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Australia Soy-Based Chemicals Market

Australia Soy-Based Chemicals Market By Type (Soy Oil, Soy Wax, Soy-Based Polymers, Soy Fatty Acids, Soy Methyl Esters); By Application (Industrial, Cosmetics & Personal Care, Food & Beverages, Pharmaceuticals, Agriculture); By End Use Industry (Automotive, Construction, Packaging, Healthcare, Others) – Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032

Summary
Table Of Content

REPORT ATTRIBUTE	DETAILS
Historical Period	2020-2023
Base Year	2024
Forecast Period	2025-2032
Australia Soy-Based Chemicals Market Size 2024	USD 215.93 million
Australia Soy-Based Chemicals Market, CAGR	7.88%
Australia Soy-Based Chemicals Market Size 2032	USD 396.27 million

Market Overview

The Australia Soy-Based Chemicals Market is projected to grow from USD 215.93 million in 2024 to an estimated USD 396.27 million by 2032, with a compound annual growth rate (CAGR) of 7.88% from 2025 to 2032. This growth is driven by increasing demand for sustainable and bio-based alternatives to traditional petrochemical products.

Key drivers of this market include stringent environmental regulations and a growing consumer preference for eco-friendly products. Soy-based chemicals offer renewable, biodegradable, and often more environmentally friendly options compared to synthetic materials. This shift is particularly evident in industries such as food and beverages, personal care, and industrial applications, where there’s a notable transition towards plant-based ingredients.

Geographically, the Asia-Pacific region, including Australia, is experiencing significant growth in the soy-based chemicals market. This is attributed to increasing manufacturing activities and a rising demand for sustainable products. Key players in this market include Cargill, Archer Daniels Midland Company, Bunge Limited, and Soy Technologies LLC, who are actively expanding their presence through strategic partnerships and innovations.

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Market Insights

The Australia Soy-Based Chemicals Market is projected to grow from USD 215.93 million in 2024 to USD 396.27 million by 2032, with a CAGR of 7.88% from 2025 to 2032, driven by the demand for sustainable alternatives.
The Global Soy-Based Chemicals Market is projected to grow from USD 28,996.80 million in 2024 to USD 52,069.72 million by 2032, with a CAGR of 7.59% from 2025 to 2032.
A significant driver of growth in the market is the rising preference for sustainable and biodegradable products, particularly in the food, personal care, and industrial sectors.
Innovations in soy processing methods are enhancing the efficiency and cost-effectiveness of producing soy-based chemicals, making them more competitive against traditional petrochemicals.
Strict environmental regulations, including policies promoting renewable resources, are encouraging businesses to adopt soy-based chemicals as eco-friendly alternatives to conventional materials.
High production costs and scalability issues remain a restraint for the soy-based chemicals market, as the price of raw soybeans and processing methods can limit market penetration.
Australia, as part of the Asia-Pacific region, is experiencing significant growth due to an increase in manufacturing activities and a focus on renewable, bio-based products.
Major players like Cargill, Archer Daniels Midland, and Bunge Limited are driving market growth through strategic expansions, partnerships, and innovations in soy-based chemical solutions.

Report Scope

This report segments the Australia Soy-Based Chemicals Market as follows:

Market Drivers

Rising Demand for Sustainable and Biodegradable Products

The growing global emphasis on sustainability has significantly influenced the Australian market for soy-based chemicals. As consumers and industries alike seek eco-friendly alternatives to traditional petrochemical products, soy-based chemicals offer a renewable and biodegradable solution. These chemicals are increasingly utilized in various applications, including biodiesel production, bioplastics, and personal care products, aligning with Australia’s commitment to reducing carbon emissions and promoting environmental responsibility.

Health and Safety Concerns with Conventional Chemicals

Health and safety considerations have driven the shift towards soy-based chemicals in Australia. Conventional chemicals often contain harmful substances that pose risks to human health and the environment. For instance, soy flour, widely used in food products, is not classified as a dangerous substance and contains no hazardous impurities, making it a safer choice for consumers. In contrast, soy-based chemicals are perceived as safer alternatives, particularly in food, cosmetics, and pharmaceutical applications. This perception has led to increased adoption among manufacturers and consumers prioritizing health-conscious and environmentally responsible choices.

