Microcellular Plastics Market

Growing Popularity of Bio-Based Products Fueling Sales of Soy-Based Chemicals

Soy-Based Chemicals Market

Soy-Based Chemicals Market:-The rising requirement for soybean for traditional use in the food industry and the growing utilization of bio-based products are the main factors fueling the demand for soy-based chemicals across the globe. Moreover, rapid environmental degradation, increasing air and water pollution levels, global warming, the problem of waste disposal, and the rising incidence of acid rain are boosting the popularity of bio-based chemicals, which is, in turn, propelling the requirement for soy-based chemicals around the world.

Additionally, the rising requirement for environment-friendly and bio-based products, especially in the specialty chemicals and consumer sectors all over the world, is pushing up the sales of soy-based chemicals across the globe. The usage of soy-based chemicals is increasing rapidly, especially insecticides, pesticides, fertilizers, cosmetics, and greases & lubricants. Moreover, the burgeoning requirement for eco-friendly chemicals in end-use industries such as industrial polymers, plastics and pharma ingredients, and cleaning chemicals is further propelling the sales of soy-based chemicals.

Due to the aforementioned factors, the global soy-based chemicals market is exhibiting rapid expansion. Soy-based chemicals are basically substitutes to the conventionally used chemicals that are derived from petroleum oil or crude oil. Soy milk is one of the most widely used soybean derivatives. It is extensively used in the food industry. On the other hand, soy oil is heavily used for extracting chemicals such as waxes, isoflavones, and polyols.

Soy oil Uses (Soy-Based Chemicals Market)

Soy oil derivatives are then used for producing biodegradable soaps, plastics, biodiesel, and various other products. Apart from being heavily used in the food and beverage and plastics industries, soy-based chemicals are also required in huge amounts in the cosmetics industry. Soy-oil, fatty acids, soy-wax, polyols, isoflavones, and methyl soyate are the main types of soy-based chemicals used across the world. Out of these, the usage of soy-oil was found to be the highest during the last few years.

Food and beverages, cosmetics, paper and pulp, plastic and polymers, and biodiesel are the major application areas of soy-based chemicals. Out of these, the utilization of soy-based chemicals was found to be the highest in biodiesel applications in the past years. Globally, the sales of soy-based chemicals were the highest in North America in the past, as per the findings of P&S Intelligence, a market research company based in India.

 

Alternative of Soy-Based Chemicals

Soy-based chemicals are an alternative to traditional chemicals, which are derived from petroleum oil or crude oil. Soy milk and soy oil are the most-popular soybean derivates, being increasingly used in the food and beverage industry owing to their high nutrient content. Similarly, the cosmetics industry uses soy-based chemicals in the production of biodegradable soaps, deodorants, and perfumes. Thus, the increasing demand for high-nutrient-content food products and biodegradable cosmetics will fuel the consumption of soy-based chemicals worldwide.

Moreover, the surging need for biofuels, owing to the rising air pollution levels and depleting fossil fuel reserves, will augment the production of soy-based chemicals in the upcoming years. Furthermore, the WHO states that the transportation sector and power sector should shift to clean modes of power generation, such as low-emission fuels, to mitigate air pollution levels.

The rising need for biofertilizers

Furthermore, the rising need for biofertilizers, eco-pesticides, and eco-insecticides, primarily on account of the degrading soil quality and depleting nutrient content in the earth’s crust, is projected to create a huge requirement for soy-based chemicals. The World Wide Fund for Nature (WWF) propounds that half the topsoil of the Earth has been lost in the last 150 years and the soil quality has been compromised due to over-intensive agricultural practices. This has resulted in soil salinity, loss of soil structure, compaction, and nutrient degradation, which can be dealt with with biofertilizers and biopesticides.

The Demands of the companies (food and beverage, cosmetics, plastics, and agriculture sectors for soy-based chemicals) are being met by:-

VertecBioSolvents Inc.,

Elevance Renewable Sciences Inc.,

Cargill Inc., Soyaworld Inc.,

Archer Daniels Midland Co.,

Cara Plastics Inc., Bunge Limited,

The Dow Chemical Company, and BioBased Technologies LLC. At present, these companies are heavily investing in developing countries to produce renewable chemicals as they hold a huge potential for the commercialization of these bio-based products.

As per P&S Intelligence

As per P&S Intelligence, North America held the soy-based chemicals market share in the preceding years.

In the coming years, Asia-Pacific (APAC) is about to consume a considerable volume of such products.

due to the mounting investments, in the renewable chemical sector of China, Singapore, and South Korea.

Furthermore, the Middle East and African (MEA) and European regions are about to create a huge requirement for such chemicals in the foreseeable future.

Therefore, the booming demand for bio-based fuels, nutrient-rich food products, biodegradable plastics, eco-fertilizers and eco pesticides, and bio-based cosmetics will propel the consumption of soy-based chemicals.

