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South Africa Soy-Based Chemicals Market

South Africa 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
South Africa Soy-Based Chemicals Market Size 2024	USD 118.53 million
South Africa Soy-Based Chemicals Market, CAGR	4.58%
South Africa Soy-Based Chemicals Market Size 2032	USD 169.63 million

Market Overview

The South Africa Soy-Based Chemicals Market is projected to grow from USD 118.53 million in 2024 to an estimated USD 169.63 million by 2032, with a compound annual growth rate (CAGR) of 4.58% from 2025 to 2032. This growth is driven by increasing demand for sustainable and bio-based alternatives to petroleum-based chemicals, as well as supportive government policies promoting renewable resources.

Key drivers of this market include the rising demand for eco-friendly products across various industries, such as cosmetics, food and beverages, and biofuels. Technological advancements and government incentives further enhance the adoption of soy-based chemicals.

Geographically, the Middle East & Africa region, encompassing South Africa, is witnessing growth in the soy-based chemicals market. Key players in this market include global companies like Cargill, Archer Daniels Midland Company, and Elevance Renewable Sciences, which are actively engaged in research and development to introduce sustainable and eco-friendly soy-based chemicals across various industries.

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Market Insights

The South Africa Soy-Based Chemicals Market is projected to grow from USD 118.53 million in 2024 to an estimated USD 169.63 million by 2032, with a compound annual growth rate (CAGR) of 4.58% 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.
Rising consumer preference for sustainable products, government policies promoting renewable resources, and advancements in processing technologies are key factors fueling market growth.
Challenges such as climate variability affecting soybean production and logistical inefficiencies in supply chains may hinder the full potential of the market.
Ongoing innovations in soy-based chemical production are improving efficiency and reducing costs, making these chemicals more competitive with traditional alternatives.
South Africa’s soy-based chemicals market is growing within the broader Middle East & Africa region, with increasing demand across industries like food, cosmetics, and biofuels.
Soy-based chemicals are widely used in biodiesel production, bioplastics, cosmetics, and pharmaceuticals, catering to a broad spectrum of industries focusing on sustainability.
Global leaders like Cargill and Archer Daniels Midland Company, along with regional players, are driving innovation and expanding the market for soy-based chemicals.

Market Drivers

Rising Demand for Sustainable Alternatives

The global shift towards sustainability is significantly influencing the South African market for soy-based chemicals. Industries and consumers increasingly prioritize eco-friendly products, and soy-based chemicals provide renewable and biodegradable alternatives to traditional petroleum-based chemicals. This transition is driven by heightened environmental awareness and the need to reduce carbon footprints. In South Africa, sectors such as biodiesel production, bioplastics, and cosmetics are adopting soy-based chemicals to align with global sustainability trends and meet local regulatory standards. For instance, Sasol and the state-owned Central Energy Fund have partnered with Siyanda Biodiesel, a black-owned company led predominantly by women, to develop a soybean biodiesel plant with a capacity of 100,000 tons per year, highlighting the growing industrial use of soy-based chemicals for renewable energy. Additionally, companies like BASF have introduced bio-based surfactants derived from soy protein, formulated from non-GMO soy and coconut oil, which meet vegan and natural cosmetic standards, reflecting the rising consumer demand for natural and sustainable products. The South African government’s support for renewable energy initiatives, including tax incentives for biodiesel production, further bolsters this shift, creating a conducive environment for the growth of soy-based chemical applications.

Government Regulations and Incentives

South African government policies increasingly favor the adoption of renewable and bio-based chemicals. Regulations aimed at reducing greenhouse gas emissions and promoting sustainable practices encourage industries to explore alternatives to conventional petrochemicals. For instance, the government has provided tax incentives such as accelerated depreciation and a reduction in the general fuel levy to support local biodiesel production, making soy-based chemicals more economically viable. These policies not only support environmental goals but also stimulate economic growth by fostering innovation and attracting investments in the bio-based chemicals sector. The potential introduction of laws mandating biodiesel blending further signals regulatory commitment to renewable fuels. Moreover, the expansion of domestic soybean crushing capacity, driven by investments from companies like COFCO, Wilmar SA, and Nedan Oil, supports the local supply chain for soy-based chemicals, aligning with government import replacement strategies and reinforcing the bio-based chemicals market.

