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Mexico Soy-Based Chemicals Market

Mexico 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
Mexico Soy-Based Chemicals Market Size 2024	USD 731.24 million
Mexico Soy-Based Chemicals Market, CAGR	6.16%
Mexico Soy-Based Chemicals Market Size 2032	USD 1,179.22 million

Market Overview

The Mexico Soy-Based Chemicals Market is projected to grow from USD 731.24 million in 2024 to an estimated USD 1,179.22 million by 2032, with a compound annual growth rate (CAGR) of 6.16% from 2025 to 2032. This growth is driven by increasing demand for sustainable and bio-based alternatives to petroleum-derived chemicals, particularly in biodiesel production, plastics, and personal care products.

Key drivers include stringent environmental regulations promoting renewable resources, rising consumer awareness of environmental issues, and advancements in soy processing technologies. These factors are leading to increased adoption of soy-based chemicals across various sectors, including food and beverages, cosmetics, and industrial applications. Additionally, the growing popularity of plant-based diets and the shift towards eco-friendly products are further fueling market expansion.

Geographically, Mexico benefits from its strategic location in Latin America, with significant soybean cultivation supporting the production of soy-based chemicals. The market is characterized by the presence of major players such as Cargill Inc., Archer Daniels Midland Company, and Bunge Limited, who are investing in research and development to enhance product offerings and meet the growing demand for sustainable solutions. These companies are focusing on expanding their production capacities and forming strategic partnerships to strengthen their market position.

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Market Insight

The Mexico Soy-Based Chemicals Market is projected to grow from USD 731.24 million in 2024 to an estimated USD 1,179.22 million by 2032, with a compound annual growth rate (CAGR) of 6.16% from 2025 to 2032.
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.
Key drivers include stringent environmental regulations promoting renewable resources, increasing consumer awareness of sustainability, and advancements in soy processing technologies.
Price volatility of soybeans and supply chain disruptions, along with complex regulatory requirements, pose challenges to market growth.
Central Mexico leads the market, benefiting from a robust industrial base and proximity to major companies, while Northern Mexico sees growth from its proximity to the U.S. and industrial activities.
Increasing consumer preference for eco-friendly and plant-based products is fueling the adoption of soy-based chemicals across industries like food, cosmetics, and packaging.
Innovations in soy processing technologies, such as enzymatic and microbial methods, are enhancing product efficiency and expanding the applications of soy-based chemicals.
Major companies such as Cargill Inc., Archer Daniels Midland Company, and Bunge Limited dominate the market, focusing on research and development to cater to the growing demand for sustainable solutions.

Market Drivers

Rising Demand for Sustainable and Renewable Alternatives

The growing global emphasis on sustainability is a primary driver for the Mexico Soy-Based Chemicals Market. Governments and industries are increasingly seeking eco-friendly alternatives to petroleum-based chemicals to reduce carbon footprints and promote environmental stewardship. Soy-based chemicals, derived from renewable agricultural sources, offer biodegradable and non-toxic properties, making them attractive substitutes in various applications, including biodiesel, plastics, and personal care products. This shift aligns with international sustainability goals and consumer preferences for green products, thereby accelerating the adoption of soy-based chemicals in Mexico.

Technological Advancements in Soy Processing

Advancements in biotechnology and chemical engineering have significantly enhanced the efficiency and cost-effectiveness of soy-based chemical production. For instance, Tetra Pak introduced a whole soya processing method in December 2022 that maximizes nutritional value and usability by cleaning, roasting, and grinding soybeans into versatile paste or flakes suitable for soy milk and tofu applications. This advanced technique improves flavor, reduces anti-nutritional factors, and boosts efficiency and sustainability in soy processing. Such innovations in enzymatic and microbial conversion processes have improved yield and purity, making soy chemicals more competitive with traditional petrochemicals. These technological improvements enable the development of high-performance soy-based products that meet stringent quality requirements in industries such as automotive, construction, and personal care, thereby expanding their market applicability.

