psalexa

Soy-Based Chemicals Market by Type (Soy-Oil, Polyols, Fatty Acids, Soy-Wax, Isoflavones, Methyl Soyate), by Application (Food and Beverages, Plastic and Polymers, Biodiesel, Paper and Pulp, Cosmetics), by Geography (US, Canada, Mexico, UK, Germany, France, Italy, China, Japan, India, South Korea, Brazil, South Africa and Saudi Arabia) - Global Market Size, Share, Development, Growth and Demand Forecast, 2012-2022

  • Published: August 2016
  • Report Code: CM10676
  • Available Format: PDF
  • Pages: 71

Soy-Based Chemicals Market Overview

The global market for soy-based chemicals is projected to grow at a CAGR of 7.5% during the forecast period, and it is expected to reach a value of $19,362.8 million by 2022. This growth can be ascribed to increase in global concerns over environmental consequences, and shift in consumer preference towards eco-efficiency, thereby creating a for green chemicals.

GLOBAL SOY-BASED CHEMICALS MARKET, BY APPLICATION, $M (2012 - 2022)

SOY BASED CHEMICALS MARKET

Soy-based chemicals are substitutes to traditional chemicals that were derived from crude oil or petroleum oil. Soy milk are the most popular soybean derivatives. Soy milk has application in the food industry, whereas soy oil holds immense potential in the extraction of chemicals such as polyols, isoflavones, and waxes. Soy oil derivatives are then for manufacturing biodegradable soaps, biodiesel, plastics and other products. Other than usage in plastics and food & beverage industry, soy-based chemical products are also used in the cosmetics industry. The usage of bio-based chemicals has become vital owing to the rapid increase in pollution levels. Soy-based chemicals are an element of bio-fuels setup, and the market is likely to witness a fast-paced growth during the forecast period. Additionally, soybean chemicals serve as a substitute to crude oil or petroleum. Thus, with the rapid growth of global market for soy-based chemicals, the global carbon footprint is expected to decline.

Soy-Based Chemicals Market Dynamics

Soy-milk and Soy-oil are the mostly used soybean derivatives. They are used in the food and beverage sector at a large scale since soy bean derivatives have a high nutrient content. Soy-protein concentrate, isolates and flakes can be blended with synthetic plastics, such as polycaprolactone and poly lactic acid. This is done in order to extract chemicals including waxes, isoflavones, thermoset plastics, polyols, methyl soyate, plasticizers, elastomer, rubber compounds, and other oleochemicals which can be used to make molded products or edible films, including bio-degradable plastics, soaps and shopping bags.

Growth Drivers

Increasing demand of soybean from traditional usage in the food industry along with increasing usage of bio-based products are some of the major factors driving the growth of the global market for soy-based chemicals globally. Degradation of environment has led to an increase in environmental concerns fueled by issues such as ozone layer depletion, global warming, urban sprawl, acid rain, air pollution, waste disposal, water pollution, and climatic changes. With the rise in environmental concerns, the adoption of bio-based chemicals is likely to increase, in turn driving the global market for soy-based chemicals.

Additionally, there has been an increase in the market demand for bio-based and eco-friendly products, specifically the in consumer and specialty chemicals sectors across the globe. The market for soy-based chemicals holds immense opportunities in consumer and industrial sectors such as in fertilizers, insecticides, cosmetics, pesticides, greases & lubricants and other sectors. An increasing demand for environment friendly chemicals has been witnessed from industries such as consumer packaging, cosmetics (perfumes and deodorants), detergents, food ingredients. Additionally, the demand for environment friendly chemicals from end-user industries such as, cleaning chemicals, industrial polymers, eco-pesticides & eco-insecticides, plastics and pharma ingredients, biofertilizers, lubricants and greases are driving the growth of the market.

Opportunities

Increasing investment in emerging economics for developing renewable chemicals is one of the key opportunities for the soy-based chemicals market in the coming years. The industry is likely to face a problem of climatic changes and dwindling supply of low-cost energy sources in the coming years. Renewable sources have the potential to solve these problems. Bio based chemicals are cost competitive and represent opportunities for the replacement of petrochemicals with renewable resources. While industrial biotechnology provides a clear value proposition, and a number of obstacles need to be directed to fully achieve the commercial capacity of bio-based chemicals and products. The increasing investments in the renewable chemicals sector of emerging economies, is expected to serve as a major opportunity for the commercialization of bio-based chemicals and products.

Trends

An investment shift towards the APAC region is one of the latest trends witnessed in the soy-based chemicals market. A rapid increase in population along with quality human capital and efficient labor markets have attracted companies to invest in the region. Additionally, APAC has experienced structural changes in the types of investments it attracts.

The global soy-based chemicals market has been categorized on the basis of application and type. Based on type, the market has generated highest revenue from soy oil segment, while polyols, methyl soyate, fatty acids and isoflavones are some of the other major soy-based chemicals. By application, biodiesel sector has a major share in the global market in 2015.

Geographically, North America dominated the global soy-based chemicals market with the largest share, followed by Asia-Pacific in 2015. Developing nations in South America are also expected to witness a growth in the soy-based chemical market. Additionally, Asian countries including South Korea, Singapore and China have been heavily investing in the renewable chemical sector. Other promising markets include Western and Eastern Europe, Middle East and Africa.

Soy-Based Chemicals Market Competitive Landscape

Some of the leading players in the global market for soy-based chemicals are VertecBioSolvents Inc., Soyaworld Inc., Cara Plastics Inc., Soy Technologies LLC, The Dow Chemical Company, Elevance Renewable Sciences Inc., Archer Daniels Midland Co., Bunge Limited, BioBased Technologies LLC, and Cargill Inc.

Key Questions Answered:

  • What is the current and future scenario of the global soy-based chemicals market?
  • What are the major factors major driving the global soy-based chemicals market?
  • What are the upcoming opportunities for the players in the global soy-based chemicals market?
  • Which type is expected to dominate the global soy-based chemicals market during the forecast period?
  • Which region is expected to witness the fastest growth during the study period?
  • Who are the major players in the global soy-based chemicals market?
Place An Order
USD 4100 USD 4900 USD 6100
Customized Report Solution

Get a bespoke market intelligence solution

 
We are committed to ensuring the highest level of client satisfaction
Quality Acknowledgement
Quality Acknowledgement

Our dedication to providing the most-accurate market information has earned us verification by Dun & Bradstreet (D&B). We strive for quality checking of the highest level to enable data-driven decision making for you

Unmatched Standards
Unmatched Standards

Our insights into the minutest levels of the markets, including the latest trends and competitive landscape, give you all the answers you need to take your business to new heights

Reach Us
Reach Us Whenever You Need Us

With 24/7 research support, we ensure that the wheels of your business never stop turning. Don’t let time stand in your way. Get all your queries answered with a simple phone call or email, as and when required

Data Security
Complete Data Security

We take a cautious approach to protecting your personal and confidential information. Trust is the strongest bond that connects us and our clients, and trust we build by complying with all international and domestic data protection and privacy laws