Soybean Oil Market Size, Share, Types, Products, Trends, Growth, Applications and Forecast 2021 to 2028 The global soybean oil market size was USD 46.72 billion in 2020 and is projected to grow from USD 48.16 billion in 2021 to USD 60.08 billion by 2028, exhibiting a CAGR of 3.21% during the forecast period.The soybean oil serves as a plasticizer for hydrochloric acid released when the PVC degrades thermally. Browse Summary of This Research Report: https://www.fortunebusinessinsights.com/soybean-oil-market-106282

The soybean oil serves as a plasticizer for hydrochloric acid released when the PVC degrades thermally. There is a high demand for soybean oil from the automobile industry as this type of oil is used as a lubricant that can help to improve the fuel efficiency of the automotive engine. Hence, the growing demand for this oil is projected to drive the growth of this market. Further, the soybean oil is temperature resistant, eco-friendly, and readily available. This type of oil requires lower cost of production, which is another major factor driving this market’s growth. https://www.fortunebusinessinsights.com/soybean-oil-market-106282