Consumer Preference for Eco-Friendly Products

There is a notable shift in consumer behavior towards products that are safe, sustainable, and have a lower environmental impact. This trend is particularly evident in the personal care and household products sectors, where soy-based chemicals are used in formulations for cosmetics, detergents, and cleaning agents. As consumers become more environmentally conscious, the demand for eco-friendly products increases, driving the growth of the soy-based chemicals market in Mexico.

Government Policies and Incentives

Government regulations promoting the use of renewable resources and reducing reliance on fossil fuels play a crucial role in the growth of the soy-based chemicals market. In Mexico, policies encouraging the production and use of biofuels, such as biodiesel, have led to increased demand for soy-based chemicals. These policies not only support environmental objectives but also stimulate economic growth by fostering the development of green technologies and industries.

Market Trends

Advancements in Soy Processing Technologies

Technological innovations in soy processing have significantly improved the efficiency and cost-effectiveness of extracting soy-based chemicals. For instance, Tetra Pak, a leading food packaging and processing company, introduced a whole soya processing method in December 2022 that maximizes the nutritional value and usability of soybeans by employing advanced cleaning, roasting, and grinding techniques. This process enhances the flavor and reduces anti-nutritional factors in soy products, making them more suitable for applications such as soy milk and tofu. By optimizing these processing steps, Tetra Pak’s method not only increases production efficiency but also helps retain essential nutrients, aligning with the demand for healthy and sustainable food options. In Mexico, companies like Proteinol have adopted sustainability-focused practices, and the country now has three licenses for the Sustainable U.S. Soy (SUSS) Label, including Mexico’s largest soy crusher, reflecting the industry’s commitment to sustainable sourcing and processing. Additionally, soy flour, which is approximately 50% protein, has been used in Mexico’s baking industry since the early 1980s to improve both the functional and nutritional qualities of products like tortillas and baked goods. These advancements are supported by collaborations between research institutions and industry players in Mexico, aiming to further refine processing techniques and expand the application of soy-based chemicals in sectors such as cosmetics, pharmaceuticals, and agriculture.

Integration of Soy-Based Chemicals in Sustainable Agriculture

The movement toward sustainable agriculture in Mexico has led to greater use of soy-based chemicals as eco-friendly alternatives to traditional synthetic pesticides and fertilizers. This shift is reinforced by regulatory changes, such as the December 2021 decree to eliminate glyphosate herbicide by 2024, which has accelerated the development and adoption of bio-based agricultural solutions. Companies are responding by investing in research and development of agricultural biologicals and sustainable formulations, with products like soy-based surfactants and bio-based herbicides gaining traction among farmers seeking to reduce environmental impact and comply with organic certification standards. For instance, Futureco Bioscience partnered with Innovak Global to distribute BESTCURE, a sustainable plant bioprotectant, for high-value crops in Mexico as of August 2022. The adoption of these eco-friendly inputs is further encouraged by consumer demand for sustainably produced goods and government policies promoting the reduction of chemical inputs in agriculture. Additionally, Mexico’s soybean production reached 199,570 metric tons in 2023, supporting the increased supply of raw material for soy-based agricultural chemicals. These trends highlight the integration of soy-based solutions into sustainable farming practices, driven by both market demand and regulatory frameworks.

Expansion of Biofuel Production

Mexico’s commitment to renewable energy sources has significantly boosted the demand for soy-based chemicals, particularly in biodiesel production. The country’s strategic initiatives, such as the “Energy Transition Law,” aim to increase the share of clean energy in the national grid, thereby enhancing the utilization of biofuels. Soybean oil, a primary feedstock for biodiesel, is increasingly favored due to its renewable nature and lower carbon footprint compared to traditional fossil fuels. This shift aligns with global sustainability goals and positions Mexico as a key player in the biofuel sector.

Growth in Bioplastics and Green Polymers

The rising environmental awareness among consumers and manufacturers has spurred the development of bioplastics derived from soy-based chemicals. These bioplastics offer a sustainable alternative to conventional petroleum-based plastics, addressing concerns over plastic pollution. In Mexico, industries such as packaging, automotive, and consumer goods are increasingly adopting soy-based polymers due to their biodegradability and reduced environmental impact. This trend is further supported by government incentives promoting the use of renewable materials in manufacturing processes.

