Global Industry Insight Soy-Based Chemicals Market Size, Share, Development, Growth and Demand Forecast to 2022

The global soy-based chemicals market is driven by worldwide concern over environmental consequence and consumer preference towards industrial ecology, eco efficiency and demand for green chemicals. The urgency to develop noble bio-degradable product and renewable source of energy from algae and soy is also influenced by fluctuations in price of crude oil, combined with geo-political uncertainty in Middle East. All these factors have lead to the development and engineering of advanced organic compound based chemicals that have performance characteristics and undergo decomposition to prevent environmental pollution. For these reasons, the production of bio-degradable materials from renewable agricultural feedstock has attracted attention from different market segments in recent years.

The most widespread soybean derivatives include soy-milk and soy-oil. These are extensively used in food and beverage industry, owing to their high nutrient content. Soy-protein concentrate, flakes and isolates can be compounded with synthetic plastics, such as poly lactic acid; and polycaprolactone to extract chemicals, such as polyols, methyl soyate, waxes, thermoset plastics, elastomer, plasticiser, rubber compounds, isoflavones and other oleochemicals that are utilized to make edible films or moulded products, such as bio-degradable plastics, shopping bags and soaps.

These soy-based chemicals find their use across various industries, such as food and beverage, plastic and polymers, cosmetics, paints and coatings, hydrogels and adhesive. Other industries include soy-based lubricant, soy ink, soy crayon and biodiesel.

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