Technological Advancements in Soy Processing

Advancements in biotechnology and chemical engineering are enhancing the efficiency and cost-effectiveness of soy-based chemical production. Innovations in extraction and processing technologies are enabling the development of high-performance soy-based chemicals that can compete with traditional petrochemicals. In South Africa, research and development initiatives are focusing on improving the yield and quality of soy derivatives, expanding their applicability across various industries. These technological improvements are pivotal in increasing the adoption of soy-based chemicals, driving market growth.

Consumer Preference for Health-Conscious Products

There is a growing consumer preference in South Africa for products that are perceived as healthier and more natural. Soy-based chemicals, particularly in the food and beverage, cosmetics, and personal care industries, are gaining popularity due to their plant-based origins and nutritional benefits. Consumers are increasingly aware of the potential health risks associated with synthetic chemicals, leading to a shift towards products containing natural ingredients. This trend is driving demand for soy-based alternatives, contributing to the expansion of the market.

Market Trends

Advancements in Cosmetic and Personal Care Products

The cosmetic and personal care industry in South Africa is embracing soy-based ingredients, such as soy isoflavones and lecithin, for their moisturizing and anti-aging properties. These natural compounds are increasingly incorporated into skincare and haircare products, catering to the rising consumer preference for plant-based and cruelty-free formulations. This trend aligns with global movements towards clean beauty and sustainable sourcing, positioning soy-based chemicals as valuable components in the evolving personal care market.

Technological Innovations in Soy Processing

Advancements in processing technologies are enhancing the efficiency and cost-effectiveness of producing soy-based chemicals in South Africa. Innovations such as enzyme-assisted extraction and fermentation processes are improving yields and reducing production costs. These technological developments enable the production of high-quality soy-based chemicals, expanding their applicability across various industries, including food, pharmaceuticals, and industrial applications. The continuous evolution in processing techniques is fostering a competitive edge for South African manufacturers in the global soy-based chemicals market.

Expansion in Biodiesel Production

South Africa is witnessing a significant shift towards renewable energy sources, with biodiesel emerging as a key component in this transition. Soy-based biodiesel, derived from methyl soyate, is gaining traction due to its renewable nature and lower carbon emissions compared to traditional fossil fuels. For instance, Siyanda Biodiesel, in partnership with Sasol and the Central Energy Fund, has proposed a 100,000-ton-per-year soybean biodiesel plant that would require an annual input of 600,000 tons of soybeans. Another major project, a Coega-based plant in the Eastern Cape, was planned with an initial investment of R1.5 billion to produce an estimated 288 million litres of biodiesel per annum, creating about 350 new direct jobs and 725 indirect jobs. These projects are supported by government incentives, such as accelerated depreciation and a 40% reduction in the general fuel levy for local biodiesel production. The adoption of soy-based biodiesel aligns with global sustainability goals and positions South Africa as a growing player in the biofuel sector. Additionally, decentralized initiatives like the ‘Women in Biodiesel’ project utilize used cooking oil to produce a minimum combined volume of 3 million litres of biodiesel per year, further expanding local renewable energy access and job creation.

