Research Nester released a report titled “Soy-based Chemicals Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global soy-based chemicals market in terms of market segmentation by product type, application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Soy-chemicals are biologically derived chemicals and are an effective alternative to petroleum and other crude oil chemicals. These soy chemicals are used mainly in products such as soy milk and soybean oil, as well as in products such as food and beverages, cosmetics, biofuels and paper industry. The growth of the paper market is primarily due to the advent on chemicals based on soybean as an alternative to petroleum products. High fossil-fuel consumption results in increased carbon dioxide emissions. Soybean-based chemicals are therefore used to avoid these situations, and thus serve as a significant factor in market growth. The soy-based chemicals market is anticipated to record a significant CAGR over the forecast period, i.e., 2020-2028.
Based on region, the soy-based chemicals market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America is anticipated to hold the largest share on account of high demand for Soy-based chemicals owing to many industries present in the region.
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Surge In Demand For Renewable Chemicals And Fuel Sources To Boost The Growth For Soy Based Chemical Market
As per the statistics by the International Renewable Energy Agency, electricity capacity generated from bioenergy around the world increased from 65626MW in the year 2010 to 123806MW in the year 2019.
In populated countries with rising demand for fuel, there is tremendous potential for increasing energy supplies, derived from these soy-based chemicals. The main use of these liquid biofuels, a viable sustainable alternative to gasoline, is in the transport industry. The growing demand for renewable energy sources has led to a rise in biodiesel use, which primarily comes from raw materials such as soybeans, animal fats and recycled foods, this biodiesel emits lower levels of particles and carbon monoxide than conventional petroleum biodiesel.
This report also provides the existing competitive scenario of some of the key players of the global soy-based chemicals market which includes company profiling of Archer Daniels Midland Company (NYSE: ADM), Cargill Incorporated, Dupont de Nemours, Inc, Burcon NutraScience Corporation (TSE: BU), Nordic Soya Oy, Ag Processing Inc, Elevance Renewable Sciences, Inc., Soy Technologies, LLC, The Dow Chemical Company and Hexion Specialty Chemicals.
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global soy-based chemicals market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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