The production and consumption of fossil fuels have grown drastically, increasing carbon dioxide emissions. Soybean chemicals are a steady and positive alternative to conventional chemicals derived from crude oil or petroleum. Therefore, the demand for soy-based chemicals is projected to grow significantly over the next six years. The two most common derivatives of soybean are soy milk and soy oil. Soy milk is widely used in the food industry, and on the other hand, soy oil is widely used in the production of biodegradable plastics, biodiesel, and cosmetics.
Rising awareness about the benefits of bio-based products coupled with stringent environmental regulations is the major factor driving the market growth. Furthermore, the rising demand for biobased plastics is another factor contributing to market growth. However, a lack of raw material availability is projected to impediment the growth of the soy-based chemicals market.
North America is projected to be the most promising market for soy-based chemicals, followed by Europe. A rise in environmental concerns to reduce greenhouse gas emissions and stringent environmental regulations are likely to stimulate the market growth for soy-based chemicals in this region. However, the Asia Pacific and Latin America regions offer huge market potential. This is due to the rise in consumer awareness of eco-friendly products.
The global soy-based chemicals market is segmented on the following bases:
End-Use Application
Cosmetics
Food & Beverages
Paper
Bio-diesel
Others
By Type
Polyols
Soy-oil
Isoflavones
Others
By Geography
North America
U.S.
rest of North America
Europe
EU7
CIS
Rest of Europe
Asia-Pacific (APAC)
China
India
Rest of APAC
Latin America
Brazil
rest of Latin America
Middle East and Africa
Key players identified in the soy-based chemicals market include but are not limited to:
The Dow Chemical Company, Archer Daniels Midland Co., Cargill Inc., Elevance Renewable Sciences Inc., Renewable Lubricants Inc., Soyaworld Inc., and Vertec BioSolvents Inc.
This report offers the following:
An overview of the global soy-based chemicals market
Market trends assessment for the period 2016-2023, with historical information for 2013 and 2014 and projections through 2023, with respective CAGRs during 2016-2023 and 2015 as the base year
Qualitative assessment tools such as market drivers, challenges, and prospects, and competitive analysis: market positioning of key market players
Focus on each level of market segmentation based on product approvals, launches, and current and anticipated market dynamics.
A general overview of the industry structure
Company profiles highlight key information about the major players operating in the global soy-based chemicals market.
This report includes an estimation of the market size in terms of value. Both top-down and bottom-up approaches have been used to estimate and validate the size of the soy-based chemicals market.
Frequently Asked Questions:
The market for Soy-Based Chemicals Market is expected to reach XX Mn in 2023.
The Soy-Based Chemicals Market is expected to see significant CAGR growth over the coming years,at XX%