Technological Advancements in Soy Processing

Advancements in biotechnology and chemical engineering have enhanced the efficiency and cost-effectiveness of producing soy-based chemicals. Innovations such as improved extraction methods and the development of new soy derivatives have expanded the range of applications for these chemicals. In Australia, these technological improvements have facilitated the incorporation of soy-based chemicals into various industries, including automotive, textiles, and construction. For instance, the Grains Research and Development Corporation (GRDC) has invested significantly in soybean research and development, aiming to improve soybean production and expand its applications across different sectors. This investment supports the development of new soybean varieties and enhances the overall efficiency of soy processing technologies.

Supportive Government Policies and Incentives

The Australian government’s policies and incentives aimed at promoting renewable energy and sustainable practices have bolstered the soy-based chemicals market. Initiatives such as subsidies for biodiesel production and grants for research into bio-based materials have encouraged investment in soy-based chemical technologies. These supportive measures have not only stimulated innovation but also attracted both domestic and international players to the Australian market, fostering a competitive and dynamic industry landscape.

Market Trends

Surge in Demand for Bio-Based Polymers and Plastics

A significant trend in the Australia Soy-Based Chemicals Market is the increasing adoption of soy-derived bio-based plastics and polymers. These materials are gaining traction as sustainable alternatives to conventional petroleum-based plastics, aligning with global efforts to reduce carbon footprints and environmental impact. Industries such as packaging, automotive, and construction are particularly interested in soy-based plastics due to their biodegradability, lower greenhouse gas emissions during production, and comparable performance to traditional plastics. This shift is further supported by advancements in soy chemical processing technologies, which enhance the cost-effectiveness and scalability of producing these bio-based materials.

Expansion in Personal Care and Cosmetics Applications

The personal care industry is witnessing a significant increase in the use of soy-based chemicals, such as soy lecithin, oils, and proteins, in skincare, haircare, and makeup products. Consumers are increasingly seeking clean-label and natural products due to concerns over synthetic chemicals. Soy-based ingredients are valued for their skin compatibility, moisturizing properties, and natural origin, making them appealing to health-conscious consumers. For instance, companies are incorporating these ingredients into a variety of products like soaps, shampoos, and cosmetics, which are gaining popularity due to their gentle, natural, and skin-friendly benefits.

Growth in Biodiesel Production and Renewable Energy Sources

In Australia, the government’s emphasis on reducing greenhouse gas emissions and promoting renewable energy sources is driving the demand for soy-based biodiesel. Soy methyl ester (SME), derived from soy oil, is used as a cleaner alternative to traditional diesel fuels, offering lower carbon emissions and contributing to energy security. For instance, the National Biodiesel plant in New South Wales is expected to consume approximately 1.1 million metric tons of soybeans annually when production begins, highlighting the growing role of soy in biodiesel production. The expansion of biodiesel production facilities and supportive policies are expected to further drive the growth of soy-based biodiesel in Australia.

Technological Advancements in Soy Chemical Processing

Advancements in biotechnology and chemical engineering are enhancing the efficiency and cost-effectiveness of producing soy-based chemicals. Innovations such as improved extraction methods, enzyme-based processes, and the development of novel soy derivatives are expanding the range of applications for these chemicals. These technological improvements enable manufacturers to produce high-quality soy-based products at competitive prices, facilitating their adoption across various industries, including automotive, textiles, and construction.

Market Challenges

High Production Costs and Scalability Issues

One of the major challenges in the Australia Soy-Based Chemicals Market is the high production costs associated with soy-based chemicals. Companies such as ADM and Cargill have invested in new facilities and research to develop soy-based biomaterials and plastics, aiming to improve production efficiency and product performance. For instance, ADM recently announced a new facility dedicated to soy-based biomaterials, reflecting efforts to innovate despite the cost barriers. Similarly, Cargill has invested in research and development to enhance soy-based plastics, indicating industry commitment to overcoming economic hurdles. However, the cost of sourcing and processing soybeans remains relatively high compared to petrochemical alternatives, partly due to the need for specialized equipment and advanced processing technologies. The Australian market’s relatively small size and volatility further complicate scalability, as smaller manufacturers struggle to achieve cost-effectiveness against larger players. Harvest B’s establishment of a modern protein ingredient facility in Western Sydney exemplifies attempts to scale production with advanced manufacturing technology, yet the economic landscape still poses challenges for widespread adoption. Additionally, fluctuations in raw material prices, such as soy oil, impact production costs and market stability. Despite these challenges, ongoing technological advancements and government incentives for renewable products are gradually fostering a more favorable environment for soy-based chemicals in Australia, though full market potential remains constrained by current cost structures and supply limitations.

