Market Research Future Published a Half Cooked Research “Global Soy Based Chemicals Market Research Report – Forecast to 2027” – Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2027.
COMPO GmbH & Co. KG, S. Chemicals LLC, Baymag, QingHai Salt Lake Industry, SDIC Xinjiang Luobupo Potash, Geermuzige Potash, Qinghai Hanhai Group, Rech Chemical, Yash Chemicals, Hengyang Jumbo Feed Additives, Jinxing Chemical, K+S Group, KOLOD, Mani Agro Chem, HebeiRongkemeiye and other are some of the prominent players at the forefront of competition in the Global Soy Based Chemicals Market and are profiled in MRFR Analysis.
Soy Based Chemicals Market – Market Overview
Increasing usage of chemicals derived from petroleum becoming resulting in to the carbon dioxide emission. Therefore, there is need to harness the potential bio based products in order to eliminate environmental impact. Soy based chemicals are derived from soybean and are merging as an alternative to the products derived from petroleum (crude oil). The market for soy based chemicals was growing gradually over the years and it is expected to grow dynamically in the coming years. Major end use industries such as Automotive, paints & coatings, Adhesive & sealants and others are moving towards the adoption of bio based products, in order to eliminate the dependence the on petroleum based products.
Stringent environmental regulations on petroleum based products has itself promoted the growth of soy based products and resulting into productive growth of this market. Increasing demand for bio degradable plastics derived from soy based chemicals, growing adoption of soy based chemicals in food industry, and relatively better performance offered by these products driving the growth of this market. As per the industry experts, growth observed in this market is productive, however, the market is expected to grow dynamically over the assessment period. As per the research, overall chemicals industry is witnessing shifting trend from petroleum based products towards bio based products. The shifting industry trend expected to drive the global growth.
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Soy Based Chemicals Market- Competitive Landscape
The degree of competition observed in this market is shifting from moderate to high due to the increasing products demand for bio based products. The market consist of large number of Tier-1 manufacturer majorly focusing on the product innovation in order to cater the increasing demand for bio based product demand. The industry have witnessed several number of market alliances to increase the market penetration of bio based products. As per the industry experts, the competitive rivalry observed among market participant is high, and it is expected to get even higher over the coming years.
Industry/ Innovation/ Related News:
February 2, 2017- Novamont S.p.A acquired the remaining 22% share capital of Mater-Biopolymer srl. With this acquisition the company strengthen its position in biopolymer market. This is considered as one of their recent market alliances and is expected and has set increased consumption of bio based products. The acquisition activity further expected to open new growth opportunities for bio based products.
October 21, 2014 – Bio-based materials and chemicals set to attract nearly USD 1 billion investment in 2014. The bio-based materials and chemicals industry is poised to attract nearly $1 billion in investment this year, led notably by later-stage funding rounds, according to Lux Research. The estimated USD 974 million investment represents a 28% increase from 2013, suggesting companies that endured the waves of economic disruption have gained maturity and regained investors’ confidence. Chemical industry trend towards the adoption of bio material driven by increasing global green awareness along with demand for environmentally less harmful products has created scope for such investment.
February 3, 2015 – VWR a leading, independent provider of laboratory products, services and solutions, announced acquisition of National Biochemical. The company is a full service raw material manufacturer and supplier to the biochemical industry. This acquisition will enhance VWR’s growing custom chemical and biochemical manufacturing portfolio, building upon previous successful acquisitions in this segment. As per the industry experts, concern for bio based products i.e. chemicals expected to provide higher gains in the coming years, specifically, for chemical industry. Taking into account the acquisition, VWR expected to emerge as major industry players in laboratory segment.
March, 2016 – Mitsui Chemicals launches bio-polyol joint venture in India. VCP was established as a joint venture of Mitsui Chemicals, which holds a 40% stake in the company, and India’s Jayant Agro-Organics Ltd. – the world’s leading producer of castor oil – which owns 50% of the shares. The remaining 10% are in the hands of a third partner, Itoh Oil Chemical Co., Ltd. VCP will manufacture and sell cost-competitive bio-polyols based on castor oil sourced in India, where 80% of the world’s castor oil is produced from non-edible plants, thus ensuring a stable feedstock supply. The new manufacturing plant, with an 8,000 tonnes per year capacity, started commercial production of bio-polyols in January 2017.
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