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North American 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

Name: North American Soy-Based Chemicals Market - Demand, Size and Competitive Analysis
Creator: Credence Research Inc.
Published: 2025-04-19
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Keywords: North American Soy-Based Chemicals Market

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REPORT ATTRIBUTE	DETAILS
Historical Period	2020-2023
Base Year	2024
Forecast Period	2025-2032
North America Soy-Based Chemicals Market Size 2024	USD 10,170.63 million
North America Soy-Based Chemicals Market, CAGR	7.51%
North America Soy-Based Chemicals Market Size 2032	USD 18,159.31 million

Market Overview

The North America Soy-Based Chemicals Market is projected to grow from USD 10,170.63 million in 2024 to an estimated USD 18,159.31 million by 2032, with a compound annual growth rate (CAGR) of 7.51% from 2025 to 2032. This growth is attributed to the increasing demand for sustainable and renewable alternatives to petroleum-based chemicals, driven by environmental concerns and regulatory pressures.

Key drivers include the rising adoption of biofuels, particularly biodiesel, and the expanding use of soy-based chemicals in various applications such as food and beverages, personal care, and plastics. Government incentives and technological advancements further support the development of high-performance soy-based products.

Geographically, the United States leads the North American market, accounting for a significant share due to its robust soybean production and established infrastructure. Major players in the region include Dow, Archer Daniels Midland Company, Cargill Inc., and Bunge Limited, who are investing in research and development to enhance product offerings and expand market presence.

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Market Insights

The North America Soy-Based Chemicals Market is projected to grow from USD 10,170.63 million in 2024 to an estimated USD 18,159.31 million by 2032, with a compound annual growth rate (CAGR) of 7.51% 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 increasing adoption of biodiesel, the rising popularity of eco-friendly products in personal care, food, and packaging, and government incentives promoting renewable resources.
The market faces challenges such as the volatility of raw material prices, particularly soybeans, and the competition from traditional petrochemical products.
Technological innovations in soy-based chemical production are improving efficiency, lowering costs, and enhancing product performance, boosting market growth.
Growing consumer preference for natural and sustainable products is driving the shift toward soy-based chemicals in various industries, including food and cosmetics.
The United States leads the market due to its significant soybean production and infrastructure, with Mexico and Canada contributing to regional growth.
Major market players like Dow, Cargill, and Archer Daniels Midland Company continue to lead through investments in R&D, enhancing soy-based product offerings and market share.

Market Drivers

Technological Advancements in Soy Processing

Technological innovations have significantly improved the production processes of soy-based chemicals, making them more competitive with traditional petrochemicals. Advancements in extraction and processing technologies have led to higher yields and enhanced performance characteristics of soy-derived products. These improvements not only reduce production costs but also expand the range of applications for soy-based chemicals, from biodiesel and bioplastics to personal care products and industrial solvents. As technology continues to evolve, the efficiency and versatility of soy-based chemicals are expected to further increase, driving greater adoption across various industries.

Consumer Preference for Eco-Friendly Products

There is a noticeable shift in consumer behavior towards products that are perceived as environmentally friendly and sustainable. This trend is influencing industries to incorporate bio-based ingredients into their offerings. In sectors like cosmetics, food and beverages, and packaging, consumers are increasingly favoring products made with renewable resources, such as soy-based chemicals. This growing consumer demand for eco-conscious products is compelling companies to source and utilize soy-based ingredients, thereby driving the market for soy-based chemicals in North America.

Growing Demand for Sustainable Alternatives

The increasing global emphasis on sustainability is a primary driver for the North American soy-based chemicals market. As industries seek eco-friendly alternatives to traditional petroleum-based products, soy-based chemicals offer a renewable and biodegradable option. This shift is particularly evident in sectors like biodiesel production, where soybean oil serves as a cleaner-burning fuel compared to fossil fuels. For instance, companies like IFF are committed to sourcing sustainable soybeans, ensuring that their production does not contribute to deforestation and respects human rights. The adoption of soy-based chemicals aligns with the broader trend towards reducing carbon footprints and promoting environmental responsibility. Additionally, advancements in biotechnology have enhanced the efficiency and cost-effectiveness of producing soy-based chemicals, further accelerating their market penetration.

