Global Blown Soya Oil Market Insights Forecasts to 2033

• The Market Size is Growing at a CAGR of XX% from 2023 to 2033
• The Worldwide Blown Soya Oil Market size is expected to hold a significant share by 2033
• Europe is expected to grow the fastest during the forecast period.  

The Blown Soya Oil Market is anticipated to hold a significant share by 2033, growing at a CAGR of XX% from 2023 to 2033.

Market Overview

Blown soya oil is a refined soybean oil, one that gets oxidized with air or oxygen to enrich it for viscosity, stability, and drying properties. It is widely used in coatings, paints, varnishes, and lubricants as a source of renewable, eco-friendly bio-based oil, replacing petroleum-based oils. Moreover, the popularity of blown soya oil as an alternative to petroleum-based oils for coatings, adhesives, and lubricants is gaining significant momentum because it has more favorable eco-friendly characteristics that provide it with more flexibility, strength of bonding, and durability. Improvement in performance through technological development further reduces costs. Further governmental regulations and incentives encourage the usage of renewable products for sectors seeking environmental balance, such as construction, automobile, and manufacturing. Furthermore, the market for blown soya oil is expanding with the rising demand for sustainable materials in industries such as construction, automotive, and manufacturing. Some of the major trends in the market include innovation in the production process, a higher focus on environment-friendly alternatives, and favorable government policies encouraging renewable resources.

Report Coverage

This research report categorizes the blown soya oil market based on various segments and regions forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the blown soya oil market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the blown soya oil market.

Driving Factors

The key drivers of the blown soya oil market are the rising demand for sustainable and biodegradable products among consumers, awareness of environmental issues, and regulatory pressures for eco-friendly alternatives. Furthermore, the growth of the construction, automotive, and packaging industries, as well as the demand for high-performance, durable materials, are driving the market. Technology advancement and improved production methods are also making blown soya oil a more accessible and cost-effective option for various applications.

Restraints & Challenges

The blown soya oil market encounters challenges such as higher production compared to conventional oils. The raw material supply is restricted, and alternative synthetic options further compete with them. Agricultural production output and also the market value of soya oil may disrupt stability.

Market Segmentation

The blown soya oil market share is classified into product type and application. 

• The hybrid segment accounted for the highest share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.

Based on the product type, the blown soya oil market is divided into hybrid, and pure. Among these, the hybrid segment accounted for the highest share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. This is because hybrid oils possess versatile properties, such as combining the pure benefits of soya oil with modifications to enhance performance. Hybrid oils provide improved stability, durability, and cost-effectiveness, which makes them highly suitable for a variety of industrial applications, including coatings, adhesives, and lubricants. This further makes their wider adoption across industries, with larger market shares.  

• The industrial lubricants segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period.

Based on the application, the blown soya oil market is divided into coatings printing inks, and industrial lubricants. Among these, the industrial lubricants segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period. This growth is driven by increasing demand for high-performance, eco-friendly lubricants from the manufacturing, agricultural, and automotive sectors. The blown soya oil boasts better viscosity and oxidation stability as well as good biodegradability, hence it is quite attractive as a lubricant under extreme conditions to replace the traditionally used lubricants. This gives rise to fast market adoption of this product.  

Regional Segment Analysis of the Blown Soya Oil Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the blown soya oil market over the predicted timeframe.

North America is anticipated to hold the largest share of the blown soya oil market over the predicted timeframe. The reason for this is the strong environmental regulations, increasing concern for sustainability, and high demand in the market across various sectors like automotive, coatings, and industrial lubricants. The emphasis on renewable resources and eco-friendly alternatives, as well as technology advancements and government incentives for bio-based products, place North America as the leader in the market.

Europe is expected to grow at a rapid CAGR of the blown soya oil market during the forecast period. Regional environmental regulations, increasing demand for sustainable and bio-based products, and strong industrial sectors including automotive, coatings, and packaging drive growth in this region. Moreover, Europe's carbon emissions reduction, fossil fuels dependence, and policies with incentives for green technologies contribute to the faster adoption of environmentally friendly alternatives, such as blown soya oil.   

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Blown Soya Oil market along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Cargill
• Bunge Limited
• Dow Chemical Company
• Arkema Group
• Vantage Specialty Chemicals, Inc.
• BASF SE
• Emery Oleochemicals
• Agro Products and Agencies
• Wilmar International Ltd.
• Louis Dreyfus Company
• Vegetable Oil Refiners, Inc.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs) 

Market Segment

• This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the blown soya oil market based on the below-mentioned segments:  

Global Blown Soya Oil Market, By Product Type

• Hybrid
• Pure

Global Blown Soya Oil Market, By Application

• Coatings and Printing Inks
• Industrial lubricants

Global Blown Soya Oil Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa