Soy-Based Chemicals Market Research Report - Global Forecast till 2030

Soy-Based Chemicals Market: Information by Type (Soy Oil, Fatty Acid, Polyols, Soy Waxes, Methyl Soyate, Isoflavones and others), Application (Paper, Food & Beverages, Cosmetic and Personal Care, Plastic and Polymers, Biofuel and others) and Region - Forecast till 2030

ID: MRFR/CnM/0499-HCR | February 2021 | Region: Global | 140 pages

Soy Based Chemicals Market Overview


According to MRFR analysis, the global soy-based chemicals market was valued at USD 23 billion in 2017 and is estimated to register a robust CAGR of 6.3% during the forecast period.

High consumption of fossil fuels has resulted in increased carbon dioxide emissions. Thus, under these circumstances, there is a growing need to harness the potential of bio-based chemicals.
Soy-based chemicals are considered as an effective substitute for petroleum and other crude-derived chemicals. Soy is largely cultivated in the US, India, China, Brazil, and Argentina countries. Apart from its use in food and beverages in soymilk and soy oil, soy-based chemicals have widespread applications in cosmetics, paper, and biofuel.


The growing use of bio-based sources in various industries on account of stringent government regulations is expected to be the major driver in this market. Also, rising consumer awareness regarding the harmful emissions from fossil fuels has led to an increase in consumers shift from fossil-based fuels to soy oils, which further boosts the market growth. Furthermore, easy production of soybean and increasing government investments for the production of soy-based chemicals is likely to create lucrative opportunities for the market players. Growing R&D investments in product development and better growth of soybeans are likely to offer immense opportunities to the manufacturers of soy-based chemicals. In addition, unique chemical structure with better performance characteristics can lead to competitive advantages from proprietary products. Moreover, surging demand for soy-based candles is one of the major trends to contribute to the growth of the global soy-based chemicals market.


However, threats from favorable substitutes such as natural biogas, are likely to be a restraining factory in the global soy-based chemicals market. Also, growing soybean allergies occurring from the consumption of various products such as soymilk, tofu, among others may hamper the market growth in the coming years. 


Key Players


Some of the key players operating in the global soy-based chemicals market are Dow (US), Archer Daniels Midland Company (US), BioBased Technologies LLC (US), Bunge Limited (US), Ag Processing Inc. (US), Cargill Inc. (US), LANXESS (Germany), Vertec BioSolvents (US), Eco Safety Products (US), and Elevance Renewable Sciences, Inc. (US).


Regional Analysis


The global soy-based chemicals market has been studied across five key regions, namely, Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.


The North American market accounted for the largest market share in 2018 and is projected to register a healthy CAGR in the coming years. This is largely attributed to the high production of soybean and stringent greenhouse emission regulations on the reduction of usage of fossil fuels. The US is the leading country in the region on account of high consumption of soy-based chemicals in food & beverages and biofuel applications. Moreover, the presence of major producers of soy-based chemicals such as Dow, Archer Daniels Midland Company, Cargill Inc., and BioBased Technologies LLC in the US is likely to propel the regional market growth. The Asia-Pacific market is estimated to grow at the highest CAGR during the review period owing to the presence of significant soybean farming in India and China. China is the major contributor in the region, which is followed by India, Japan, Thailand, and South Korea. Also, strong agrarian economies, large consumer base, growing demand for eco-friendly bio-fuels, and soy-based food products are some of the other factors further boosting the regional market growth. Europe held a substantial market share in 2018 owing to the high consumption of soy-based chemicals in personal care, food and beverages, and paper industries. Germany is the prominent country in the region on account of large automotive base and growing government initiatives for bio-fuels. Spain, Italy, France, and the Netherlands are other key countries in the region. The Latin American market is projected to grow at a notable CAGR on account of large plantations of soybean in Brazil and Argentina. The Middle East & Africa market is likely to grow at a sluggish CAGR owing to high production of fossil fuels and high raw material costs.


Segmentation Analysis


The global soy-based chemicals market has been segmented based on type, application, and region.


On the basis of type, the global soy-based chemicals market has been categorized as soy oil, fatty acid, polyols, soy waxes, methyl soyate, isoflavones, and others.


Based on application, the global soy-based chemicals market has been classified as paper, food and beverages, cosmetic and personal care, plastic and polymers, biofuel, and others.


By region, the global soy-based chemicals market has been studied for five key regionsAsia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.


Target Audience



  • Soy-based chemicals manufacturers

  • Raw material suppliers

  • Distributors and suppliers of soy-based chemicals

  • Potential investors

  • Research institutes

  • Government bodies



Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2017: USD 23 Billion
  • 2030 : Significant Value
  •   CAGR

  • 6.3% (2016-2025)
  • 2030 : Substantial Value
  •   Base Year   2021
      Forecast Period   2022 to 2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Billion)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Type, Application
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   Dow (US), Archer Daniels Midland Company (US), BioBased Technologies LLC (US), Bunge Limited (US), Ag Processing Inc. (US), Cargill Inc. (US), LANXESS (Germany), Vertec BioSolvents (US), Eco Safety Products (US), and Elevance Renewable Sciences, Inc. (US).
      Key Market Opportunities

  • Easy production of soybean
  • Increasing government investments for the production of soy-based chemicals
  •   Key Market Drivers

  • The growing use of bio-based sources in various industries
  • On account of stringent government regulations
  • Rising consumer awareness


  • Speak to Analyst Ask for Customization

    Frequently Asked Questions (FAQ) :


    The soy-based chemicals market is projected to grow at a 6.3% CAGR between 2016-2025.

    Some of the major applications of soy-based chemicals include biofuel, plastic and polymers, cosmetic & personal care, food & beverages, and paper.

    Consumers shift to soy oils and better performance characteristics is adding market growth.

    Allergies from soybean and availability of substitutes may limit market growth.

    Key players profiled in the soy-based chemicals market include Elevance Renewable Sciences, Inc. (US), Eco Safety Products (US), Vertec BioSolvents (US), LANXESS (Germany), Cargill Inc. (US), Ag Processing Inc. (US), Bunge Limited (US), BioBased Technologies LLC (US), Archer Daniels Midland Company (US), and Dow (US).

    Table of Contents

    1 Executive Summary

    2 Market Introduction

    2.1 Market Definition

    2.2 Scope of the Study

    2.2.1 Research Objectives

    2.2.2 Assumptions & Limitations

    2.3 Markets Structure

    2.4 Key Takeaways

    3 Market Research Methodology

    3.1 Research Process

    3.2 Primary Research

    3.3 Secondary Research

    3.4 Market Size Estimation

    3.5 Forecast Model

    4 Market Dynamics of the Global Soy-Based Chemicals Market

    4.1 Introduction

    4.2 Drivers

    4.3 Restraints

    4.4 Opportunities

    4.5 Challenges

    4.6 Trends/Technology

    5 Market Factor Analysis of the Global Soy-Based Chemicals Market

    5.1 Supply Chain Analysis

    5.1.1 Raw Material Suppliers

    5.1.2 Manufacturers/Producers

    5.1.3 Distributors/Retailers/Wholesalers/E-Commerce

    5.1.4 End User

    5.2 Porter’s Five Forces Analysis

    5.2.1 Threat of New Entrants

    5.2.2 Bargaining Power of Buyers

    5.2.3 Bargaining Power of Suppliers

    5.2.4 Threat of Substitutes

    5.2.5 Intensity of Competitive Rivalry

    5.3 Pricing Analysis

    6. Global Soy-Based Chemicals Market, by Type

    6.1 Introduction

    6.2 Soy Oil

    6.2.1 Market Estimates & Forecast, 2020−2027

    6.2.2 Market Estimates & Forecast, by Region, 2020−2027

    6.3 Fatty Acid

    6.3.1 Market Estimates & Forecast, 2020−2027

    6.3.2 Market Estimates & Forecast, by Region, 2020−2027

    6.4 Polyols

    6.4.1 Market Estimates & Forecast, 2020−2027

    6.4.2 Market Estimates & Forecast, by Region, 2020−2027

    6.5 Soy Waxes

    6.5.1 Market Estimates & Forecast, 2020−2027

    6.5.2 Market Estimates & Forecast, by Region, 2020−2027

    6.6 Methyl Soyate

    6.6.1 Market Estimates & Forecast, 2020−2027

    6.6.2 Market Estimates & Forecast, by Region, 2020−2027

    6.7 Isoflavones

    6.7.1 Market Estimates & Forecast, 2020−2027

    6.7.2 Market Estimates & Forecast, by Region, 2020−2027

    6.8 Others

    6.8.1 Market Estimates & Forecast, 2020−2027

    6.8.2 Market Estimates & Forecast, by Region, 2020−2027

    7. Global Soy-Based Chemicals Market, by Application

    7.1 Introduction

    7.2 Paper

    7.2.1 Market Estimates & Forecast, 2020−2027

    7.2.2 Market Estimates & Forecast, by Region, 2020−2027

    7.3 Food and Beverages

    7.3.1 Market Estimates & Forecast, 2020−2027

    7.3.2 Market Estimates & Forecast, by Region, 2020−2027

    7.4 Cosmetic and Personal Care

    7.4.1 Market Estimates & Forecast, 2020−2027

    7.4.2 Market Estimates & Forecast, by Region, 2020−2027

    7.5 Plastic and Polymers

    7.5.1 Market Estimates & Forecast, 2020−2027

    7.5.2 Market Estimates & Forecast, by Region, 2020−2027

    7.6 Bio-Fuel

    7.6.1 Market Estimates & Forecast, 2020−2027

    7.6.2 Market Estimates & Forecast, by Region, 2020−2027

    7.7 Others

    7.7.1 Market Estimates & Forecast, 2020−2027

    7.7.2 Market Estimates & Forecast, by Region, 2020−2027

    8. Global Soy-Based Chemicals Market, by Region

