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ESBO Market Growth Driven by Industries
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Overview
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The Epoxidized Soybean Oil (ESBO) market is projected to grow from $494 million in 2023 to $648 million by 2028 at a CAGR of 5.6%. Key drivers include demand from various industries like food & beverages, adhesives, sealants, and automotive, with a focus on organic stabilizers and bio-based additives. The Asia Pacific region is expected to witness the fastest growth in the ESBO market, driven by the demand for eco-friendly plasticizers.
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How does the growth of the ESBO market reflect broader trends in the chemical industry?
How might the shift towards eco-friendly plasticizers impact the overall ESBO market?
What strategies can companies employ to address the challenges posed by alternative stabilizers?
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