Growth in Bioplastics and Packaging

The global shift towards sustainable packaging solutions is influencing the South African market, with soy-based bioplastics gaining popularity as eco-friendly alternatives to conventional plastics. These bioplastics, derived from soy proteins and oils, offer biodegradability and reduced environmental impact. For instance, soy protein-based bioplastics have been processed through techniques such as casting, compression, and injection molding, resulting in materials with adequate mechanical properties suitable for food and beverage packaging, though they typically exhibit low water resistance. Internationally, companies like Nordic Soya and its partners have piloted industrial-scale production of compostable bioplastics from soy residues, demonstrating the potential to produce up to 22 million tonnes of bioplastic per year globally from soy processing byproducts. In South Africa, the adoption of soy-based materials in packaging reflects a broader commitment to reducing plastic waste and promoting circular economy practices, with ongoing research and development aimed at improving the mechanical properties and biodegradability of these materials.

Market Challenges

Climate Variability and Agricultural Vulnerabilities

South Africa’s soybean production is highly vulnerable to climatic fluctuations, particularly droughts and irregular rainfall patterns. The 2023/24 season notably witnessed a significant decline in soybean production due to adverse weather conditions linked to El Niño, which severely impacted yields during the critical reproductive growth period of the crop. This reduction in production directly affects the volume of soybeans available for processing, leading to increased prices and consequently impacting the cost-effectiveness of soy-based chemical production. For instance, the soybean crushing sector in South Africa is dominated by a few major players, such as Nedan Oil Mills and Majesty Oil Mills, which together process the vast majority of soybeans destined for human consumption. These companies have benefited from government-supported import substitution strategies and investments in processing infrastructure, which have expanded crushing capacity significantly over the past decade. However, logistical challenges, including high transportation costs from production regions in the northeast to coastal ports and inefficiencies at major ports like Durban and Cape Town, continue to constrain the sector’s productivity and growth potential. Furthermore, the introduction of a breeding and technology levy has facilitated access to advanced seed technologies, including drought-tolerant cultivars, which are crucial for enhancing resilience against climatic stresses. Despite these advancements, the agricultural vulnerabilities posed by erratic weather patterns remain a major challenge to the stability and expansion of the soy-based chemicals market in South Africa, affecting both supply and pricing dynamics in this sector.

Infrastructure and Logistical Constraints

The efficiency of South Africa’s soybean value chain is hindered by inadequate infrastructure and logistical challenges. Inconsistent regional infrastructure and limited connectivity restrict market access for many producers, exacerbating regional price disparities and reducing market efficiency. These structural issues impede the timely delivery of soybeans to processing facilities and the distribution of soy-based chemical products to end markets. Addressing these logistical bottlenecks is crucial for enhancing the competitiveness and sustainability of the soy-based chemicals sector in South Africa.

Market Opportunities

Expansion into Human Food Products

South Africa’s soybean industry has significant untapped potential in the human food sector. Currently, the majority of soybeans are processed for animal feed, with only a small portion directed towards human consumption. However, there is a growing demand for plant-based protein alternatives, such as soy milk, tofu, and soy-based snacks, both domestically and across the African continent. The University of the Free State’s Food Innovation Laboratory has developed affordable, high-protein soy-based dairy alternatives, highlighting the feasibility of expanding into this market segment. By investing in processing infrastructure and focusing on non-GMO products, South African producers can capture a larger share of the human food market, thereby enhancing profitability and market competitiveness.

Growth in Export Markets

South Africa’s soybean industry is well-positioned to capitalize on export opportunities, particularly in the African market. Countries like Zimbabwe have shown a rapid increase in demand for textured vegetable protein (TVP), a soy-based product, indicating a broader regional trend towards plant-based protein sources. By enhancing product quality and ensuring consistent supply, South African producers can meet international standards and tap into these emerging markets. This expansion not only offers economic benefits but also postions South Africa as a key player in the regional soy-based product trade.

Market Segmentation Analysis

By Type

The South African soy-based chemicals market encompasses several key product types, including soy oil, soy wax, soy-based polymers, soy fatty acids, and soy methyl esters. Soy oil serves as a foundational component in various applications, notably in biodiesel production and as a base for numerous industrial products. Soy wax is increasingly favored in the candle-making industry due to its biodegradable nature and cleaner burning properties. Soy-based polymers are gaining traction as sustainable alternatives in the plastics industry, offering reduced environmental impact. Soy fatty acids find applications in the production of soaps, detergents, and cosmetics, while soy methyl esters are utilized as solvents and in biodiesel formulations, contributing to the diversification of renewable energy sources.