    8.1 Introduction

    8.2 North America

    8.2.1 Market Estimates & Forecast, 2020−2027

    8.2.2 Market Estimates & Forecast, by Type, 2020−2027

    8.2.3 Market Estimates & Forecast, by Application, 2020−2027

    8.2.4 US

    8.2.4.1 Market Estimates & Forecast, 2020−2027

    8.2.4.2 Market Estimates & Forecast, by Type, 2020−2027

    8.2.4.3 Market Estimates & Forecast, Application, 2020−2027

    8.2.5 Canada

    8.2.5.1 Market Estimates & Forecast, 2020−2027

    8.2.5.2 Market Estimates & Forecast, by Type, 2020−2027

    8.2.5.3 Market Estimates & Forecast, by Application, 2020−2027

    8.3 Europe

    8.3.1 Market Estimates & Forecast, 2020−2027

    8.3.2 Market Estimates & Forecast, by Type, 2020−2027

    8.3.3 Market Estimates & Forecast, by Application, 2020−2027

    8.3.4 Germany

    8.3.4.1 Market Estimates & Forecast, 2020−2027

    8.3.4.2 Market Estimates & Forecast, by Type, 2020−2027

    8.3.4.3 Market Estimates & Forecast, by Application, 2020−2027

    8.3.5 France

    8.3.5.1 Market Estimates & Forecast, 2020−2027

    8.3.5.2 Market Estimates & Forecast, by Type, 2020−2027

    8.3.5.3 Market Estimates & Forecast, by Application, 2020−2027

    8.3.6 Italy

    8.3.6.1 Market Estimates & Forecast, 2020−2027

    8.3.6.2 Market Estimates & Forecast, by Type, 2020−2027

    8.3.6.3 Market Estimates & Forecast, by Application, 2020−2027

    8.3.7 Spain

    8.3.7.1 Market Estimates & Forecast, 2020−2027

    8.3.7.2 Market Estimates & Forecast, by Type,2020−2027

    8.3.7.3 Market Estimates & Forecast, by Application, 2020−2027

    8.3.8 UK

    8.3.8.1 Market Estimates & Forecast, 2020−2027

    8.3.8.2 Market Estimates & Forecast, by Type,2020−2027

    8.3.8.3 Market Estimates & Forecast, by Application, 2020−2027

    8.3.9 Russia

    8.3.9.1 Market Estimates & Forecast, 2020−2027

    8.3.9.2 Market Estimates & Forecast, by Type,2020−2027

    8.3.9.3 Market Estimates & Forecast, by Application, 2020−2027

    8.3.10 Poland

    8.3.10.1 Market Estimates & Forecast, 2020−2027

    8.3.10.2 Market Estimates & Forecast, by Type, 2020−2027

    8.3.10.3 Market Estimates & Forecast, by Application, 2020−2027

    8.3.11 Rest of Europe

    8.3.11.1 Market Estimates & Forecast, 2020−2027

    8.3.11.2 Market Estimates & Forecast, by Type, 2020−2027

    8.3.11.3 Market Estimates & Forecast, by Application, 2020−2027

    8.4 Asia-Pacific

    8.4.1 Market Estimates & Forecast, 2020−2027

    8.4.2 Market Estimates & Forecast, by Type, 2020−2027

    8.4.3 Market Estimates & Forecast, by Application, 2020−2027

    8.4.4 China

    8.4.4.1 Market Estimates & Forecast, 2020−2027

    8.4.4.2 Market Estimates & Forecast, by Type, 2020−2027

    8.4.4.3 Market Estimates & Forecast, by Application, 2020−2027

    8.4.5 India

    8.4.5.1 Market Estimates & Forecast, 2020−2027

    8.4.5.2 Market Estimates & Forecast, by Type, 2020−2027

    8.4.5.3 Market Estimates & Forecast, by Application, 2020−2027

    8.4.6 Japan

