The Global Soy-Based Chemicals Market is estimated to reach $22.8 Billion by 2024; growing at a CAGR of 7.9% from 2016 to 2024.Soy based chemicals are substitutes to conventional chemicals those derived from crude oil or petroleum. Soy oil holds immense ability in the derivation of chemicals such as waxes, polyols, and isoflavones. The application of soy based chemicals has become very noteworthy owing to increasing pollution level. The soy based chemicals market is a module of bio-fuels setup, and this market is projected to show aninstant growth throughout the forecast period.
Global Soy Based Chemicals Market Size and Forecast, 2015 – 2024 (US$ Billion)
The major factor to drive the global soy based chemicals market is rising awareness about the benefits of bio-based products along with strict environmental regulations. Also, growing demand for bio-degradable plastics derived from soy based chemicals have supported the market growth. While, shortage of raw material required is the major hindrance for the growth of the market. Furthermore, ongoing R&D for better product quality, and rising demand for extensive usage of soy based chemicals in food & beverage industry is expected to pose numerous growth opportunities for the market in the coming years.
The global soy based chemicals market is segmented on the basis of type, application, and geography. The segmentation by type includes soy-oil, polyols, fatty acids, soy-wax, isoflavones, methyl soyate, and other types. Whereas by application, the segmentation is comprised of food & beverages, plastic and polymers, biodiesel, pulp& paper, cosmetics, and other applications.
Global Soy Based Chemicals Market, by Type
Based on geography, global soy based chemicals market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consists of UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea,and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Soy Based Chemicals Market Regional Revenue % (2016 Vs 2024)
The major companies operating in the global soy based chemicals market include The Dow Chemical Company, Soy Technologies LLC, BioBased Technologies LLC,Archer Daniels Midland Company, VertecBioSolvents Inc., Elevance Renewable Sciences Inc., Cara Plastics Inc., Soyaworld Inc., Cargill Inc., and Bunge Ltd., among others.
The key takeaways from the report
- The report will provide detailed analysis of Soy Based Chemicals Market with respect to major segments such as type, and application
- The report will include the qualitative and quantitative analysis with market estimation over 2015 – 2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis ofSoy Based Chemicals Market has been included in the report
- Profile of the key players in the Soy Based Chemicals Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Soy-Based Chemicals Market
- Fatty Acids
- Methyl Soyate
- Other Types
- Food and Beverage
- Plastic and Polymers
- Paper and Pulp
- Other Applications
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Middle East
Global Soy Based Chemicals Market Primary Interviews, by Geography