By Application

The application spectrum of soy-based chemicals in South Africa is broad, encompassing industrial, cosmetics & personal care, food & beverages, pharmaceuticals, and agriculture sectors. In industrial applications, soy-based chemicals are employed in the manufacturing of lubricants, adhesives, and coatings, providing eco-friendly alternatives to petrochemical counterparts. The cosmetics and personal care industry leverages soy derivatives for their emollient and moisturizing properties, aligning with the growing consumer demand for natural ingredients. In the food and beverage sector, soy-based ingredients are used as emulsifiers and nutritional additives, enhancing product quality and health benefits. Pharmaceutical applications include the use of soy compounds in drug formulations and delivery systems, while in agriculture, soy-based products serve as bio-pesticides and soil conditioners, promoting 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

Mpumalanga
KwaZulu-Natal
Free State
North West
Gauteng
Limpopo

Regional Analysis

Mpumalanga (43%)

Mpumalanga stands as the leading province in soybean production, contributing approximately 43% of the national output. The region’s favorable climate and well-established agricultural practices support high yields, making it a central hub for soybean cultivation. This abundance of raw material fosters the growth of soy-based chemical industries, particularly those focused on biodiesel and industrial applications.

KwaZulu-Natal (21%)

KwaZulu-Natal accounts for about 21% of South Africa’s soybean production. The province’s proximity to major ports facilitates export opportunities, while its developed infrastructure supports the processing of soybeans into various chemical derivatives. Industries in this region often focus on producing soy-based products for both domestic use and international markets.

Free State (12%)

Contributing around 12% to the national soybean output, the Free State province has shown significant growth in soybean cultivation. The region’s expansive agricultural land and increasing investment in farming technologies enhance its capacity to support soy-based chemical production, especially in sectors like agriculture and construction.

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Key players

Olam International
AAK AB
Cevital Group
Wilmar International Africa Ltd.
Al Ghurair Foods
Supreme Oil Company
Golden Oil Industries Ltd.
Savola Group
Radebe Oils
Etihad Food Industries

Competitive Analysis

The South Africa soy-based chemicals market is highly competitive, with several well-established players driving growth through innovative products and strategic business practices. Olam International and AAK AB dominate the market due to their extensive global reach, diverse product portfolios, and robust R&D capabilities. Companies like Wilmar International and Savola Group leverage strong regional networks, while Cevital Group focuses on sustainability and eco-friendly products. Al Ghurair Foods and Supreme Oil Company have a competitive edge in the food and beverage industry, offering soy-based products to cater to growing demand for plant-based solutions. Radebe Oils and Golden Oil Industries Ltd. emphasize product differentiation through quality and local sourcing, positioning themselves as key players in the African market. Etihad Food Industries’ strategic partnerships within the region also bolster its competitive stance. These players are expected to continue shaping the market through technological innovations and expansion efforts.

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 South Africa Soy-Based Chemicals Market exhibits moderate concentration, with a mix of global players and regional manufacturers. Key international companies like Olam International, AAK AB, and Wilmar International have a significant presence due to their broad product portfolios, advanced technology, and strong supply chains. However, regional players such as Radebe Oils and Supreme Oil Company contribute to market diversity by focusing on localized production and catering to the unique demands of the African market. The market is characterized by increasing competition driven by innovation in sustainable and bio-based products, as well as growing demand across industries such as biodiesel, food, cosmetics, and agriculture. While large multinational companies dominate the high-end product segments, smaller, regional players are also carving out niches by emphasizing cost-effectiveness, local sourcing, and eco-friendly 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 market is expected to see increased adoption of soy-based chemicals in sustainable applications, such as biodegradable plastics and eco-friendly surfactants.

