The report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Epoxidized Soybean Oil market is likely to grow at a healthy CAGR of 9.6% over the next five years.
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Based on the application type, the epoxidized soybean oil market is segmented as plasticizers, coatings, agricultural chemicals, lubricants, fuel additive, surfactants, cutting oils, and others. Plasticizers is expected to remain the dominant application of the market over the next five years, owing to its stringent regulations regarding ban in usage of phthalate plasticizers due to its hazardous effects on the health of the individuals.
In terms of regions, Asia-Pacific is likely to maintain its supremacy in the market during the forecast period. The region is also expected to grow at the fastest rate during the same period, mainly driven by China, India, and Japan. Rapid industrialization, transformation, and globalization coupled with increasing government initiatives of the major economies towards indigenous & local manufacturing are boosting the manufacturing sector, which in turn, is likely to drive the market during the forecast period.
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