US soybean chemicals demand will reach US $2.7 billion in 2013

US soybean chemicals demand is expected to grow at a rate of 7.8% per year and reach US $2.7 billion by 2013 The success of the soybean chemicals industry depends on the dependence of alternative industrial production on traditional petrochemical raw materials Despite recent concerns about the impact of Biodiesel on the environment and the world's food supply, as well as competition from other alternative raw materials, demand for soybean chemicals continues to grow The trend is published in a study by Freedonia, a Cleveland based industrial research firm When the performance of soybean chemicals is equal to or exceeds that of the substitute petrochemical products, and the price of natural petrochemical products remains relatively high, the market share will expand In particular, soybean oil derivatives, such as soybean methyl oleate and polyhydroxy compounds, and other small-scale products will have better market opportunities Despite the competition of other raw materials, soybean oleate methyl ester is still the main soybean chemicals in biodiesel market Methyl soybean oleate as a cleaning product, paint coating and many other products solvent use, has a broader market Other soybean oil derivatives, such as polyols, will benefit from more companies' policies to use recyclable raw materials, as well as consumers' demand for environmentally friendly products, especially in the plastics and paint coatings markets Research and development activities on soybean oil derivatives will continue to expand, and new products will be put on the market in the next 5 to 10 years The renewal growth of natural extracts is mainly due to their healthier use in food industry, cosmetics and other consumer goods However, compared with the large number of applications in the cooked food and beverage market, the applications in other fields are limited Improved industrial soybean oil profits are falling below average as their use in traditional printing inks and alkyd resins declines However, with the improvement of performance requirements and public demand, the future development trend of lubricant industry is toward plant-based raw materials, such as soybean.