Ongoing innovations in soy processing technologies are anticipated to enhance product yields and reduce production costs, making soy-based chemicals more competitive.

Government initiatives promoting renewable energy sources and sustainable products are likely to bolster the demand for soy-based chemicals in various industries.

The bioplastics sector is projected to experience significant growth, driven by the increasing demand for environmentally friendly packaging solutions.

Consumers’ growing preference for natural and plant-based products is expected to fuel the demand for soy-based chemicals in personal care and food products.

Research and development efforts are likely to lead to the introduction of new soy-based chemicals with enhanced functionalities, catering to diverse industrial needs.

The integration of soy-based chemicals into agricultural practices, such as bio-based pesticides and fertilizers, is anticipated to support sustainable farming initiatives.

Efforts to strengthen local supply chains for soybeans and soy-based chemicals are expected to improve market resilience and reduce dependency on imports.

Collaborations with international markets are likely to open new avenues for the export of soy-based chemicals, expanding South Africa’s global market presence.

Emphasis on circular economy models, including recycling and reusing soy-based products, is expected to drive sustainable practices within the industry.

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. South Africa 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 South Africa 31

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

5.2. Export Analysis by South Africa 32

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

CHAPTER NO. 6 : DEMAND SUPPLY ANALYSIS 33

6.1. Demand Analysis by South Africa 33

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

6.2. Supply Analysis by South Africa 34

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

CHAPTER NO. 7 : PRODUCTION ANALYSIS 35

7.1. Production Analysis by South Africa 35

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

CHAPTER NO. 8 : PRICE ANALYSIS 36

8.1. Price Analysis by Type 36

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

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

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

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

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

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

11.4. South Africa 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

South Africa 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 – SOUTH AFRICA ANALYSIS 76

16.1. Type 76

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

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

16.3. Application 77

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

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

16.4. End-Use Industry 78

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

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

CHAPTER NO. 17 : COMPANY PROFILES 79

17.1. Olam International 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. AAK AB 81

17.3. Cevital Group 81

17.4. Wilmar International Africa Ltd. 81

17.5. Al Ghurair Foods 81

17.6. Supreme Oil Company 81

17.7. Golden Oil Industries Ltd. 81

17.8. Savola Group 81

17.9. Radebe Oils 81

17.10. Etihad Food Industries 81

List of Figures

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

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

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

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

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

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

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

FIG NO. 8. South Africa 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 South Africa 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. South Africa Soy-Based Chemicals Market for Soy Oil, Revenue (USD Million) 2018 – 2032 53

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

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

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

FIG NO. 27. South Africa 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. South Africa Soy-Based Chemicals Market for Industrial, Revenue (USD Million) 2018 – 2032 62

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

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

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

FIG NO. 36. South Africa 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. South Africa Soy-Based Chemicals Market for Automotive, Revenue (USD Million) 2018 – 2032 71

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

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

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

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

List of Tables

TABLE NO. 1. : South Africa 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. : South Africa Soy-Based Chemicals Market Revenue, By Type, 2018 – 2023 36

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

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

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

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

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

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

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

Frequently Asked Questions

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

The South Africa Soy-Based Chemicals Market is projected to be valued at USD 118.53 million in 2024 and grow to USD 169.63 million by 2032, with a CAGR of 4.58% from 2025 to 2032.

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

Key drivers include the increasing demand for sustainable and bio-based alternatives to petroleum-based chemicals, as well as supportive government policies promoting renewable resources.

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

Key players include global companies like Cargill, Archer Daniels Midland Company, and Elevance Renewable Sciences, which are leading research and development efforts in soy-based chemicals.

What are the regional growth prospects for the South Africa Soy-Based Chemicals Market?

The South Africa Soy-Based Chemicals Market is seeing growth in the Middle East & Africa region, supported by regional adoption of eco-friendly and renewable chemical solutions.

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