Supportive Government Policies and Regulations

Government initiatives and regulations play a crucial role in driving the adoption of soy-based chemicals in North America. Policies promoting renewable energy sources, such as biodiesel mandates and incentives for bio-based product development, create a favorable environment for the growth of the soy-based chemicals market. These regulations not only encourage the use of sustainable materials but also provide financial incentives that reduce the economic barriers for companies transitioning to bio-based alternatives. For example, the U.S. Soy Sustainability Assurance Protocol (SSAP) ensures that soybean production adheres to strict environmental and social standards, providing buyers with confidence in the sustainability of their purchases. As a result, businesses are more inclined to invest in and adopt soy-based chemical solutions, contributing to market expansion.

Market Trends

Expansion of Bioplastics and Bio-based Polymers

The North American soy-based chemicals market is witnessing a significant shift towards bioplastics and bio-based polymers. Derived from renewable resources like soybeans, these materials serve as sustainable alternatives to traditional petroleum-based plastics. For instance, Ford Motor Company has been a leader in this transition: since 2011, every North American-built Ford vehicle uses soy-based polyurethane foam in seat backs, seat cushions, and headrests. By 2017, Ford estimated that 18.5 million vehicles had incorporated soy-based foam, utilizing the equivalent of 578 billion soybeans as an alternative to petroleum-based foam. Beyond automotive, soy-based plastics are now used commercially in products such as mattresses, garden pots, ink, and carpet backing. The Biodegradable Products Institute (BPI) reports that there are now 10,000 BPI-certified biodegradable and compostable products on the market, including compostable bags, foodservice items, resins, and certified packaging materials—a figure that more than doubled over a three-year period. Companies like Cargill have invested heavily in this space, with a $100 million commitment in 2022 to research and development of new bio-based materials, including soy-based polymers. Airable Research Lab has also developed degradable soy-based ester polyols, soy epoxy hardeners, and soybean hull-reinforced polymers for applications ranging from automotive and aircraft coatings to adhesives and water bottles. These advancements are driven by the need to reduce carbon footprints, emissions, and reliance on petroleum-based ingredients, while meeting stringent environmental regulations and growing consumer demand for eco-friendly products.

Regionalization of Production and Supply Chains

There is a noticeable trend towards the regionalization of production and supply chains within the North American soy-based chemicals market. Companies are establishing localized manufacturing facilities to reduce transportation costs, mitigate supply chain disruptions, and enhance responsiveness to regional market demands. This strategy also supports the reduction of carbon emissions associated with long-distance transportation. By localizing production, companies can offer fresher products, improve supply chain resilience, and cater more effectively to the specific needs of regional markets.

Advancements in Soy-Based Surfactants

Soy-based surfactants are gaining traction in North America as sustainable alternatives to conventional petrochemical-based surfactants. These bio-based surfactants are utilized in a wide range of applications, including household cleaning products, personal care items, and industrial cleaners. In the United States, the total annual surfactant demand is just over 8.1 billion pounds, with household cleaning detergents accounting for about 3.5 billion pounds and personal care products using approximately 800 million pounds annually. The surfactant industry currently uses roughly equal amounts of biobased oleochemicals (including soybean oils) and synthetic petrochemicals as feedstocks. Companies such as Saraya, Akzo Nobel, Koch Industries (via Georgia Pacific), and ADM are prominent in this sector, with Koch Industries reporting annual revenues exceeding $115 billion and Akzo Nobel reporting about $10 billion in sales revenue. Saraya, while smaller, has experienced rapid growth due to consumer demand for sustainable products. The adoption of soy-based surfactants is driven by increasing consumer awareness of environmental issues and a preference for biodegradable ingredients. Manufacturers are optimizing performance and cost-effectiveness to meet this demand, with innovations in formulation and expanding applications across personal care, cleaning, and agriculture. The rise in sustainability awareness and regulatory support is steering the market toward long-term viability and profitability for soy-based surfactants.

