Soy-Based Chemicals And Materials Market - Forecasts from 2018 to 2023
The Soy-based chemicals and materials market is projected to grow at a CAGR of 7.03% to reach US$29.896 billion by 2023, from US$19.887 billion in 2017. Soy-based chemicals and products are increasingly being utilized in many established commercial products such as bio plastics, biodiesels, cosmetics and etc. owing to the increasing establishment of biobased sources in the chemicals and materials industry. Advancing technology, growing environmental concern and steady shift from petrochemicals to biobased sources is driving the soy-based chemicals and materials market growth. Geographically, North America holds a significant share in the market owing to the increasing consumption of soy-based chemicals and materials in the region. According to United Soybean Board, in the last decade industrial, non-diesel use of soybean oil in the U.S increased by more than 50%.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study has been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the Soy-based chemicals value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the Soy-based chemicals and materials market.
Major industry players profiled as part of the report are Soy Technologies, LLC, Cargill, Incorporated, The Dow Chemical Company, Hexion Specialty Chemicals, Elevance Renewable Sciences, Inc., Urethane Soy Systems Co., and Archer Daniels Midland Company.
The Soy-based chemicals and materials market has been analyzed through following segments:
By Derived Product Type
Methyl Soyate Solvents
Oleochemicals and Surfactants
Paintings and Coatings
By End-User Industry
Oil and Gas
Middle East and Africa
Key insights offered
What will be the Soy-based chemicals and materials market size from 2018 to 2023?
How are the major drivers and restraints affecting the Soy-based chemicals and materials market growth and the opportunities which exist for key vendors?
Which segment and region will drive or lead the market growth and why?
A comprehensive analysis of competitive landscape and key market participants’ behaviour
Key strategies being adopted by vendors, with in-depth analysis along with their impact on competition and market growth.
Soy Technologies, LLC
The Dow Chemical Company
Hexion Specialty Chemicals
Elevance Renewable Sciences, Inc.
Urethane Soy Systems Co.
Archer Daniels Midland Company