    8.4.6.1 Market Estimates & Forecast, 2020−2027

    8.4.6.2 Market Estimates & Forecast, by Type, 2020−2027

    8.4.6.3 Market Estimates & Forecast, by Application, 2020−2027

    8.4.7 Australia & New Zealand

    8.4.7.1 Market Estimates & Forecast, 2020−2027

    8.4.7.2 Market Estimates & Forecast, by Type, 2020−2027

    8.4.7.3 Market Estimates & Forecast, by Application, 2020−2027

    8.4.8 Rest of Asia-Pacific

    8.4.8.1 Market Estimates & Forecast, 2020−2027

    8.4.8.2 Market Estimates & Forecast, by Type, 2020−2027

    8.4.8.3 Market Estimates & Forecast, by Application, 2020−2027

    8.5 Middle East & Africa

    8.5.1 Market Estimates & Forecast, 2020−2027

    8.5.2 Market Estimates & Forecast, by Type, 2020−2027

    8.5.3 Market Estimates & Forecast, by Application, 2020−2027

    8.5.4 GCC

    8.5.4.1 Market Estimates & Forecast, 2020−2027

    8.5.4.2 Market Estimates & Forecast, by Type, 2020−2027

    8.5.4.3 Market Estimates & Forecast, by Application, 2020−2027

    8.5.5 Israel

    8.5.5.1 Market Estimates & Forecast, 2020−2027

    8.5.5.2 Market Estimates & Forecast, by Type, 2020−2027

    8.5.5.3 Market Estimates & Forecast, by Application, 2020−2027

    8.5.6 North Africa

    8.5.6.1 Market Estimates & Forecast, 2020−2027

    8.5.6.2 Market Estimates & Forecast, by Type, 2020−2027

    8.5.6.3 Market Estimates & Forecast, by Application, 2020−2027

    8.5.7 Turkey

    8.5.7.1 Market Estimates & Forecast, 2020−2027

    8.5.7.2 Market Estimates & Forecast, by Type, 2020−2027

    8.5.7.3 Market Estimates & Forecast, by Application, 2020−2027

    8.5.8 Rest of Middle East & Africa

    8.5.8.1 Market Estimates & Forecast, 2020−2027

    8.5.8.2 Market Estimates & Forecast, by Type, 2020−2027

    8.5.8.3 Market Estimates & Forecast, by Application, 2020−2027

    8.6 Latin America

    8.6.1 Market Estimates & Forecast, 2020−2027

    8.6.2 Market Estimates & Forecast, by Type, 2020−2027

    8.6.3 Market Estimates & Forecast, by Application, 2020−2027

    8.6.4 Brazil

    8.6.4.1 Market Estimates & Forecast, 2020−2027

    8.6.4.2 Market Estimates & Forecast, by Type, 2020−2027

    8.6.4.3 Market Estimates & Forecast, by Application, 2020−2027

    8.6.5 Argentina

    8.6.5.1 Market Estimates & Forecast, 2020−2027

    8.6.5.2 Market Estimates & Forecast, by Type, 2020−2027

    8.6.5.3 Market Estimates & Forecast, by Application, 2020−2027

    8.6.6 Mexico

    8.6.6.1 Market Estimates & Forecast, 2020−2027

    8.6.6.2 Market Estimates & Forecast, by Type, 2020−2027

    8.6.6.3 Market Estimates & Forecast, by Application, 2020−2027

    8.6.7 Rest of Latin America

    8.6.7.1 Market Estimates & Forecast, 2020−2027

    8.6.7.2 Market Estimates & Forecast, by Type, 2020−2027

    8.6.7.3 Market Estimates & Forecast, by Application, 2020−2027

    9. Company Landscape

    9.1 Introduction

    9.2 Market Strategy

    9.3 Key Development Analysis (Expansion/Mergers & Acquisitions/Joint Ventures/New Product Development/Agreements/Investments)

