has shown this growing application base: In 2026, scientists formulated a fully bio-based adhesive using ESBO, tannic acid, and citric acid that can withstand water, mold, and bond to aluminum with great strength. ESBO has also been explored in pressure-sensitive adhesives, as well as polyurethane adhesives and wood-bonding solutions, highlighting its potential applications in various adhesive chemistries. This is especially relevant given that adhesive manufacturers are looking for substitutes for petroleum and formulations that do not contain hazardous solvents or other substances. As a result, the share of renewable content, reactive epoxy functionality, formulation versatility and increased effort to research high-performance bio-based adhesives are increasing ESBO's use beyond the traditional PVC applications and driving fast growth in the adhesives and sealants business

Asia Pacific to witness second-highest CAGR during forecast period.

Asia Pacific is the largest market for epoxidized soybean oil industry, the factors driving Asia Pacific to become one of the fastest-growing regional ESBO markets. China plays a crucial role in the regional supply chain, as USDA data shows that it has developed a substantial domestic supply of value-added soybean oil derivatives, producing the highest volume among individual countries. There are also extensive manufacturing operations in the region that produce PVC products, packaging, construction materials, polymer-based adhesives, and other polymer products that can utilize ESBO. Notably, Asia Pacific is also emerging as a hub for the creation of new ESBO-based materials. This means large feedstock supply, large-scale polymer manufacturing downstream, and high industrialization, coupled with high development of bio-based materials, are contributing to the rapid demand growth for ESBO in the region.

Key Players

Leading players in the epoxidized soybean oil companies include CHS Inc. (US), Nan Ya Plastics Corporation (Taiwan), Adeka Corporation (Japan), Cargill (US), Valtris (US), Galata Chemicals LLC (US), Hairma Chemicals (GZ) Ltd. (China), Shandong Longkou Longda Chemical Industry Co., Ltd. (China), Guangzhou Xinjinlong Chemical Additives Co., Ltd. (China), and Inbra Indústrias Químicas, Ltda. (Brazil), among others. Product launches, partnerships, acquisitions, and expansions are some of the major strategies adopted by these key players to enhance their positions in the epoxidized soybean oil market.

Investment Funding

While the broader bio-based chemicals and plasticizer alternatives space has seen activity (e.g., startups developing fermentation-derived oils, bio-based polymers, or waste-to-chemical platforms), none of the listed or major new entrants have publicly raised funding targeted at ESBO. Investment in the ESBO segment continues to be driven primarily by established players through capacity expansions, process optimization, and portfolio strengthening rather than early-stage startup activity.

Revenue Shift

In the ESBO market, producers are shifting from traditional revenue sources, commodity-grade secondary plasticizers, and conventional industrial grades toward higher-value offerings. The future revenue mix emphasizes phthalate-free, regulatory-compliant bio-based solutions, application-specific formulations, and certified green chemistry products. This transformation enables suppliers to better serve clients in Food & Beverages, Personal & Healthcare, Adhesives & Sealants, and Automotive & Transportation by addressing key needs such as low migration, biocompatibility, lower VOC, and sustainability, ultimately delivering safer packaging, medical devices, durable seals, and lower-emission vehicles.

Mergers and Acquisitions

Mergers/acquisitions in the epoxidized soybean oil market represent a smaller number of deals/ business strategies adopted by players in the market.

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