Market Challenges

Price Volatility and Supply Chain Instability

The Mexico Soy-Based Chemicals Market faces significant challenges due to fluctuations in soybean prices and supply chain disruptions. Soybeans, a primary feedstock for soy-based chemicals, are subject to price volatility influenced by factors such as weather conditions, global demand, and agricultural policies. In Mexico, where soybean production is limited, reliance on imports from countries like the United States and Brazil exposes the market to supply chain vulnerabilities. For instance, in 2023, Mexico’s soybean imports were expected to increase by about 1.6% to 6.6 million metric tons, primarily due to demand from the poultry and hog sectors. Disruptions in these supply chains, whether due to geopolitical tensions, trade restrictions, or transportation issues, can lead to shortages and increased costs for soy-based chemical producers. This instability hampers the ability of manufacturers to maintain consistent production levels and competitive pricing, potentially deterring investment and slowing market growth. Additionally, fluctuations in soybean prices can impact production costs, as seen in the soy-based lecithin market, where price volatility affects manufacturing stability.

Regulatory and Consumer Awareness Challenges

The adoption of soy-based chemicals in Mexico is impeded by stringent regulatory requirements and limited consumer awareness. Compliance with environmental and safety regulations governing the production and use of bio-based chemicals can be complex and costly, particularly for small and medium-sized enterprises. Additionally, there is a general lack of consumer understanding regarding the benefits and applications of soy-based products. Without widespread recognition of their advantages, such as biodegradability and reduced environmental impact, consumer demand remains subdued. This combination of regulatory hurdles and insufficient consumer education creates a challenging environment for the growth and acceptance of soy-based chemicals in the Mexican market.

Market Opportunities

Expansion in Sustainable Packaging and Bioplastics

The growing demand for eco-friendly packaging solutions presents a significant opportunity for the Mexico Soy-Based Chemicals Market. Soy-based chemicals, particularly soy waxes and polyols, are increasingly utilized in the production of biodegradable plastics and composites. These materials are gaining traction in industries such as packaging, automotive, and construction due to their renewable nature and reduced environmental impact. As global and regional regulations tighten concerning plastic waste and carbon emissions, the shift towards sustainable packaging is expected to accelerate, positioning soy-based chemicals as a preferred alternative.

Growth in Plant-Based Personal Care Products

The rising consumer preference for natural and organic personal care products is driving the adoption of soy-based ingredients in cosmetics and skincare. Soy lecithin, isoflavones, and soy proteins are valued for their moisturizing, anti-aging, and skin-soothing properties. In Mexico, this trend aligns with the increasing demand for clean-label and cruelty-free products. Manufacturers are capitalizing on this shift by incorporating soy-based chemicals into their formulations, thereby expanding their product offerings and catering to the evolving consumer preferences.

Market Segmentation Analysis

By Type

Soy oil holds a dominant share in the market due to its wide-ranging applications in biodiesel, food processing, and industrial manufacturing. Its versatility and renewable nature make it a valuable base chemical across multiple sectors. Soy wax is witnessing increased demand in the candle and personal care industries, particularly in products targeting environmentally conscious consumers. Soy-based polymers, including polyols and resins, are gaining traction in the production of bioplastics, adhesives, and foams. These polymers offer enhanced biodegradability, appealing to industries seeking sustainable alternatives. Soy fatty acids are also expanding in industrial lubricants and cleaning agents due to their non-toxic and biodegradable properties. Furthermore, soy methyl esters are increasingly being used in biodiesel production, supported by Mexico’s push toward renewable energy adoption.

By Application

In terms of application, the industrial segment remains a key driver, utilizing soy-based chemicals in lubricants, solvents, and plastics. Cosmetics and personal care are rapidly emerging applications, driven by consumer preference for plant-based ingredients in skincare and hygiene products. The food and beverage sector also leverages soy derivatives for their nutritional and emulsifying properties. Pharmaceuticals benefit from soy isoflavones and lecithin in drug formulations, while the agriculture sector utilizes soy-based surfactants and biofertilizers to support sustainable farming practices.

