EPOXIDIZED SOYBEAN OIL MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Regional Analysis

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North America has established itself as the dominant region in the global epoxidized soybean oil market and accounted for 39.8% of the market share. The large presence of end use industries such as plastics & rubber has created a sizable demand for epoxidized soybean oil over the years. Major market players from the paints & coatings industry are based in the U.S. and have helped to establish the region's prominence in this market. North America is also a significant exporter of epoxidized soybean oil to other developed markets.

The Asia Pacific region has emerged as the fastest growing market for epoxidized soybean oil globally over the recent past. Countries such as China and India have experienced rapidly expanding construction and automotive sectors which have substantially boosted the demand for adhesives, sealants, and plasticizers - the major application areas of epoxidized soybean oil. Growing population and rising disposable income have facilitated the growth of end use industries in Asia Pacific. Evolving environmental regulations in the region favoring bio-based and eco-friendly products are benefiting the market. Major market players have also been shifting their production facilities to Asia in order to gain access to rising local demand as well as for exporting to ASEAN countries and the Middle East region. Increasing industrial and infrastructure development especially in Southeast Asian countries is expected to present new market opportunities for epoxidized soybean oil suppliers.