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Soy-Based Chemicals Market Demand, Share, and Top Key Players Analysis Report 2021 – 2024 | Says Kenneth Research

Kenneth Research has recently added a report titled Soy-Based Chemicals market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021-2024. Soy-Based Chemicals market is further anticipated to grow with a CAGR of 7.9% during the forecast period. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.

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“Final Report will add the analysis of the impact of COVID-19 on this industry.”

As per the latest report published by Variant Market Research, Global Soy-Based Chemicals Market is estimated to reach $22.8 Billion by 2024; growing at a CAGR of 7.9% from 2016 to 2024. Soy based chemicals are originated from crude oil or petroleum, and are alternatives to conventional chemicals. The chemicals derived from soy bean are not only reliable alternative to traditional crude oil and petroleum, but also ensure sustainability and reduce carbon footprints. Conventionally, soy chemicals find its use in various applications across a different set of industries. The chemicals originated from soy-oil have been used in variety of applications such as bio-degradable plastics, biodiesel, and soap among others.

Rising awareness about the advantages of bio based commodities coupled with stringent environmental regulations are the primary factors driving the growth of global soy based chemicals market. Besides, increasing demand for bio-degradable plastics derived from soy based chemicals have fueled the market growth. Though, lack of raw material required for soy based products is the major restraint for the growth of the market. Moreover, growing demand for usage of soy based chemicals in food & beverage industry, and ongoing R&D for better quality product is likely to gain significant impetus for the market growth in the forecast timeframe.

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Type, application, and geography are the major segments considered in the global soy based chemicals market. The segmentation by type comprises soy-oil, fatty acids, polyols, isoflavones, soy-wax, methyl soyate, and other types. On the basis of application, the segmentations are food and beverages, biodiesel, paper and pulp, plastic and polymers, cosmetics, and other applications.

Based on geography, global soy based chemicals market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consists of UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.

The key players in the global soy based chemicals market include Archer Daniels Midland Company, The Dow Chemical Company, BioBased Technologies LLC, Soy Technologies LLC, VertecBioSolvents Inc., Cara Plastics Inc., Elevance Renewable Sciences Inc., Cargill Inc., Soyaworld Inc., and Bunge Ltd., among others.

The key takeaways from the report
The report will provide detailed analysis of Soy Based Chemicals Market with respect to major segments such as type, and application
The report will include the qualitative and quantitative analysis with market estimation over 2015 – 2024 and compound annual growth rate (CAGR) between 2016 and 2024

Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Soy Based Chemicals Market has been included in the report

Profile of the key players in the Soy Based Chemicals Market will be provided, which include key financials, product & services, new developments and business strategies

Scope of the Global Soy Based Chemicals Market
Type Segments

Soy-Oil
Polyols
Fatty Acids
Soy-Wax
Isoflavones
Methyl Soyate
Other Types
Application Segments

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Food and Beverage
Plastic and Polymers
Biodiesel
Paper and Pulp
Cosmetics
Other Applications
Geographical Segments

North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
RoW
South America
Middle East
Africa

About Kenneth Research:

Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.

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Kenneth Research
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