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Soy Chemicals Market Detailed Analysis of Current Industry Figures with Forecasts Growth By 2024

Author : Rahul Varpe | Published Date : 2019-08-05 

Soy Chemicals Market may exceed USD 44.5 billion by 2024; according to a new research report. Rising environmental concerns along with increasing demand for bio-based products may stimulate soy chemicals market demand. These products are highly used as alternatives for petroleum and other conventional chemicals thereby reducing the effect of harmful GHG emissions. Soy chemicals are utilized across various end-use segments owing to stringent government regulations regarding harmful emissions thereby enhancing market growth.

Rapid penetration and increasing threats of global warming, acid rain, water pollution and ozone layer depletion has led to increasing adoption of greener products globally. Soy based products are used as renewable chemicals which are being highly used adhesives, paints & coatings and plasticizers industries on account of climate changes and environmental degradation.

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Recently, the agribusiness and food ingredient company, Bunge North America received an approval from the U.S. FDA for its claim related to the consumption of soybean oil and its connection to coronary heart diseases. With its versatile portfolio, Bunge is continuously striving to disseminate the importance of soybean oil and its health benefits. Moreover, facilitated with in-depth scientific and clinical research, Bunge is looking forward to strengthening its business with strategic acquisitions and joint ventures. The growing North America soy chemicals market is slated to generate such attractive business opportunities for players such as Bunge over the years ahead. Indeed, driven primarily by Canada, U.S., and Mexico, North America soy chemicals market, claim estimates, will register a CAGR of more than 5% over 2018-2024.

Europe soy wax market from candle applications may register gains close to 3.5% up to 2024. Soy wax are made from soybeans as compared to its counterparts such as paraffin wax which are generally produced from petroleum. Additionally, these products provide better scent, cleaner burning and environmental benefits free from toxins, pollutants and carcinogens thereby enhancing soy chemicals market demand.

Browse key industry insights spread across 480 pages with 696 market data tables & 36 figures & charts from the report, “Soy Chemicals Market” in detail along with the table of contents:

Major industry participants in soy chemicals market consists of Griffin Industries, Dow Chemical, Cara Plastics, Soy Technologies, Soyaworld, Chemtura and Cargill. Manufacturers are highly engaged in forming partnerships and agreements to develop product portfolio and customer base along with enhancing regional reach which may further promote industry growth.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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