    10. Company Profiles

    10.1 Dow

    10.1.1 Company Overview

    10.1.2 Financial Updates

    10.1.3 Product/Business Segment Overview

    10.1.4 Strategy

    10.1.5 Key Developments

    10.1.6 SWOT Analysis

    10.2 Archer Daniels Midland Company

    10.2.1 Company Overview

    10.2.2 Financial Updates

    10.2.3 Product/Business Segment Overview

    10.2.4 Strategy

    10.2.5 Key Developments

    10.2.6 SWOT Analysis

    10.3 BioBased Technologies LLC

    10.3.1 Company Overview

    10.3.2 Financial Updates

    10.3.3 Product/Business Segment Overview

    10.3.4 Strategy

    10.3.5 Key Developments

    10.3.6 SWOT Analysis

    10.4 Bunge Limited

    10.4.1 Company Overview

    10.4.2 Financial Updates

    10.4.3 Product/Business Segment Overview

    10.4.4 Strategy

    10.4.5 Key Developments

    10.4.6 SWOT Analysis

    10.5 Ag Processing Inc.

    10.5.1 Company Overview

    10.5.2 Financial Updates

    10.5.3 Product/Business Segment Overview

    10.5.4 Strategy

    10.5.5 Key Developments

    10.5.6 SWOT Analysis

    10.6 Cargill Inc.

    10.6.1 Company Overview

    10.6.2 Financial Updates

    10.6.3 Product/Business Segment Overview

    10.6.4 Strategy

    10.6.5 Key Developments

    10.6.6 SWOT Analysis

    10.7 LANXESS

    10.7.1 Company Overview

    10.7.2 Financial Updates

    10.7.3 Product/Business Segment Overview

    10.7.4 Strategy

    10.7.5 Key Developments

    10.7.6 SWOT Analysis

    10.8 Vertec BioSolvents

    10.8.1 Company Overview

    10.8.2 Financial Updates

    10.8.3 Product/Business Segment Overview

    10.8.4 Strategy

    10.8.5 Key Developments

    10.8.6 SWOT Analysis

    10.9 Eco Safety Products

    10.9.1 Company Overview

    10.9.2 Financial Updates

    10.9.3 Product/Business Segment Overview

    10.9.4 Strategy

    10.9.5 Key Developments

    10.9.6 SWOT Analysis

    10.10 Elevance Renewable Sciences, Inc.

    10.10.1 Company Overview

    10.10.2 Financial Updates

    10.10.3 Product/Business Segment Overview

    10.10.4 Strategy

    10.10.5 Key Developments

    10.10.6 SWOT Analysis

    11. Conclusion

    LIST OF TABLES


    Table 1 Global Soy-Based Chemicals Market: by Region, 2020−2027

    Table 2 North America: Soy-Based Chemicals Market, by Country, 2020−2027

    Table 3 Europe: Soy-Based Chemicals Market, by Country, 2020−2027

    Table 4 Asia-Pacific: Soy-Based Chemicals Market. by Country, 2020−2027

    Table 5 Middle East & Africa: Soy-Based Chemicals Market, by Country, 2020−2027

    Table 6 Latin America: Soy-Based Chemicals Market, by Country, 2020−2027

    Table 7 Global Soy-Based Chemicals Type Market, by Regions, 2020−2027

    Table 8 North America: Soy-Based Chemicals Type Market, by Country, 2020−2027

    Table 9 Europe: Soy-Based Chemicals Type Market, by Country, 2020−2027

    Table10 Asia-Pacific: Soy-Based Chemicals Type Market, by Country, 2020−2027

    Table11 Middle East & Africa: Soy-Based Chemicals Type Market, by Country, 2020−2027

    Table12 Latin America: Soy-Based Chemicals Type Market, by Country, 2020−2027

    Table13 Global Soy-Based Chemicals Application Market, by Regions, 2020−2027

    Table14 North America: Soy-Based Chemicals Application Market, by Country, 2020−2027

    Table15 Europe: Soy-Based Chemicals Application Market, by Country, 2020−2027

    Table16 Asia-Pacific: Soy-Based Chemicals Application Market, by Country, 2020−2027

    Table17 Middle East & Africa: Soy-Based Chemicals Application Market, by Country, 2020−2027

    Table18 Latin America: Soy-Based Chemicals by Application Market, by Country, 2020-2027

    Table19 Global Type Market, by Region, 2020−2027

    Table20 Global Application Market, by Region, 2020−2027

    Table21 North America: Soy-Based Chemicals Market, by Country, 2020−2027

    Table22 North America: Soy-Based Chemicals Market, by Type, 2020−2027

    Table23 North America: Soy-Based Chemicals Market, by Application, 2020−2027

    Table24 Europe: Soy-Based Chemicals Market, by Country, 2020−2027

    Table25 Europe: Soy-Based Chemicals Market, by Type, 2020−2027

    Table26 Europe: Soy-Based Chemicals Market, by Application, 2020−2027

    Table27 Asia-Pacific: Soy-Based Chemicals Market, by Country, 2020−2027

    Table28 Asia-Pacific: Soy-Based Chemicals Market, by Type, 2020−2027

    Table29 Asia-Pacific: Soy-Based Chemicals Market, by Application, 2020−2027

    Table30 Middle East & Africa: Soy-Based Chemicals Market, by Country, 2020−2027

    Table31 Middle East & Africa: Soy-Based Chemicals Market, by Type, 2020−2027

    Table32 Middle East & Africa: Soy-Based Chemicals Market, by Application, 2020−2027

    Table33 Latin America: Soy-Based Chemicals Market, by Country, 2020−2027

    Table34 Latin America: Soy-Based Chemicals Market, by Type, 2020−2027

    Table35 Latin America: Soy-Based Chemicals Market, by Application, 2020−2027

    LIST OF FIGURES

    FIGURE 1 Global Soy-Based Chemicals Market Segmentation

    FIGURE 2 Forecast Research Methodology

    FIGURE 3 Five Forces Analysis of Global Soy-Based Chemicals Market

    FIGURE 4 Value Chain of Global Soy-Based Chemicals Market

    FIGURE 5 Global Soy-Based Chemicals Market, 2020−2027, by Country, 2020

    FIGURE 6 Share of Global Soy-Based Chemicals Market, by Country, 2020−2027

    FIGURE 7 Global Soy-Based Chemicals Market Size, by Type, 2020

    FIGURE 8 Share of Global Soy-Based Chemicals Market, by Type, 2020−2027

    FIGURE 9 Global Soy-Based Chemicals Market Size, by Application, 2020

    FIGURE10 Share of Global Soy-Based Chemicals Market, by Application, 2020−2027