Soy-Based Chemicals Market Growth by Industry Size, Share, Revenue and Forecast Up to 2023
Synopsis of Soy-based chemicals Market
With the growing use of bio-based sources in various industries, the soy-based chemicals market is expected to show a considerable growth during the forecast period. Soy-based chemicals are used in various application such as paper, cosmetics & personal care, food & beverages, plastics & polymers, biodiesel, and others. The growing awareness about the harmful emissions from the use of fossil fuels has shifted to biobased products, which, in turn, is expected to drive the global soy-based chemicals market during the forecast period. Soy-based chemicals are regarded as an efficient substitute for petroleum and other crude-derived chemicals. The global soy-based chemicals market is expected to exhibit a CAGR of over 6% during the forecast period. The growing demand for environmentally sustainable materials is likely to drive the market for soybased chemicals during the forecast period. Moreover, the growing demand for biofuels is further expected to propel the growth of the soy-based biodiesel during the forecast period. Among the various application, the biofuel is anticipated to be the largest application owing to the growing encouragement by the governments across the globe to limit the harmful emissions. Moreover, the plastic industry is also expected to show a significant growth owing to the high adoption of bioplastics and polymers. Ask for Sample@ https://www.marketresearchfuture.com/sample_request/1005 Market Scenario