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

Central Mexico
Northern Mexico
Southern Mexico
Western Mexico

Regional Analysis

Central Mexico (45%)

Central Mexico, encompassing states like Querétaro, Guanajuato, and Mexico City, leads the market with a 45% share. This region’s dominance is attributed to its robust industrial base, including automotive manufacturing, packaging, and personal care sectors. The presence of major companies such as Cargill and ADM in this area facilitates the production and distribution of soy-based chemicals, catering to both domestic and export demands. Additionally, the proximity to Mexico City enhances access to research institutions and policy support, fostering innovation and adoption of sustainable chemical solutions.

Northern Mexico (30%)

Northern Mexico, covering states like Nuevo León, Chihuahua, and Sonora, holds a 30% share in the soy-based chemicals market. This region benefits from its proximity to the United States, facilitating trade and access to advanced technologies. The automotive and electronics industries in cities like Monterrey drive demand for soy-based polymers and bio-based lubricants. Moreover, the agricultural activities in Sonora contribute to the supply of soybeans, supporting local production of soy-based chemicals.

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Key players

Archer Daniels Midland Company
Cargill, Incorporated
Renewable Lubricants, Inc.
Soy Technologies LLC
VertecBio
Elevance Renewable Sciences, Inc.
Dow Inc.
Calgene, Inc.
BioBased Technologies LLC
Green Plains Inc.

Competitive Analysi

The Mexico Soy-Based Chemicals Market is highly competitive, with several key players driving innovation and market growth. Archer Daniels Midland Company and Cargill, Incorporated are the leading players, leveraging their vast distribution networks and strong research capabilities to dominate the market. These companies have robust product portfolios that cater to a wide range of applications, including biodiesel, bioplastics, and personal care products. Other players like Renewable Lubricants, Inc. and BioBased Technologies LLC focus on specialized applications such as eco-friendly lubricants and surfactants, while companies like Elevance Renewable Sciences and Soy Technologies LLC focus on advanced soy processing technologies. Dow Inc. and Green Plains Inc. are also key contributors, expanding the use of soy-based chemicals in various industrial applications. The market remains dynamic, with ongoing investments in R&D to enhance product performance and sustainability.

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 Mexico Soy-Based Chemicals Market exhibits moderate market concentration, with a few large players, such as Archer Daniels Midland Company and Cargill, Incorporated, holding significant market shares due to their extensive distribution networks and advanced technological capabilities. These companies dominate the market by offering a wide range of soy-based products, including biodiesel, bioplastics, and personal care ingredients. However, the market also includes a number of smaller, specialized companies like Renewable Lubricants, Inc. and Soy Technologies LLC, which cater to niche applications such as eco-friendly lubricants and surfactants. The market is characterized by increasing competition, technological innovation, and a shift towards sustainable production processes, with players focusing on reducing environmental impact while meeting growing consumer demand for renewable and biodegradable chemicals. As sustainability becomes a key factor, the market dynamics continue to evolve, attracting new entrants focused on sustainable chemical solutions.

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 growing emphasis on eco-friendly packaging solutions is driving the adoption of soy-based polymers in the packaging industry.

Innovations in enzymatic and microbial processes are enhancing the efficiency and cost-effectiveness of producing soy-based chemicals.

The increasing consumer preference for natural and organic ingredients is boosting the use of soy-based chemicals in cosmetics and personal care products.

The demand for renewable energy sources is propelling the use of soy-based methyl esters in biodiesel production.

Soy-based surfactants and fertilizers are gaining popularity in sustainable farming practices, enhancing crop yields and reducing environmental impact.

Government incentives and policies promoting renewable resources are accelerating the adoption of soy-based chemicals across various sectors.

Strategic alliances between soy chemical producers and end-users are fostering innovation and expanding market reach.

Companies are investing in research and development to create a broader range of soy-based products catering to diverse industry needs.

Obtaining sustainability certifications is becoming crucial for companies to meet consumer expectations and regulatory requirements.

The increasing awareness and demand for sustainable products in emerging markets are opening new opportunities for soy-based chemicals.

