Global Soy-based Chemicals Market 2018-2022

Overview of the global soy-based chemicals market

According to Technavio’s market research and analysis, the rising demand for biofuels will be one of the major factors that will have a positive impact on the global soy-based chemicals market during the forecast period. Factors such as reduction of carbon emission and elimination of increased reliance on fossil fuels drive the demand for biofuels. Moreover, agriculture-based countries such as India, China, and Brazil have shown high demand for biofuels due to the presence of wide areas for feedstock production. The governments of different countries such as US and Germany offer increased support for the utilization of biofuels to lower the dependence on imported crude oil. Such factors will increase the consumption of biofuels such as soy-based biodiesel during the forecast period. Our market research analysts predict that this market will grow at a CAGR of close to 8% by 2022.

The rising need for natural waxes in candle industry is one of the key trends that will contribute to the market growth in the forthcoming years. The increasing environmental concerns and rising demand for bio-based products have driven the usage of soy-based chemicals in the natural wax industry. The rising popularity of soy-wax candles are mainly due to its advantages such as cleaner burning, increased durability, and good fragrance. This will lead to the growth of the soy-based chemicals market.  

Segmentation by application and analysis of the soy-based chemicals market

• Biodiesel
• Plastic and Polymers
• Personal Care and Cosmetics
• Food and Beverages
• Paper and Pulp

According to our industry analysis, the biodiesel segment accounted for the maximum share of the soy-based chemicals market during 2017. Our market research experts have estimated that this segment will continue to account for the major growth of this global during the forecast period as well.

Geographical segmentation and analysis of the soy-based chemicals market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to the soy-based chemicals market throughout the forecast period. The rising demand for biodiesel, personal care and cosmetics, food and beverages, and polymers and plastics will drive the market growth in the region.

Companies covered

The soy-based chemicals market is quite fragmented due to the presence of several players. This market research report provides information about the market’s competitive landscape. Moreover, the report also suggests strategies followed by vendors to improve their market shares and gain a competitive advantage over the other players.

Some of the companies covered in this report are -

• Ag Processing
• Archer Daniels Midland
• Bunge
• Cargill
• Stepan
• Soy Technologies

Key questions answered in the report include

• What will the market size and the growth rate be in 2022?
• What are the key factors driving the global soy-based chemicals market?
• What are the key market trends impacting the growth of the global soy-based chemicals market?
• What are the challenges to market growth?
• Who are the key vendors in the global soy-based chemicals market?
• What are the market opportunities and threats faced by the vendors in the global soy-based chemicals market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global soy-based chemicals market?

Technavio also offers customization on reports based on specific client requirement.