Competition from Synthetic and Petrochemical Alternatives

The competition from synthetic and petrochemical-based alternatives continues to be a significant challenge for the Australian soy-based chemicals market. Despite the growing consumer demand for sustainable and bio-based products, traditional petrochemical-derived chemicals still dominate many industries due to their lower costs, established production processes, and widespread availability. In sectors such as packaging, automotive, and agriculture, manufacturers may be hesitant to switch to soy-based chemicals unless clear cost advantages are evident. Moreover, synthetic alternatives often offer a broader range of established applications, making them a preferred option for many companies. This market rivalry limits the growth potential of soy-based chemicals, particularly in price-sensitive sectors, and slows the pace of market transition towards more sustainable solutions. Addressing these competitive pressures requires ongoing innovation, cost reduction strategies, and consumer education on the benefits of soy-based alternatives.

Market Opportunities

Expansion into Bio-Based Plastics and Polymers

A significant opportunity within the Australian soy-based chemicals market lies in the development of bio-based plastics and polymers. As industries seek sustainable alternatives to petroleum-based plastics, soy-derived materials such as soy-based polyols and resins are gaining attention for their biodegradability and reduced environmental impact. These soy-based polymers are increasingly utilized in applications ranging from packaging to automotive components, aligning with Australia’s commitment to reducing carbon emissions and promoting renewable resources. The adoption of soy-based plastics not only supports environmental sustainability but also offers potential cost advantages due to the renewable nature of soybeans compared to fossil fuels.

Growth in Natural Additives for Food and Personal Care

Another promising avenue is the use of soy-based chemicals as natural additives in food and personal care products. Ingredients like soy lecithin and isoflavones are valued for their emulsifying properties and health benefits, making them popular choices in clean-label and plant-based formulations. The increasing consumer preference for natural and non-toxic ingredients is driving demand in sectors such as food processing, cosmetics, and pharmaceuticals. Leveraging soy-based additives can enhance product appeal and cater to the growing market segment that prioritizes health-conscious and environmentally friendly options.

Market Segmentation Analysis

By Type

Soy oil holds a significant share in the soy-based chemicals market due to its wide applications in biodiesel production, food products, and industrial uses. As a renewable resource, soy oil is increasingly being used as a more sustainable alternative to petroleum-based products. It is also utilized in lubricants, paints, and coatings. Soy wax is gaining popularity as an eco-friendly and renewable alternative to paraffin wax, which is derived from petroleum. Used primarily in candles and cosmetics, soy wax is favored for its biodegradable properties and lower environmental impact, which appeals to eco-conscious consumers. Soy-based polymers are witnessing growth as they replace conventional petrochemical-based plastics in several industries, including automotive, packaging, and construction. These bio-based plastics are biodegradable and offer sustainability benefits, making them ideal for use in eco-friendly products. Soy fatty acids are versatile chemicals used in a variety of applications, including the production of soaps, detergents, lubricants, and coatings. These fatty acids are highly valued for their low environmental footprint and natural origin, making them an attractive alternative to synthetic chemicals. Soy methyl esters (SMEs) are primarily used in the production of biodiesel. This segment benefits from the increasing demand for renewable energy sources and the growing trend of using plant-based fuels to reduce carbon emissions. SMEs are also used in the cosmetics and food industries.

By Application

Soy-based chemicals are extensively used in industrial applications, such as manufacturing lubricants, paints, and coatings. The industrial sector’s demand for sustainable and cost-effective alternatives to petrochemicals is driving the adoption of soy-based products. Soy-derived ingredients, such as soy lecithin, are increasingly used in cosmetics and personal care products for their emulsifying and moisturizing properties. As consumers shift towards natural and organic products, the demand for soy-based chemicals in this sector continues to grow. Soy-based chemicals, such as lecithin and isoflavones, are commonly used in the food industry as emulsifiers and additives. They are found in a variety of processed foods, from chocolates to salad dressings, and cater to the growing demand for plant-based and healthy ingredients. In the pharmaceutical industry, soy-based chemicals are utilized for their health benefits and as excipients in drug formulations. Soy lecithin is particularly used for its ability to improve bioavailability in drugs and supplements, meeting the rising demand for natural pharmaceutical ingredients. Soy-based chemicals are used in agriculture as natural pesticides, surfactants, and growth enhancers. Their sustainable nature and reduced toxicity compared to traditional chemicals make them an attractive option for organic farming and environmentally conscious agricultural practices.