Integration of Circular Economy Principles

The integration of circular economy principles is becoming a prominent trend in the North American soy-based chemicals market. Companies are focusing on reducing waste and maximizing the reuse of materials by utilizing soy-based waste streams for the production of value-added chemicals. This approach not only enhances the sustainability of the production process but also contributes to cost savings and resource efficiency. By adopting circular economy practices, manufacturers are aligning with global sustainability goals and responding to consumer demand for environmentally responsible products.

Market Challenges

Price Volatility of Soybeans and Raw Material Supply

A significant challenge facing the North American soy-based chemicals market is the inherent price volatility of soybeans, which directly impacts production costs. Factors such as adverse weather conditions, fluctuating global demand, and trade policies can lead to unpredictable price swings. For instance, recent shifts in U.S. trade policies have introduced uncertainties that may affect soybean exports, influencing domestic prices and availability. This volatility poses risks to manufacturers relying on consistent raw material costs, potentially affecting profitability and pricing strategies. For example, during the U.S.-China trade war in 2019, U.S. farmers experienced significant losses due to high soy stockpiles caused by weak export volumes, highlighting the impact of trade policies on soybean prices. Additionally, fluctuations in soybean prices can significantly influence the cost of production for soy-based chemicals, impacting market stability and profitability. Companies are exploring strategies to mitigate this risk, such as long-term contracts and hedging mechanisms.

Competition from Petroleum-Based Alternatives

Despite the growing demand for sustainable products, soy-based chemicals face stiff competition from established petroleum-based alternatives. These conventional chemicals often benefit from economies of scale, well-established supply chains, and lower production costs. Additionally, the infrastructure for producing and distributing petroleum-based chemicals is deeply entrenched, making it challenging for soy-based products to achieve widespread adoption without significant investment in infrastructure and consumer education. Overcoming this competition requires continuous innovation, cost reduction, and effective marketing strategies to highlight the environmental and functional benefits of soy-based chemicals.

Market Opportunities

Expansion into Bioplastics and Sustainable Packaging

The North American soy-based chemicals market presents a significant opportunity in the bioplastics and sustainable packaging sectors. Soy-derived materials, such as polyols and soy waxes, are increasingly being utilized to produce biodegradable plastics and eco-friendly packaging solutions. This shift is driven by growing environmental concerns and consumer demand for sustainable products. Companies are investing in research and development to enhance the performance and cost-effectiveness of soy-based plastics, aiming to replace petroleum-based plastics in various applications, including packaging, automotive components, and consumer goods. The adoption of soy-based bioplastics aligns with circular economy principles, promoting the use of renewable resources and reducing plastic waste. This trend is supported by favorable government policies and incentives aimed at reducing carbon emissions and promoting renewable materials. As the market for sustainable packaging continues to expand, soy-based chemicals are well-positioned to play a pivotal role in meeting the demand for environmentally friendly alternatives.

Integration of Circular Economy Practices

Another promising opportunity lies in the integration of circular economy practices within the soy-based chemicals industry. By utilizing soy-based waste streams for the production of value-added chemicals, companies can reduce waste and enhance resource efficiency. This approach not only contributes to environmental sustainability but also offers economic benefits by lowering production costs and creating new revenue streams. The adoption of circular economy principles is gaining momentum in North America, driven by both regulatory pressures and consumer preference for sustainable products. Manufacturers are exploring innovative ways to recycle and repurpose soy-based materials, such as using soy-based by-products in the production of biodiesel, bioplastics, and other chemicals. This trend is fostering collaboration across industries and creating new business models centered around sustainability and resource optimization. As companies continue to embrace circular economy practices, the soy-based chemicals market is poised for growth, offering opportunities for innovation and leadership in sustainable manufacturing.

