In a recent published report, Kenneth Research has updated the market report for Epoxidized Soybean Oil Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Epoxidized Soybean Oil Marketproducts.
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The global Epoxidized Soybean Oil market was valued at USD 247.8 million in 2016 and is projected to reach USD 623.6 million by 2025, growing at a CAGR of 10.8% from 2017 to 2025.
Epoxidized soybean oil is made up of organic compounds obtained from the oxidation of soybean oil.It is a yellowish viscous liquid that is used as a plasticizer and stabilizer in the manufacturing of polyvinyl chloride. The demand is expected to remain high owing to increasing usage of bio based products in manufacturing.
1. Market Drivers
1.1 Increasing adoption of organic stabilizers in polyvinyl chloride (pvc) stabilization process
1.2 Easy availability of ESBO in large volume and at low price
2. Market Restraints
2.1 High cost of manufacturing of active ingredients
The global Epoxidized Soybean Oil market is segmented on the basis ofraw material, application, end-use applicationand region.
1. By Raw Material:
1.1 Soybean Oil
1.2 Hydrogen Peroxide
2. By Application:
2.1 Pigment Dispersion Agents
2.3 Functional Fluids
2.4 Fuel Additives
2.5 UV Cure Applications
2.6 Functional Fluids
3. By End-Use Application:
3.1 Personal & Healthcare
3.2 Transportation & Automotive
3.3 Adhesives & Sealants
3.4 Foods & Beverages
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
1. CHS Inc.
2. Arkema SA
3. DOW Chemical Company
4. Galata Chemicals Inc.
5. Hairma Chemicals Ltd.
6. Shandong LongkouLongda Chemical Industry Co., Ltd..
7. Ferro Corporation
8. InbraIndustriasQuimicas Ltd.
9. Makwell Plasticizers Pvt. Ltd.
10. Adeka Corporation
11. American Chemical Service
12. Nan Ya Plastics Corporation
13. Hebei Jingu Plasticizer Co., Ltd.
14. Shandong Novista Chemicals Co. Ltd.
15. ShenzenKaiqi Chemical Co. Ltd.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Epoxidized Soybean Oilmarketwas performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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