Global soy chemicals market is expected to grow over the forecast period owing to its increasing demand in automobile and biopolymer industry. Soy chemicals constitute extracts from soybeans in the form of soy waxes, epoxidized products, isoflavones, methyl soyate, soy fatty acids, lecithin, polyols and refined industrial soy oil. Fatty acids, soy waxes, polyols and methyl soyate are extensively used in renewable plastics and biofuels. Replacing petrochemicals by the use of these biofuels have a positive environmental advantage which is the root cause for the growth of soy chemicals in automobile industry. Petrochemicals when used to run automobiles emit huge amounts of GHGs which are the root cause of air pollution globally. Soy chemicals are used in several other industries including cosmetics, paper, bedding, furniture, food & beverages and toiletries.
http://www.grandviewresearch.com/industry-analysis/soy-chemicals-markets
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