Methyl Soyate Market Summary
As per MRFR Analysis, the global methyl soyate market is driven by its applications as an industrial solvent and biodiesel, particularly in North America. The market is segmented by application, end-use industry, and region, with significant growth anticipated in the Asia Pacific region due to rising demand in paints & coatings, industrial cleaning, and cosmetics. Methyl soyate's low toxicity and reduced VOC emissions compared to conventional solvents further enhance its market appeal. Key players include BASF SE, Stepan Company, and Cargill, Incorporated, among others. The market is expected to expand as environmental regulations promote the use of bio-based solvents.
Key Market Trends & Highlights
The methyl soyate market is witnessing significant growth driven by environmental concerns and diverse applications.
- Asia Pacific is projected to experience exponential growth due to demand in paints & coatings and cleaning industries.
- North America is seeing increased market share due to regulations limiting VOC emissions.
- Methyl soyate is gaining popularity in the cosmetics & personal care sector, particularly in developing countries like India and China.
- The market is supported by the growing awareness of methyl soyate's benefits as a bio solvent.
Market Size & Forecast
Market Size: USD 1.5 Billion
Expected CAGR: 5.2% from 2023 to 2030
Largest Regional Market Share in 2024: North America
Major Players
BASF SE (Germany), Stepan Company (U.S.), Cargill, Incorporated (U.S.), Camco Chemical Co. Inc. (U.S.), Florida Chemical Company (U.S.), Vertec BioSolvents (U.S.), Unicon Fibro Chemicals Pvt. Ltd. (India)
crude oil
, generally from coastal and inland spill sites. Thus, the usage of methyl soyate in cystosol process is anticipated to increase the demand for Industrial cleaning sector. Methyl soyate is most commonly used as a biodiesel, specifically in North America. Growing awareness of the various benefits of methyl soyate as a bio solvent coupled with increase in environmental concern propel the market growth during the forecast period.
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Methyl Soyate Market- Segmentation
The global methyl soyate market is segmented on the basis of application, end use industry and region. Based on the application, market is segmented into de-greasers, paint stripper, hand cleaners, ink removal, and others. Based on end use industry, the market is categorized into paints & coatings, industrial & domestic cleaning, printing inks, cosmetics & personal care, and others. Based on region, this market is segmented into Asia Pacific, Europe, Latin America, North America, and Middle East & Africa.
Key Players The prominent players operating in the methyl soyate market include BASF SE (Germany), Stepan Company (U.S.), Cargill, Incorporated (U.S.), Camco Chemical Co. Inc. (U.S.), Florida Chemical Company (U.S.), Vertec BioSolvents (U.S.), Unicon Fibro Chemicals Pvt. Ltd. (India), and others. Â
Global Methyl Soyate Market Share by End Use Industry (2016), (%)
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Regional AnalysisÂ
On the basis of region, global methyl soyate market segmentation includes its current and estimated demand in Asia Pacific, Europe, Latin America, North America, and Middle East & Africa. Regionally, Asia Pacific is set to witness exponential growth within the forecast period due to growing demand from paints & coatings, industrial & domestic cleaning, and cosmetic & personal care. Methyl soyate possess low toxicity and emits low volatile organic compound (VOC) with respect to conventional chemical solvents, thus they are widely used in paints and coatings, and cleaning products. Tremendous growth is observed in methyl soyate market owing to its excellent application in end use industries. The Asia Pacific region growth is attributed to increasing popularity of methyl soyate in the cosmetics & personal care and industrial & domestic cleaning industry. Developing countries such as India and China are expected to witness high growth, due to rapid industrialization and high disposable income of people.
In developed regions such as U.S and Europe, the share of methyl soyate is expected to grow due to the establishment of State Implementation Plans (SIP) to limit the VOC content of various products including sealants & adhesives. Various government agencies such as Environmental Protection Agency (EPA) of North America implement various regulations to reduce volatile organic compound (VOCs) emission rate in atmosphere, thus increasing the growth of methyl soyate market in North America. Latin America is expected to witness moderate growth, owing to the sluggish performance of cosmetics and personal care industry in Argentina and Brazil.
Geographical Analysis The report covers brief analysis of geographical regions such as North America, Europe, Asia Pacific, Latin America and Middle East & Africa.   Â
Intended Audience
- Methyl Soyate manufacturers
- Traders and distributors of methyl soyate
- Production process industries
- Potential investors
- Raw material suppliers
- Nationalized laboratory
Attribute/Metric |
Details |
  Market Size |
  2030: Significant Value |
  CAGR |
  3.20% |
  Base Year |
  2021 |
  Forecast Period |
  2022 to 2030 |
  Historical Data |
  2019 & 2020 |
  Forecast Units |
  Value (USD Million) |
  Report Coverage |
  Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
  Segments Covered |
  Application and End-Use |
  Geographies Covered |
  North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
  Key Vendors |
  BASF SE (Germany), Stepan Company (U.S.), Cargill, Incorporated (U.S.), Camco Chemical Co. Inc. (U.S.), Florida Chemical Company (U.S.), Vertec BioSolvents (U.S.), Unicon Fibro Chemicals Pvt. Ltd. (India) |
  Key Market Opportunities |
  Growing awareness of the various benefits of methyl soyate as a bio solvent coupled with increase in environmental concern |
  Key Market Drivers |
  increase the demand for Industrial cleaning sector |
Methyl Soyate Market Highlights:
Frequently Asked Questions (FAQ) :
The forecast period for Methyl Soyate Market research report is 2020-2030
Global Methyl Soyate Market is dominated by APAC region.
The prominent players operating in the methyl soyate market include BASF SE (Germany), Stepan Company (U.S.), Cargill, Incorporated (U.S.), Camco Chemical Co. Inc. (U.S.), Florida Chemical Company (U.S.), Vertec BioSolvents (U.S.), Unicon Fibro Chemicals Pvt. Ltd. (India), and others.
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