Hence, it is quite clear that the demand for soy-based chemicals will explode all over the world in the upcoming years, mainly because of their growing requirement in the food and beverages industry and the rising popularity of bio-based products around the world.

Table of content
Chapter 1. Research Scope & Methodology

1.1 Market Definition

1.2 Research Scope

1.2.1 Global soy-based chemicals market breakdown by type

1.2.2 Global soy-based chemicals market breakdown by application

1.2.3 Global soy-based chemicals market breakdown by geography

1.3 Research Methodology and Sources

Chapter 2. Executive Summary

2.1 Key Findings

2.2 Research Summary

Chapter 3. Market Outlook

3.1 Introduction

3.2 Trends in the Global Soy-Based Chemicals Market

3.2.1 Investment shift towards Asia-Pacific region

3.3 Opportunities in the Soy-based Chemicals Market

3.3.1 Increasing investment in developing renewable chemicals in the emerging economies

3.4 Factors Driving Growth of the Market and its Impact on Market Forecast

3.4.1 Increasing environmental concerns

3.4.2 Increasing use of bio based products

3.4.3 Impact analysis of drivers on market forecast

3.5 Factors Hindering Growth of the Market and its Impact on Market Forecast

3.5.1 Gap in demand and supply

3.5.2 Impact analysis of restraints on market forecast

Chapter 4. Global Soy-Based Chemicals Size and Forecast (2012 – 2022)  

4.1 Global Soy-Based Chemicals Market, by Type

4.1.1 Soy-oil

4.1.2 Polyols

4.1.3 Fatty acids

4.1.4 Soy-wax

4.1.5 Isoflavones

4.1.6 Methyl soyate

4.1.7 Others

4.2 Global Soy-Based Chemicals Market, by Application

4.2.1 Food & beverages

4.2.2 Plastic & polymers

4.2.3 Biodiesel

4.2.4 Paper & pulp

4.2.5 Cosmetics

4.2.6 Others

4.3 Global Soy-Based Chemicals Market, by Region

Chapter 5. Global Soy-Based Chemicals, by Geography

5.1 North America Soy-Based Chemicals

5.1.1 North America soy-based chemicals, by country

5.1.2 North America soy-based chemicals, by type

5.1.3 North America soy-based chemicals, by application

5.2 Europe Soy-Based Chemicals

5.2.1 Europe soy-based chemicals, by country

5.2.2 Europe soy-based chemicals, by type

5.2.3 Europe soy-based chemicals, by application

5.3 Asia-Pacific Soy-Based Chemicals

5.3.1 Asia-Pacific soy-based chemicals, by country

5.3.2 Asia-Pacific soy-based chemicals, by type

5.3.3 Asia-Pacific soy-based chemicals, by application

5.4 South America Soy-Based Chemicals

5.4.1 South America soy-based chemicals, by country

5.4.2 South America soy-based chemicals, by type

5.4.3 South America soy-based chemicals, by application

5.5 Middle East and Africa (MEA) Soy-Based Chemicals Market

5.5.1 MEA soy-based chemicals , by country

5.5.2 MEA soy-based chemicals, by type

5.5.3 MEA soy-based chemicals, by application

Chapter 6. Competitive Positioning Analysis

6.1 Porter’s Five Forces of Competitive Position Analysis

6.1.1 Bargaining power of buyers

6.1.2 Bargaining power of suppliers

6.1.3 Threat of new entrants

6.1.4 Intensity of rivalry

6.1.5 Threat of substitutes

6.2 Competitive Positioning of Global Soy-based Chemicals Market, by Application

Chapter 7. Company Profiles and Strategic Developments

7.1 Key Company Profiles

7.1.1 The Dow Chemical Company

7.1.1.1 Business overview

7.1.1.2 Product and service offerings

7.1.2 Archer Daniels Midland Co.

7.1.2.1 Business overview

7.1.2.2 Product and service offerings

7.1.3 Soy Technologies, LLC

7.1.3.1 Business overview

7.1.3.2 Product and service offerings

7.1.4 BioBased Technologies LLC

7.1.4.1 Business overview

7.1.4.2 Product and service offerings

7.1.5 Bunge Limited

7.1.5.1 Business overview

7.1.5.2 Product and service offerings

7.1.6 Vertec BioSolvents, Inc.

7.1.6.1 Business overview

7.1.6.2 Product and service offerings

7.1.7 Elevance Renewable Sciences, Inc.

7.1.7.1 Business overview

7.1.7.2 Product and service offerings

7.1.8 Earth’s Own Food Company Inc.

7.1.8.1 Business overview

7.1.8.2 Product and service offerings

7.1.9 Cargill Inc.

7.1.9.1 Business overview

7.1.9.2 Product and service offerings

7.2 Strategic Developments in the Global Soy-Based Chemicals

Chapter 8. Appendix

8.1 List of Abbreviations

 

 

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