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. Mexico 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 Mexico 31

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

5.2. Export Analysis by Mexico 32

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

CHAPTER NO. 6 : DEMAND SUPPLY ANALYSIS 33

6.1. Demand Analysis by Mexico 33

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

6.2. Supply Analysis by Mexico 34

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

CHAPTER NO. 7 : PRODUCTION ANALYSIS 35

7.1. Production Analysis by Mexico 35

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

CHAPTER NO. 8 : PRICE ANALYSIS 36

8.1. Price Analysis by Type 36

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

8.1.2. Mexico 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. Mexico Soy-Based Chemicals Market: Company Market Share, by Volume, 2023 40

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

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

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

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

11.4. Mexico 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

Mexico 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 – MEXICO ANALYSIS 76

16.1. Type 76

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

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

16.3. Application 77

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

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

16.4. End-Use Industry 78

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

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

CHAPTER NO. 17 : COMPANY PROFILES 79

17.1. Archer Daniels Midland Company 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. Cargill, Incorporated 81

17.3. Renewable Lubricants, Inc. 81

17.4. Soy Technologies LLC 81

17.5. VertecBio™ 81

17.6. Elevance Renewable Sciences, Inc. 81

17.7. Dow Inc. 81

17.8. Calgene, Inc. 81

17.9. BioBased Technologies LLC 81

17.10. Green Plains Inc. 81

List of Figures

FIG NO. 1. Mexico Soy-Based Chemicals Market Revenue, 2018 – 2032 (USD Million) 23

FIG NO. 2. Porter’s Five Forces Analysis for Mexico Soy-Based Chemicals Market 30

FIG NO. 3. Mexico Soy-Based Chemicals Market Import Volume/Revenue, By Mexico, 2018 – 2023 32

FIG NO. 4. Mexico Soy-Based Chemicals Market Export Volume/Revenue, By Mexico, 2018 – 2023 33

FIG NO. 5. Mexico Soy-Based Chemicals Market Demand Volume/Revenue, By Mexico, 2018 – 2023 34

FIG NO. 6. Mexico Soy-Based Chemicals Market Supply Volume/Revenue, By Mexico, 2018 – 2023 35

FIG NO. 7. Mexico Soy-Based Chemicals Market Production Volume/Revenue, By Mexico, 2018 – 2023 36

FIG NO. 8. Mexico Soy-Based Chemicals Market Price, By Type, 2018 – 2023 37

FIG NO. 9. Raw Materials Price Trend Analysis, 2018 – 2023 38

FIG NO. 10. Manufacturing Cost Analysis 39

FIG NO. 11. Manufacturing Process 39

FIG NO. 12. Value Chain Analysis for Mexico Soy-Based Chemicals Market 40

FIG NO. 13. Company Share Analysis, 2023 41

FIG NO. 14. Company Share Analysis, 2023 42

FIG NO. 15. Company Share Analysis, 2023 42

FIG NO. 16. Company Share Analysis, 2023 43

FIG NO. 17. Soy-Based Chemicals Market – Company Volume Market Share, 2023 44

FIG NO. 18. Soy-Based Chemicals Market – Company Revenue Market Share, 2023 45

FIG NO. 19. Soy-Based Chemicals Market Revenue Share, By Type, 2023 & 2032 51

FIG NO. 20. Market Attractiveness Analysis, By Type 52

FIG NO. 21. Incremental Revenue Growth Opportunity by Type, 2024 – 2032 52

FIG NO. 22. Soy-Based Chemicals Market Revenue, By Type, 2018, 2023, 2027 & 2032 53

FIG NO. 23. Mexico Soy-Based Chemicals Market for Soy Oil, Revenue (USD Million) 2018 – 2032 54

FIG NO. 24. Mexico Soy-Based Chemicals Market for Soy Wax, Revenue (USD Million) 2018 – 2032 55

FIG NO. 25. Mexico Soy-Based Chemicals Market for Soy-Based Polymers, Revenue (USD Million) 2018 – 2032 56

FIG NO. 26. Mexico Soy-Based Chemicals Market for Soy Fatty Acids, Revenue (USD Million) 2018 – 2032 57

FIG NO. 27. Mexico Soy-Based Chemicals Market for Soy Methyl Esters, Revenue (USD Million) 2018 – 2032 58

FIG NO. 28. Soy-Based Chemicals Market Revenue Share, By Application, 2023 & 2032 60

