What is Epoxidized Soybean Oil - Global Market?
Epoxidized Soybean Oil, also known as ESO, is a bio-based product made by oxidizing soybean oil with a catalyst, typically formic acid and hydrogen peroxide. It's a kind of light yellow oily liquid with a unique molecular structure that has been widely used in Europe and America. The global market for Epoxidized Soybean Oil is a dynamic one, with its value standing at US$ 931.1 million in 2022. The market is projected to grow at a steady pace, reaching an estimated value of US$ 1132.3 million by 2029. This represents a Compound Annual Growth Rate (CAGR) of 2.8% during the forecast period from 2023 to 2029.
Epoxidized Soybean Oil - Global Market Outlook:
The global Epoxidized Soybean Oil market is dominated by a few key players, namely Arkema, Hairma Chemicals, CHS, Xinjinlong Chemical Additives, and Galata Chemicals. These companies collectively held about 40% of the market share. The epoxy functionality of Epoxidized Soybean Oil provides excellent heat and light stability, making it a preferred choice in various applications. Despite the competitive landscape, the market is expected to grow steadily, driven by increasing demand from various end-use industries.
| Report Metric | Details |
| Report Name | Epoxidized Soybean Oil - Market |
| Forecasted market size in 2029 | US$ 1132.3 million |
| CAGR | 2.8% |
| Forecasted years | 2023 - 2029 |
| Global Epoxidized Soybean Oil market, by region: |
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| Global Epoxidized Soybean Oil market, by Application |
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| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