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Segments

Based on Type

Soy Oil
Soy Wax
Soy-Based Polymers
Soy Fatty Acids
Soy Methyl Esters

Based on Application

Industrial
Cosmetics & Personal Care
Food & Beverages
Pharmaceuticals
Agriculture

Based on End Use Industry

Automotive
Construction
Packaging
Healthcare
Others

Based on Region

New South Wales
Queensland
Victoria

Regional Analysis

New South Wales (40%)

NSW holds the largest share of the Australian soy-based chemicals market, accounting for approximately 40% of the total market. The state’s central role in Australia’s agriculture and manufacturing sectors contributes to its dominance in the production of soy-derived chemicals. Additionally, NSW’s strong industrial base, particularly in the food and beverages, cosmetics, and packaging industries, is a significant factor driving the adoption of soy-based products. The state’s emphasis on sustainability and environmental policies further encourages the shift towards renewable materials, including soy-based chemicals.

Victoria (30%)

Victoria represents around 30% of the market share in the soy-based chemicals sector. The state is a major hub for the automotive, healthcare, and construction industries, where soy-based polymers and chemicals are gaining traction due to their eco-friendly properties. Victoria’s focus on renewable energy and sustainable manufacturing practices aligns well with the growing demand for soy-based alternatives in various industrial applications. The state’s policies aimed at reducing carbon emissions also drive the use of sustainable chemicals, including those derived from soy.

Key players

Wilmar International Limited
IOI Corporation Berhad
Godrej Agrovet Ltd.
PT SMART Tbk
KLK OLEO
Shandong Yuwang Industrial Co., Ltd.
Nihon Emulsion Co., Ltd.
Fuji Oil Holdings Inc.
Sime Darby Oils
Toyo Kagaku Co., Ltd.

Competitive Analysis

The Australian Soy-Based Chemicals Market is highly competitive, with several key players dominating the industry. Wilmar International Limited, a global leader in agribusiness and food ingredients, is at the forefront, leveraging its extensive distribution networks and robust product portfolio. IOI Corporation Berhad and Godrej Agrovet Ltd. also hold significant market shares due to their strong presence in the food and agricultural sectors. These companies focus on expanding their product offerings and enhancing sustainability practices to meet the increasing demand for eco-friendly products. PT SMART Tbk and KLK OLEO lead in bio-based oils and derivatives, capitalizing on the growing demand for biodiesel and sustainable chemical solutions. Emerging players like Shandong Yuwang Industrial Co., Ltd. and Nihon Emulsion Co., Ltd. are gaining ground through innovation in soy-based emulsifiers and oils. The market is also witnessing strategic partnerships and acquisitions aimed at expanding capabilities and accessing new customer bases.

Recent Developments

On October 7, 2024, Evonik and BASF agreed on the first delivery of biomass-balanced ammonia, achieving a product carbon footprint reduction of over 65%. This collaboration supports Evonik’s sustainable product lines like VESTAMIN IPD eCO and VESTAMID eCO.

On February 26, 2025, Arkema announced a 15% expansion of its polyvinylidene fluoride (PVDF) production capacity at its Calvert City, Kentucky plant. This $20 million investment aims to meet the growing demand for high-performance resins in electric vehicles and energy storage systems.

On February 25, 2025, AkzoNobel offered to acquire powder coatings assets and the International Research Center from its subsidiary in India. This move is part of the company’s strategy to focus more on liquid paints and coatings in the Indian market.

In February 2025, Perstorp Holding AB began ester production at its Amsterdam plant, marking a significant step in expanding its product offerings in the sustainable chemicals sector.

Market Concentration and Characteristics

The Australia Soy-Based Chemicals Market exhibits moderate to high concentration, with a few large multinational companies dominating the sector alongside a growing number of regional players. Major players like Wilmar International Limited, IOI Corporation Berhad, and Godrej Agrovet Ltd. hold significant market shares due to their extensive production capabilities, well-established distribution networks, and diverse product portfolios. The market is characterized by a focus on sustainable and renewable solutions, driven by increasing demand for eco-friendly and biodegradable chemicals across various industries, including food, personal care, and automotive. Despite the dominance of key players, the market also sees innovation and competition from smaller regional companies that specialize in niche applications, such as biodiesel production, soy-based polymers, and natural additives, contributing to a dynamic and evolving market landscape.

Report Coverage

The research report offers an in-depth analysis based on Type, Application, End Use Industry and Region. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.

