“The Global Soy Chemicals Market poised to reach US$ XX Mn by 2025 with a significant CAGR over seven years forecast period 2019-2025” owing to the growing use of bio-based sources in various industries.
Precision Business Insights (PBI) in its report titled “Global Soy Chemicals Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period from 2019 to 2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
The global soy chemicals market was valued at US$ XX Mn in 2018 and projected to reach US$ XX Mn by 2025. The growing awareness about the harmful emissions from the use of fossil fuels has shifted to bio based products, which, in turn, is expected to drive the global soy-based chemicals market during the forecast period. Moreover soy based chemicals are price competitive with conventional products due to switching costs in value chain production steps. Soy based chemicals also struggle to grasp the competitive edge on the performance index over conventional crude oil derived products. These factors sometimes act as a restraint for the growth of soy chemicals market.
Global soy chemicals market segmented on the basis of product type, end user industry.
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Biodiesel Segment Accounted for Higher Revenue Share
Based on end user industry, the market is segmented into biodiesel, bio plastics, oleo chemicals, surfactants, paints & coatings, printing inks, polyol & thermoplastics, elastomers & rubbers, plasticizer. Biodiesel emerged as the largest end-use segment for soy chemicals market in 2013 and trend is expected to continue over the forecast period. Rising environmental concerns coupled with strong support from government to promote biodiesels usage in automotive is one of the key factor to drive the market in this segment. Plastic industry is anticipated to witness strong growth over the forecast period on account of increasing demand for renewable plastics and biopolymers. Manufacturing industries including paints & coatings, adhesives and foams have been shifting their towards soy chemicals on account of enhanced performance of soy chemicals over petrochemicals in addition to other benefits including cost and reduced environmental effects. Other industries including foods & beverages and cosmetics & toiletries are expected to witness significant growth over the next seven years on account of soy chemicals penetration in these industries.
North America Leads the Soy Chemicals Market
Precision Business Insights (PBI) global soy chemicals market report analyses the market in different regions of North America, Europe, Latin America, Asia Pacific, and Middle East Africa. According to regional analysis, Asia Pacific soy chemicals market has prominent share attributed due to initiative taken by the government of China to introduce bio-economy program as a part of 12th five year plan. Emergence of Malaysia and Indonesia as manufacturing hub for oleo chemicals on account of abundant raw material availability is expected to open lucrative opportunities for market for Soy Chemicals in the near future. North America Soy Chemicals market is expected to be valued at US$ XX Mn by 2025. Increasing awareness regarding the use of bio based lubricants and a subsequent boost in demand have been key factors propelling market growth in North America. Growing environmental hazards due to petroleum-based lubricants are also anticipated to propel product demand over the forecast period. Europe Soy Chemicals market is driven by implementation of phytosanitary norms aimed at implementing safety measures in food processing industries, which are expected to fuel Soy Chemicals market demand over the next seven years in this region
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Scintillating Market Strategy Play Vital Role in Soy Chemicals Market
Key players implement various strategies to establish their footprint in the global market, thereby enhancing their sale and outreaching the customers. For instance, September 14, 2018 – Cargill has reached an agreement to acquire Konspol, one of Poland’s leading value-added food companies, providing an array of products in the chilled convenience, frozen and cold cut categories.
Key player’s profiles in the report are Ag Environmental Products LLC, The Dow Chemical Company, Cargill, Incorporate, Archer Daniels Midland Company, Columbus Foods Co., Bunge Limited, Eco Safety Products, Elevance Renewable Sciences Inc., Vertec BioSolvents Inc
By Product Type
o Soybean Oil Derivatives
o Natural Extracts from Soybean
o Refined Industrial Soybean Oil
By End User Industry Type
o Bio plastics
o Oleo Chemicals
o Paints & Coatings
o Printing Inks
o Polyol & Thermoplastics
o Elastomers & Rubbers
o North America
Rest of Europe
Rest of Asia Pacific
o Latin America
Rest of Latin America
o Middle East and Africa
Gulf Corporation Council Counties (GCC)
Rest of MEA
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