In England, companiesandmarkets.com announced a new report forecasting that the global soy chemicals market will reach over $13 billion by the year 2017, spurred by the anticipated high demand from bio-diesels market and growing adoption of alternative renewable sources of energy.
In particular, the soy-derived chemicals such as soy-based foamed plastics, polyols, methyl soyate, fatty acids and waxes hold tremendous potential for future growth. The report further states that increases in petrochemical and crude oil prices, combined with rising environmental concerns generated several opportunities for sustainable/renewable raw materials.
More background on the story from the Digest
Category: Chems & Materials