Future Outlook

The increasing consumer preference for eco-friendly products will continue driving the adoption of soy-based chemicals in industries like packaging, cosmetics, and food.

Technological innovations in soy chemical extraction and processing will lead to more efficient and cost-effective production methods, making soy-based chemicals more competitive.

The demand for biofuels, particularly soy methyl esters in biodiesel production, will surge as Australia aims to meet its renewable energy targets and reduce carbon emissions.

Soy-based polymers and waxes will see increased usage in the packaging industry due to their biodegradable nature, responding to growing concerns over plastic waste.

Consumers’ demand for natural and non-toxic ingredients in personal care and food products will drive further adoption of soy-based chemicals in cosmetics and pharmaceuticals.

Australian government policies promoting sustainability and renewable energy will provide financial incentives, boosting the development and use of soy-based chemicals.

The automotive and construction industries will increasingly use soy-based chemicals, particularly in bio-based plastics and coatings, as part of their drive for greener production methods.

Soy-based chemicals will continue to be adopted in agriculture, especially in organic farming, for natural pesticides and surfactants, reducing dependency on synthetic chemicals

The Australian soy-based chemicals market will benefit from increased investments in R&D, which will focus on improving the quality and variety of soy-based products for diverse industries.

With growing global demand for sustainable products, Australia’s soy-based chemicals market will see an increase in exports, particularly to the Asia-Pacific region, where eco-friendly products are gaining popularity.

