Non-toxic clear to yellow liquid formed as result of oxidation of soybean oil with hydrogen peroxide and acetic/formic acid
Market Overview
Industrially available in large volume at low price
Used as eco-friendly plasticizer and additive
Biodegradable alternative to toxic chemicals in various industries
Market Value & Growth Projections
Market Statistics:
Global market size: USD 609 million (2023)
Projected to reach: USD 969.33 million (2032) CAGR: 5.30% (2024-2032)
North America market: USD 173.43 million (2023)
North America CAGR: 4.54% (2024-2032)
Key Market Drivers:
Growing demand for eco-friendly plasticizers and additives
Increasing regulatory restrictions on toxic chemicals
Rising awareness about biodegradability and low toxicity benefits
High performance characteristics in various applications
Market Segmentation
By
Type
By Application
Oxygen, 6.6% min
Oxirane Oxygen, 6% min
Oxirane Oxygen, 5% min
Key Market Players
Hairma Chemicals
Galata Chemicals
Regional Market Analysis
North America:
USD 173.43 million (2023), 4.54% CAGR, key players include Hairma Chemicals, Arkema, and CHS
Europe: Significant markets in Germany, UK, France, and Italy with focus on PVC and chemical products
Asia-Pacific: Promising growth in China, Japan, and South Korea due to increasing demand for PVC products
Middle East & Africa: Emerging opportunities in Saudi Arabia and UAE influenced by PVC and chemical products demand
South & Central America: Brazil and Argentina hold significant market share with growth potential in chemical products
