According to the new market research report by IndustryARC titled “Epoxidized Soybean Oil Market: By End User (Food & Beverage, Agriculture, Coatings, Healthcare & Pharmaceuticals, Construction Adhesives & Sealants); By Application (Plasticizers, Pigment Dispersive Agents and Others) & Geography -Forecast (2018-2023)”, the market is driven by developed end-user segments, especially the Food and Beverage segment.
Epoxidized Soybean Oil (ESBO) is one of the most prevalent epoxidized oleo-chemicals in the market. This yellowish viscous fluid is more reactive than alternatives such as polyunsaturated vegetable oils and thus, exhibits increased adoption.
Americas continues to lead the Epoxidized Soybean Oil Market share during 2018-2023.
Americas holds a major share in Epoxidized Soybean Oil Market, followed by Asia-Pacific and European region. Americas held $144.2 million in 2017 and is projected to reach $151.8 by 2023 at a CAGR of 2.3%. Europe projects to register the highest growth rate of 3.4% during 2018-2023, followed by Asia-Pacific and the Americas. Also, Europe is expected to be the third largest producer and is expected to show significant growth in the future.
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Excerpts on Market Growth Factors Mentioned in the Full Report:
The growing need to replace petroleum-based polymers with thermosetting bio-based polymers has resulted in the growing adoption of products such as epoxidized soybean oil, which escalates the ESO market growth.
Key Players of the Epoxidized Soybean Oil Market:
The key factor that has augmented the growth of top players in this highly competitive market is their adaptability to suit the customer requirements and early entrance into emerging application areas like adhesives and sealants along with coatings. The major key players of the Epoxidized Soyabean Oil Market are Arkema S.A., Dow Chemical Company and Ferro Corporation.
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