CHAPTER NO. 1 : INTRODUCTION 19

1.1.1. Report Description 19

Purpose of the Report 19

USP & Key Offerings 19

1.1.2. Key Benefits for Stakeholders 19

1.1.3. Target Audience 20

1.1.4. Report Scope 20

CHAPTER NO. 2 : EXECUTIVE SUMMARY 21

2.1. Soy-Based Chemicals Market Snapshot 21

2.1.1. Australia Soy-Based Chemicals Market, 2018 – 2032 (USD Million) 22

CHAPTER NO. 3 : GEOPOLITICAL CRISIS IMPACT ANALYSIS 23

3.1. Russia-Ukraine and Israel-Palestine War Impacts 23

CHAPTER NO. 4 : SOY-BASED CHEMICALS MARKET – INDUSTRY ANALYSIS 24

4.1. Introduction 24

4.2. Market Drivers 25

4.2.1. Increasing demand for sustainable and biodegradable chemicals 25

4.2.2. Rising adoption of soy-based chemicals in industrial and personal care applications 26

4.3. Market Restraints 27

4.3.1. High production costs compared to petrochemical alternatives 27

4.4. Market Opportunities 28

4.4.1. Growing investments in R&D for advanced soy-based chemical formulations 28

4.5. Porter’s Five Forces Analysis 29

4.6. Buying Criteria 30

CHAPTER NO. 5 : IMPORT EXPORT ANALYSIS 31

5.1. Import Analysis by Australia 31

5.1.1. Australia Soy-Based Chemicals Market Import Volume/Revenue, By Australia, 2018 – 2023 31

5.2. Export Analysis by Australia 32

5.2.1. Australia Soy-Based Chemicals Market Export Volume/Revenue, By Australia, 2018 – 2023 32

CHAPTER NO. 6 : DEMAND SUPPLY ANALYSIS 33

6.1. Demand Analysis by Australia 33

6.1.1. Australia Soy-Based Chemicals Market Demand Volume/Revenue, By Australia, 2018 – 2023 33

6.2. Supply Analysis by Australia 34

6.2.1. Australia Soy-Based Chemicals Market Supply Volume/Revenue, By Australia, 2018 – 2023 34

CHAPTER NO. 7 : PRODUCTION ANALYSIS 35

7.1. Production Analysis by Australia 35

7.1.1. Australia Soy-Based Chemicals Market Production Volume/Revenue, By Australia, 2018 – 2023 35

CHAPTER NO. 8 : PRICE ANALYSIS 36

8.1. Price Analysis by Type 36

8.1.1. Australia Soy-Based Chemicals Market Price, By Type, 2018 – 2023 36

8.1.2. Australia Type Market Price, By Type, 2018 – 2023 36

CHAPTER NO. 9 : RAW MATERIALS ANALYSIS 37

9.1. Key Raw Materials and Suppliers 37

9.2. Key Raw Materials Price Trend 37

CHAPTER NO. 10 : MANUFACTURING COST ANALYSIS 38

10.1. Manufacturing Cost Analysis 38

10.2. Manufacturing Process 38

CHAPTER NO. 11 : ANALYSIS COMPETITIVE LANDSCAPE 39

11.1. Company Market Share Analysis – 2023 39

11.2. Value Chain Analysis 39

11.2.1. Australia Soy-Based Chemicals Market: Company Market Share, by Volume, 2023 40

11.2.2. Australia Soy-Based Chemicals Market: Company Market Share, by Revenue, 2023 41

11.2.3. Australia Soy-Based Chemicals Market: Top 6 Company Market Share, by Revenue, 2023 41

11.2.4. Australia Soy-Based Chemicals Market: Top 3 Company Market Share, by Revenue, 2023 42

11.3. Australia Soy-Based Chemicals Market Company Volume Market Share, 2023 43

11.4. Australia Soy-Based Chemicals Market Company Revenue Market Share, 2023 44

11.5. Company Assessment Metrics, 2023 44

11.5.1. Stars 44

11.5.2. Emerging Leaders 44

11.5.3. Pervasive Players 44

11.5.4. Participants 44

11.6. Start-ups /SMEs Assessment Metrics, 2023 44

11.6.1. Progressive Companies 44

11.6.2. Responsive Companies 45

11.6.3. Dynamic Companies 45

11.6.4. Starting Blocks 45

11.7. Strategic Developments 46

11.7.1. Acquisitions & Mergers 46

New Product Launch 46

Australia Expansion 46

11.8. Key Players Product Matrix 47

CHAPTER NO. 12 : PESTEL & ADJACENT MARKET ANALYSIS 48

12.1. PESTEL 48

12.1.1. Political Factors 48

12.1.2. Economic Factors 48

12.1.3. Social Factors 48

12.1.4. Technological Factors 48

12.1.5. Environmental Factors 48

12.1.6. Legal Factors 48

12.2. Adjacent Market Analysis 48

CHAPTER NO. 13 : SOY-BASED CHEMICALS MARKET – BY TYPE SEGMENT ANALYSIS 49

13.1. Soy-Based Chemicals Market Overview, by Type Segment 49

13.1.1. Soy-Based Chemicals Market Revenue Share, By Type, 2023 & 2032 50

13.1.2. Soy-Based Chemicals Market Attractiveness Analysis, By Type 51

13.1.3. Incremental Revenue Growth Opportunity, by Type, 2024 – 2032 51

13.1.4. Soy-Based Chemicals Market Revenue, By Type, 2018, 2023, 2027 & 2032 52

13.2. Soy Oil 53

13.3. Soy Wax 54

13.4. Soy-Based Polymers 55

13.5. Soy Fatty Acids 56

13.6. Soy Methyl Esters 57

CHAPTER NO. 14 : SOY-BASED CHEMICALS MARKET – BY APPLICATION SEGMENT ANALYSIS 58

14.1. Soy-Based Chemicals Market Overview, by Application Segment 58

