Methy soyate derived from soybean oil, and is a key ingredient in an eco-friendly mixture of solvents. Volatile in crude oil prices and increasing concerns about the environmental impact of chemical cleaners and strippers propel the growth of alternative biofuel such as methyl soyate. Methyl soyate is used in various end use industries such as paints & coatings, industrial & domestic cleaning, printing inks, cosmetics & personal care, and others. They possess low toxicity and low volatile organic compound (VOCs) emission rates which make it suitable for use in cosmetics and personal care and paints & coating sector.
Geographically, Asia Pacific is expected to witness high growth rate for methyl soyate market. Owing to the investment by major companies, specifically in India, China, and Thailand. Whereas growth rate of methyl soyate in Europe and North America is comparatively low. Countries such as Argentina and Brazil is expected to witness moderate growth over the forecast period due to the moderate growth rate of cosmetic and personal care industry.
The prominent players operating in the methyl soyate market include
- BASF SE (Germany),
- Stepan Company (U.S.),
- Cargill, Incorporated (U.S.),
- Camco Chemical Co. Inc. (U.S.),
- Florida Chemical Company (U.S.),
- Vertec BioSolvents (U.S.),
- Unicon Fibro Chemicals Pvt. Ltd. (India),
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Asia Pacific has emerged as the leading regional market of methyl soyate due to its vast application in cosmetics and personal care, paints and coating sector. Moreover, demand from building & construction, and automotive have been witnessing significant growth in countries such as India and China. Asia Pacific and Latin America offers significant growth potential for methyl soyate market over the coming years, mainly driven by industrial growth, technological advancement and low cost production in countries such as Japan, Brazil, and China.
Stringent government norms as well as increasing health awareness in North America and Europe is anticipated to drive the demand for methyl soyate market in that region. Environmental Protection Agency consider methyl soyate as an ecofriendly solvent due to its low VOCs emission rate, thus boost up the growth of methyl soyate market in North America.
Conventional solvent possess certain properties such as high VOCs emission rate, flammability, and ozone depletion properties. In addition, increase in the regulatory control by the various agencies such as Environment Protection Agency (EPA), compel the manufacturers to shift from conventional solvents to bio based solvents such as methyl soyate. Moreover, the paints & coatings industry in North America and Europe is tapping developing market like China, India and South Africa for increasing market share which will further strengthen the position in global market.
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Table of Content
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain Of Global Methyl Soyate Market
5 Industry Overview Of Global Methyl Soyate Market
The major factors driving the demand of methyl soyate market in Asia Pacific followed by Europe and North America are rising demand for anti-aging cream, household cleaners, graffiti cleaners and change in lifestyle among the youth population. Increasing disposable income and increasing consumer awareness about benefits of methyl soyate like low cost and easy biodegradable among the youngsters in metropolitan cities enhance the growth of methyl soyate market. Furthermore, the growth is projected to be mainly driven by the special discounts and offers by the retail outlets as well as online distribution channels.
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions. In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.