Market Segmentation Analysis

By Type

The market can be divided into key product segments such as Soy Oil, Soy Wax, Soy-Based Polymers, Soy Fatty Acids, and Soy Methyl Esters. Among these, soy oil remains one of the dominant segments, primarily used in biodiesel production and as a raw material in industrial and food applications. Soy wax, a natural and biodegradable material, is increasingly being adopted in the production of candles, cosmetics, and food packaging due to its eco-friendly nature. Soy-based polymers are gaining popularity as a sustainable alternative to petrochemical-based plastics, offering applications in packaging, automotive, and construction industries. Soy fatty acids are used extensively in the manufacturing of soaps, detergents, and lubricants, while soy methyl esters are essential in biodiesel production, providing a renewable energy source.

By Application

In terms of application, the industrial sector leads the demand for soy-based chemicals, with applications spanning from adhesives and coatings to solvents. The cosmetics and personal care industry is also a significant consumer, utilizing soy derivatives for skincare products, soaps, and hair care items due to their natural, hypoallergenic properties. The food and beverages industry incorporates soy-based chemicals in emulsifiers, preservatives, and flavor enhancers. In the pharmaceuticals sector, soy-based chemicals are increasingly being used in drug formulation and controlled release systems due to their biodegradable and non-toxic nature. Additionally, soy chemicals find applications in agriculture, particularly in the production of biodegradable pesticides and fertilizers.

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

United States
Canada
Mexic

Regional Analysis

United States (84%)

The United States dominates the North American soy-based chemicals market, accounting for approximately 84% of the regional market value in 2024. This leadership is attributed to robust soybean production, advanced agricultural practices, and a well-established food industry. The country’s emphasis on sustainability and renewable resources has spurred the adoption of soy-based chemicals across various sectors, including biodiesel, bioplastics, and personal care products. Additionally, the presence of major industry players such as Archer Daniels Midland Company and Cargill Inc. further strengthens the U.S. market position.

Canada (9%)

Canada holds a significant share of the North American soy-based chemicals market, contributing to the region’s overall growth. The country’s market is driven by increasing demand for eco-friendly products and government initiatives promoting sustainable practices. Canadian manufacturers are actively innovating in the food and beverages segment, particularly in developing meat alternatives using soy-based ingredients. The growing emphasis on health and wellness among consumers is also propelling the demand for soy-based chemicals in the personal care and pharmaceutical industries.

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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 Analysis

The North American soy-based chemicals market is highly competitive, with key players such as Archer Daniels Midland Company, Cargill, and Dow Inc. dominating the landscape. These companies leverage their established supply chains and extensive research capabilities to maintain leadership positions. Archer Daniels Midland and Cargill are particularly strong due to their large-scale production facilities and diverse product portfolios, ranging from biodiesel to soy-based polymers. Renewable Lubricants, Inc. and BioBased Technologies LLC focus on sustainable chemical solutions, providing an eco-friendly alternative to traditional petrochemical-based products. Emerging players like Soy Technologies LLC and VertecBio™ are carving out niche segments, driving innovation with specialized soy-based products for the cosmetics and agricultural industries. This diverse competitive environment encourages continuous innovation and strategic partnerships to capture growth opportunities in the expanding market.

Recent Development

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 North American soy-based chemicals market exhibits moderate to high concentration, with a few dominant players such as Archer Daniels Midland Company, Cargill, and Dow Inc. controlling a significant share of the market. These companies benefit from large-scale production facilities, extensive supply chains, and robust research and development capabilities, which allow them to offer a broad range of soy-derived products across various industries, including biodiesel, bioplastics, and personal care products. However, the market is also characterized by a growing number of smaller players and startups, such as Renewable Lubricants, Inc. and Soy Technologies LLC, who focus on innovative, sustainable solutions targeting niche segments like cosmetics and agriculture. This blend of established and emerging players fosters competition, encouraging continuous innovation and the development of new, environmentally friendly soy-based chemicals.