14.1.1. Soy-Based Chemicals Market Revenue Share, By Application, 2023 & 2032 59

14.1.2. Soy-Based Chemicals Market Attractiveness Analysis, By Application 60

14.1.3. Incremental Revenue Growth Opportunity, by Application, 2024 – 2032 60

14.1.4. Soy-Based Chemicals Market Revenue, By Application, 2018, 2023, 2027 & 2032 61

14.2. Industrial 62

14.3. Cosmetics & Personal Care 63

14.4. Food & Beverages 64

14.5. Pharmaceuticals 65

14.6. Agriculture 66

CHAPTER NO. 15 : SOY-BASED CHEMICALS MARKET – BY END-USE INDUSTRY SEGMENT ANALYSIS 67

15.1. Soy-Based Chemicals Market Overview, by End-Use Industry Segment 67

15.1.1. Soy-Based Chemicals Market Revenue Share, By End-Use Industry, 2023 & 2032 68

15.1.2. Soy-Based Chemicals Market Attractiveness Analysis, By End-Use Industry 69

15.1.3. Incremental Revenue Growth Opportunity, by End-Use Industry, 2024 – 2032 69

15.1.4. Soy-Based Chemicals Market Revenue, By End-Use Industry, 2018, 2023, 2027 & 2032 70

15.2. Automotive 71

15.3. Construction 72

15.4. Packaging 73

15.5. Healthcare 74

15.6. Others 75

CHAPTER NO. 16 : SOY-BASED CHEMICALS MARKET – AUSTRALIA ANALYSIS 76

16.1. Type 76

16.1.1. Australia Soy-Based Chemicals Market Revenue, By Type, 2018 – 2023 (USD Million) 76

16.2. Australia Soy-Based Chemicals Market Revenue, By Type, 2024 – 2032 (USD Million) 76

16.3. Application 77

16.3.1. Australia Soy-Based Chemicals Market Revenue, By Application, 2018 – 2023 (USD Million) 77

16.3.2. Australia Soy-Based Chemicals Market Revenue, By Application, 2024 – 2032 (USD Million) 77

16.4. End-Use Industry 78

16.4.1. Australia Soy-Based Chemicals Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 78

16.4.2. Australia Soy-Based Chemicals Market Revenue, By End-Use Industry, 2024 – 2032 (USD Million) 78

CHAPTER NO. 17 : COMPANY PROFILES 79

17.1. Wilmar International Limited 79

17.1.1. Company Overview 79

17.1.2. Product Portfolio 79

17.1.3. Swot Analysis 79

17.1.4. Business Strategy 80

17.1.5. Financial Overview 80

17.2. IOI Corporation Berhad 81

17.3. Godrej Agrovet Ltd. 81

17.4. PT SMART Tbk 81

17.5. KLK OLEO 81

17.6. Shandong Yuwang Industrial Co., Ltd. 81

17.7. Nihon Emulsion Co., Ltd. 81

17.8. Fuji Oil Holdings Inc. 81

17.9. Sime Darby Oils 81

17.10. Toyo Kagaku Co., Ltd. 81

List of Figures

FIG NO. 1. Australia Soy-Based Chemicals Market Revenue, 2018 – 2032 (USD Million) 22

FIG NO. 2. Porter’s Five Forces Analysis for Australia Soy-Based Chemicals Market 29

FIG NO. 3. Australia Soy-Based Chemicals Market Import Volume/Revenue, By Australia, 2018 – 2023 31

FIG NO. 4. Australia Soy-Based Chemicals Market Export Volume/Revenue, By Australia, 2018 – 2023 32

FIG NO. 5. Australia Soy-Based Chemicals Market Demand Volume/Revenue, By Australia, 2018 – 2023 33

FIG NO. 6. Australia Soy-Based Chemicals Market Supply Volume/Revenue, By Australia, 2018 – 2023 34

FIG NO. 7. Australia Soy-Based Chemicals Market Production Volume/Revenue, By Australia, 2018 – 2023 35

FIG NO. 8. Australia Soy-Based Chemicals Market Price, By Type, 2018 – 2023 36

FIG NO. 9. Raw Materials Price Trend Analysis, 2018 – 2023 37

FIG NO. 10. Manufacturing Cost Analysis 38

FIG NO. 11. Manufacturing Process 38

FIG NO. 12. Value Chain Analysis for Australia Soy-Based Chemicals Market 39

FIG NO. 13. Company Share Analysis, 2023 40

FIG NO. 14. Company Share Analysis, 2023 41

FIG NO. 15. Company Share Analysis, 2023 41

FIG NO. 16. Company Share Analysis, 2023 42

FIG NO. 17. Soy-Based Chemicals Market – Company Volume Market Share, 2023 43

FIG NO. 18. Soy-Based Chemicals Market – Company Revenue Market Share, 2023 44

FIG NO. 19. Soy-Based Chemicals Market Revenue Share, By Type, 2023 & 2032 50

FIG NO. 20. Market Attractiveness Analysis, By Type 51

FIG NO. 21. Incremental Revenue Growth Opportunity by Type, 2024 – 2032 51

FIG NO. 22. Soy-Based Chemicals Market Revenue, By Type, 2018, 2023, 2027 & 2032 52

FIG NO. 23. Australia Soy-Based Chemicals Market for Soy Oil, Revenue (USD Million) 2018 – 2032 53

FIG NO. 24. Australia Soy-Based Chemicals Market for Soy Wax, Revenue (USD Million) 2018 – 2032 54

FIG NO. 25. Australia Soy-Based Chemicals Market for Soy-Based Polymers, Revenue (USD Million) 2018 – 2032 55

FIG NO. 26. Australia Soy-Based Chemicals Market for Soy Fatty Acids, Revenue (USD Million) 2018 – 2032 56

FIG NO. 27. Australia Soy-Based Chemicals Market for Soy Methyl Esters, Revenue (USD Million) 2018 – 2032 57

