Freedonia In The News
Article Title: Soy chem to reach $2.7bn in 2013
By: Doris de Guzman
Publication: ICIS, 12/2/2009
Freedonia Study: Soy Chemicals (2538)
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forgot to add this report to my last soy post about soybean-based chemicals demand expected to increase 7.8%/year to $2.7 billion by 2013 according to Freedonia Group.
Methyl soyate used in biodiesel is said to be by far the most established soy chemical although it is beginning to face competition from other raw materials. Methyl soyate is also finding greater use as a solvent in cleaning products and paints and coatings.
"Other soy oil derivatives, such as polyols, will benefit from corporate initiatives to use more renewable feedstocks, as well as from consumer demand for more greener products particularly in the plastics (foam products), and paint and coatings market. Intense research and development activities will further fuel growth in soybean oil derivatives as new products enter the market over the next 5 years." - Freedonia
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