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 demand for eco-friendly packaging is driving the adoption of soy-based materials in packaging applications, offering biodegradable alternatives to traditional plastics.

Soy-based biodiesel remains a key application, with increasing emphasis on renewable energy sources to reduce greenhouse gas emissions and dependence on fossil fuels.

Ongoing research and development efforts are enhancing the performance and cost-effectiveness of soy-based bioplastics, expanding their use in various industries.

The adoption of circular economy principles is promoting the recycling and repurposing of soy-based products, reducing waste and improving resource efficiency.

Government policies and subsidies are encouraging the production and use of bio-based chemicals, providing financial support to manufacturers and fostering market growth.

Consumers’ preference for natural and sustainable products is boosting the demand for soy-based chemicals in personal care and food applications.

Advancements in processing technologies are improving the yield and quality of soy-based chemicals, enhancing their competitiveness in the market.

Companies are exploring opportunities in emerging markets, leveraging the growing demand for sustainable products to expand their market presence.

Strategic alliances between industry players are facilitating the development of innovative soy-based products and expanding market reach.

The emphasis on sustainability is prompting industries to adopt soy-based chemicals as part of their strategies to reduce carbon emissions and environmental impact.

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. North America 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 North America 31

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

5.2. Export Analysis by North America 32

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

CHAPTER NO. 6 : DEMAND SUPPLY ANALYSIS 33

6.1. Demand Analysis by North America 33

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

6.2. Supply Analysis by North America 34

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

CHAPTER NO. 7 : PRODUCTION ANALYSIS 35

7.1. Production Analysis by North America 35

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

CHAPTER NO. 8 : PRICE ANALYSIS 36

8.1. Price Analysis by Type 36

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

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

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

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

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

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

11.4. North America 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

North America 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 – NORTH AMERICA ANALYSIS 76

16.1. Type 76

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

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

16.3. Application 77

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

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

16.4. End-Use Industry 78

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

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

16.5. U.S. 78

16.6. Canada 78

16.7. Mexico 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. North America Soy-Based Chemicals Market Revenue, 2018 – 2032 (USD Million) 23

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

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

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

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

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

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

FIG NO. 8. North America 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 North America 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. North America Soy-Based Chemicals Market for Soy Oil, Revenue (USD Million) 2018 – 2032 54

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

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

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

FIG NO. 27. North America 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. North America Soy-Based Chemicals Market for Industrial, Revenue (USD Million) 2018 – 2032 63

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

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

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

FIG NO. 36. North America 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. North America Soy-Based Chemicals Market for Automotive, Revenue (USD Million) 2018 – 2032 72

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

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

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

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

List of Tables

TABLE NO. 1. : North America 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. : North America Soy-Based Chemicals Market Revenue, By Type, 2018 – 2023 37

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

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

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

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

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

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

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

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Frequently Asked Questions

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

The North America Soy-Based Chemicals Market is projected to reach USD 10,170.63 million in 2024 and grow to an estimated USD 18,159.31 million by 2032, with a CAGR of 7.51% from 2025 to 2032.

What are the key drivers of growth in the North America Soy-Based Chemicals Market?

Key drivers include the increasing adoption of biofuels, especially biodiesel, and the expanding use of soy-based chemicals in food, beverages, personal care, and plastics.

What role do government incentives play in the North America Soy-Based Chemicals Market?

Government incentives support the development of sustainable bio-based products, fostering market growth by encouraging the adoption of renewable chemical alternatives.

How is technological innovation impacting the North America Soy-Based Chemicals Market?

Technological advancements are improving the efficiency and performance of soy-based products, enabling them to compete with traditional petroleum-based chemicals across various industries.

About Author

Shweta Bisht

Healthcare & Biotech Analyst

Shweta is a healthcare and biotech researcher with strong analytical skills in chemical and agri domains.

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