FIG NO. 28. Soy-Based Chemicals Market Revenue Share, By Application, 2023 & 2032 59

FIG NO. 29. Market Attractiveness Analysis, By Application 60

FIG NO. 30. Incremental Revenue Growth Opportunity by Application, 2024 – 2032 60

FIG NO. 31. Soy-Based Chemicals Market Revenue, By Application, 2018, 2023, 2027 & 2032 61

FIG NO. 32. Australia Soy-Based Chemicals Market for Industrial, Revenue (USD Million) 2018 – 2032 62

FIG NO. 33. Australia Soy-Based Chemicals Market for Cosmetics & Personal Care, Revenue (USD Million) 2018 – 2032 63

FIG NO. 34. Australia Soy-Based Chemicals Market for Food & Beverages, Revenue (USD Million) 2018 – 2032 64

FIG NO. 35. Australia Soy-Based Chemicals Market for Pharmaceuticals, Revenue (USD Million) 2018 – 2032 65

FIG NO. 36. Australia Soy-Based Chemicals Market for Agriculture, Revenue (USD Million) 2018 – 2032 66

FIG NO. 37. Soy-Based Chemicals Market Revenue Share, By End-Use Industry, 2023 & 2032 68

FIG NO. 38. Market Attractiveness Analysis, By End-Use Industry 69

FIG NO. 39. Incremental Revenue Growth Opportunity by End-Use Industry, 2024 – 2032 69

FIG NO. 40. Soy-Based Chemicals Market Revenue, By End-Use Industry, 2018, 2023, 2027 & 2032 70

FIG NO. 41. Australia Soy-Based Chemicals Market for Automotive, Revenue (USD Million) 2018 – 2032 71

FIG NO. 42. Australia Soy-Based Chemicals Market for Construction, Revenue (USD Million) 2018 – 2032 72

FIG NO. 43. Australia Soy-Based Chemicals Market for Packaging, Revenue (USD Million) 2018 – 2032 73

FIG NO. 44. Australia Soy-Based Chemicals Market for Healthcare, Revenue (USD Million) 2018 – 2032 74

FIG NO. 45. Australia Soy-Based Chemicals Market for Others, Revenue (USD Million) 2018 – 2032 75

List of Tables

TABLE NO. 1. : Australia Soy-Based Chemicals Market: Snapshot 21

TABLE NO. 2. : Drivers for the Soy-Based Chemicals Market: Impact Analysis 25

TABLE NO. 3. : Restraints for the Soy-Based Chemicals Market: Impact Analysis 27

TABLE NO. 4. : Australia Soy-Based Chemicals Market Revenue, By Type, 2018 – 2023 36

TABLE NO. 5. : Key Raw Materials & Suppliers 37

TABLE NO. 6. : Australia Soy-Based Chemicals Market Revenue, By Type, 2018 – 2023 (USD Million) 76

TABLE NO. 7. : Australia Soy-Based Chemicals Market Revenue, By Type, 2024 – 2032 (USD Million) 76

TABLE NO. 8. : Australia Soy-Based Chemicals Market Revenue, By Application, 2018 – 2023 (USD Million) 77

TABLE NO. 9. : Australia Soy-Based Chemicals Market Revenue, By Application, 2024 – 2032 (USD Million) 77

TABLE NO. 10. : Australia Soy-Based Chemicals Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 78

TABLE NO. 11. : Australia Soy-Based Chemicals Market Revenue, By End-Use Industry, 2024 – 2032 (USD Million) 78

Frequently Asked Questions

What is the market size of the Australia Soy-Based Chemicals Market in 2023 and 2032?

The Australia Soy-Based Chemicals Market was valued at USD 215.93 million in 2024 and is projected to reach USD 396.27 million by 2032, growing at a CAGR of 7.88% from 2025 to 2032

What are the key drivers of the Australia Soy-Based Chemicals Market?

The key drivers include increasing demand for eco-friendly products, stringent environmental regulations, and a shift towards sustainable and biodegradable alternatives to petrochemical products.

Which industries are seeing a transition towards soy-based chemicals?

Industries such as food and beverages, personal care, and industrial applications are adopting soy-based chemicals due to their renewable and environmentally friendly properties.

Who are the key players in the Australia Soy-Based Chemicals Market?

Key players include Cargill, Archer Daniels Midland Company, Bunge Limited, and Soy Technologies LLC, who are expanding their market presence through partnerships and innovation.

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