The global soy based chemicals market was valued at $11,688.7 million in 2015, and it is expected to grow at a CAGR of 7.5% during 2016 - 2022. The major factors driving the growth of the market globally include worldwide concern over environmental consequence and consumer preference towards industrial ecology, eco efficiency and demand for green chemicals.

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Most of these products consume less energy and emit less carbon dioxide. These materials might be costly than conventional products, but this higher expense may be partly offset by the fact that usage of these kind of products reduces the need for replacements due to their longer lifespan.

In 2015, North America held the largest share in the global soy-based chemicals market with 34.5% share in terms of value. The developing countries in South America are also expected to make serious progress in the global soy-based chemical market. The Asian countries, such as Korea, Singapore and China are investing heavily in the renewable chemical sector.

Based on application, the global soy-based oil market has been segmented into food and beverages, plastic and polymers, biodiesel, paper and pulp, cosmetics, and others. The biodiesel segment accounted for the largest market share among the various applications in the global soy-based chemicals market in 2015.

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Some of the major companies operating in the global soy-based chemical market include The Dow Chemical Company, Archer Daniels Midland Co., Soy Technologies LLC, BioBased Technologies LLC, Bunge Ltd., Cargill Inc., VertecBioSolvents Inc., Cara Plastics Inc., Elevance Renewable Sciences Inc., and Soyaworld Inc.