FIG NO. 29. Market Attractiveness Analysis, By Application 61

FIG NO. 30. Incremental Revenue Growth Opportunity by Application, 2024 – 2032 61

FIG NO. 31. Soy-Based Chemicals Market Revenue, By Application, 2018, 2023, 2027 & 2032 62

FIG NO. 32. Mexico Soy-Based Chemicals Market for Industrial, Revenue (USD Million) 2018 – 2032 63

FIG NO. 33. Mexico Soy-Based Chemicals Market for Cosmetics & Personal Care, Revenue (USD Million) 2018 – 2032 64

FIG NO. 34. Mexico Soy-Based Chemicals Market for Food & Beverages, Revenue (USD Million) 2018 – 2032 65

FIG NO. 35. Mexico Soy-Based Chemicals Market for Pharmaceuticals, Revenue (USD Million) 2018 – 2032 66

FIG NO. 36. Mexico Soy-Based Chemicals Market for Agriculture, Revenue (USD Million) 2018 – 2032 67

FIG NO. 37. Soy-Based Chemicals Market Revenue Share, By End-Use Industry, 2023 & 2032 69

FIG NO. 38. Market Attractiveness Analysis, By End-Use Industry 70

FIG NO. 39. Incremental Revenue Growth Opportunity by End-Use Industry, 2024 – 2032 70

FIG NO. 40. Soy-Based Chemicals Market Revenue, By End-Use Industry, 2018, 2023, 2027 & 2032 71

FIG NO. 41. Mexico Soy-Based Chemicals Market for Automotive, Revenue (USD Million) 2018 – 2032 72

FIG NO. 42. Mexico Soy-Based Chemicals Market for Construction, Revenue (USD Million) 2018 – 2032 73

FIG NO. 43. Mexico Soy-Based Chemicals Market for Packaging, Revenue (USD Million) 2018 – 2032 74

FIG NO. 44. Mexico Soy-Based Chemicals Market for Healthcare, Revenue (USD Million) 2018 – 2032 75

FIG NO. 45. Mexico Soy-Based Chemicals Market for Others, Revenue (USD Million) 2018 – 2032 76

List of Tables

TABLE NO. 1. : Mexico Soy-Based Chemicals Market: Snapshot 22

TABLE NO. 2. : Drivers for the Soy-Based Chemicals Market: Impact Analysis 26

TABLE NO. 3. : Restraints for the Soy-Based Chemicals Market: Impact Analysis 28

TABLE NO. 4. : Mexico Soy-Based Chemicals Market Revenue, By Type, 2018 – 2023 37

TABLE NO. 5. : Key Raw Materials & Suppliers 38

TABLE NO. 6. : Mexico Soy-Based Chemicals Market Revenue, By Type, 2018 – 2023 (USD Million) 77

TABLE NO. 7. : Mexico Soy-Based Chemicals Market Revenue, By Type, 2024 – 2032 (USD Million) 77

TABLE NO. 8. : Mexico Soy-Based Chemicals Market Revenue, By Application, 2018 – 2023 (USD Million) 78

TABLE NO. 9. : Mexico Soy-Based Chemicals Market Revenue, By Application, 2024 – 2032 (USD Million) 78

TABLE NO. 10. : Mexico Soy-Based Chemicals Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 79

TABLE NO. 11. : Mexico Soy-Based Chemicals Market Revenue, By End-Use Industry, 2024 – 2032 (USD Million) 79

Frequently Asked Questions

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

The Mexico Soy-Based Chemicals Market is projected to grow from USD 731.24 million in 2024 to an estimated USD 1,179.22 million by 2032, with a CAGR of 6.16% from 2025 to 2032.

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

Key drivers include stringent environmental regulations, growing consumer demand for sustainable products, and advancements in soy processing technologies that increase market adoption.

How does Mexico’s geographical location impact the soy-based chemicals market?

Mexico’s strategic location in Latin America, along with significant soybean cultivation, supports local production of soy-based chemicals, fostering market growth.

Who are the major players in the Mexico Soy-Based Chemicals Market?

Major players include Cargill Inc., Archer Daniels Midland Company, and Bunge Limited, who are investing in research and development to expand their product offerings and market presence.

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