Methyl Soyate Market Size, Development, Key Opportunity, Application, Trends

Posted by Nikhil khadilkar on April 2nd, 2019

Methy soyate derived from soybean oil and is a key ingredient in an eco-friendly mixture of solvents.  Volatile in crude oil prices and increasing concerns about the environmental impact of chemical cleaners and strippers propel the growth of alternative biofuel such as methyl soyate.

Methyl soyate is used in various end use industries such as paints & coatings, industrial & domestic cleaning, printing inks, cosmetics & personal care, and others.  Methyl Soyate is manufactured by the transesterification of soy oil esters. It is a mixture of long chain fatty acid methyl esters. Methyl soyate is most commonly used as a biodiesel, specifically in North America.

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Market Segmentation

Methyl soyate is segmented based on application and end use industry. Based on application, the market is categorized into degreasers, paint stripper, hand cleaners, ink removal, and others. In addition, Methyl soyate possess longer settle time, thus it has an additional advantage over traditional solvents where longer settle times are required and make it suitable for usage in industrial and domestic cleaning.

Based on end use industries, methyl soyate is segmented into paints & coatings, industrial & domestic cleaning, printing inks, cosmetics & personal care, and others. Methyl soyate is cost saving and readily biodegradable, owing to these properties methyl soyate is widely used in paints & coatings and cosmetic & personal care industries. VOC emission rate of methyl soyate is relatively low in comparison to conventional solvents, thus methyl soyate is widely used in paints and coating.

Regional Analysis

Asia Pacific has emerged as the leading regional market of methyl soyate due to its vast application in cosmetics and personal care, paints and coating sector. Moreover, demand from building & construction, and automotive have been witnessing significant growth in countries such as India and China. Stringent government norms as well as increasing health awareness in North America and Europe is anticipated to drive the demand for methyl soyate market in that region. Environmental Protection Agency consider methyl soyate as an ecofriendly solvent due to its low VOCs emission rate, thus boost up the growth of methyl soyate market in North America.

Competitive analysis

The major market players operating in the methyl soyate market include BASF SE (Germany), Stepan Company (U.S.), Cargill, Incorporated (U.S.), Camco Chemical Co. Inc. (U.S.), Florida Chemical Company (U.S.), Vertec BioSolvents (U.S.), Unicon Fibro Chemicals Pvt. Ltd. (India), and others

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