Pharmaceuticals

Increased consumption of dairy products to fuel fermentation defoamer market share

Posted on

Growing population and a subsequent rise in the demand for food & beverage products globally will propel fermentation defoamer market size over the forecast timeframe. Fermentation defoamers are widely used in the production of dairy items such as cheese, yogurt and sour cream, as well as alcoholic beverages including wine, beer, whiskey, and others. The product also finds application in making products such as coffee, bread, tofu, soy sauce, among numerous others. Consistent expansion of the food & beverage segment worldwide, outlined by evolving consumer preferences, is expected to augment fermentation defoamer industry share in the coming years.

North America Fermentation Defoamer Market Size, By Product, 2014 – 2025 (USD Million)
North America Fermentation Defoamer Market Size, By Product, 2014 – 2025 (USD Million) ?

Asia Pacific (APAC) processed food & beverage industry has witnessed stellar growth in the past decades owing to increasing household income levels, rapid urbanization, growing population, changing lifestyle as well as the entry of multinational food companies, specifically in India and China. Apparently, China is currently one of the leading beer producing countries around the globe. Both India and China are two of the largest producers of milk and dairy offerings, which require the use of defoamers to ensure suitable quality of the end product. All these factors will play a considerable role in fostering APAC fermentation defoamer industry scope over the projected timeline.

Rise in the demand for biofuels to address carbon dioxide emission concerns is anticipated to promote fermentation defoamer market size over coming years. Fermentation defoamers are extensively used in industrial fermentation processes to manufacture biofuels like ethanol and biogas, biodiesel, butanol and biohydrogen. Biofuels are expected to substitute conventional fossil fuels in the future owing to their eco-friendly properties. Increased consumption of biofuels all over the world will certainly bring new opportunities for businesses providing required materials and chemicals used in their production. However stringent regulations and strict guidelines regarding product usage in various segments could impede the industry growth to some extent.

Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/3735

Alcohol has historically played, and continues to play an important role on social occasions for bonding and engagement. A recent study conducted by a team of researchers for Addiction and Mental Health, in Canada and Germany, reports that at the global level, consumption of alcohol per year had surged by 70% between 1990 and 2017, which can be attributed to the growing popularity of alcoholic drinks among the younger generations. Defoamers are used in the production of alcoholic beverages to stop the formation of foams, representing a crucial application segment reinforcing fermentation defoamer market trends.

Increased consumption of cheese globally owing to shift in eating trends is another key factor that will surge the demand for defoamers. According to reports, an average American consumes approximately 23 pounds of cheese in a year. Over the years, processed food segment has grown rapidly owing to advancements in food processing technology. Apparently, most processed foods use some form of cheese for preparation. Global yogurt sales have experienced a tremendous increase owing to nutritional benefits and preference of health conscious consumers, suggesting substantial opportunities for fermentation defoamer industry growth from various dairy food products.

Consumption of coffee and its variants in North America has surged rapidly due to the lifestyle of people. The U.S. remains one of the leading consumers of coffee in the world and statistics suggest that coffee drinkers in the country consume an average of roughly 3.1 cups per day. In the U.K., bread remains the most favored choice of food, with nearly 99% households purchasing bread daily. Both bread and coffee make up an integral part of people’s day-to-day lives, and an increased consumption of these items will bolster fermentation defoamer market outlook.

Fermentation defoamers are proficient in minimizing the amount of foam produced during industrial fermentation process, which makes them an integral part of fermentation-based industrial applications. Climbing demand for antibiotics and the rising consumption of alcoholic beverages will prove to be crucial elements aiding the industry development. Global fermentation defoamer market size is estimated to exceed USD 2 billion annually by 2025.

Author NameHrishikesh Kadam

Advertisements

Rising automobile manufacturing trends to fuel glycol ether market size over 2019-2025

Posted on

Touted as an essential component across a slew of household and industrial applications, glycol ether market size has increased with concurrent expansion of the chemicals, cosmetics, personal care, paints and pharmaceutical sectors worldwide. As a vast number of products manufactured in these segments are water-based, effective solvents are needed to ensure their stability, shelf life and performance. Supposedly, a variety of product formulations and element combinations would not be possible without the presence of glycol ethers to support their reactions.

U.S. Ethylene Glycol Propyl Ether (EGPE) Market Size, By Application, 2018 & 2025, (Kilo Tons)
U.S. Ethylene Glycol Propyl Ether (EGPE) Market Size, By Application, 2018 & 2025, (Kilo Tons)    

Glycol ethers are applicable in the production of electronics and rubber products, while paints and coatings utilized by automotive OEMs represent a vital segment where glycol ether industry share could witness steady expansion in the years to come. Painting of vehicles represents one of the most critical coating applications, with end products ranging from passenger cars and bikes to all kinds of trucks. Basecoats or clearcoats and topcoat enamel finishes are applied by OEMs during assembly using various paint systems, and glycol ether-based solvents are now being preferred due to their high solvency and evaporation rates.

Suitable coatings provide various aesthetic benefits like enhanced shine and color, along with protecting against UV rays which can fade the exterior paint of a vehicle. Considering few other advantages of these solvent-based coatings and the number of vehicles produced each year, glycol ether market is poised to witness steady demand over the coming years. Evolving automotive sector, which is highlighted by increased preference towards more eco-friendly production processes, will further strengthen the industry outlook.

Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/3269

Asia-Pacific (APAC) region boasts of the largest population base as well as some of the fastest growing economies in the world. Not only has the region produced many leading automakers, but car companies form Europe and North America have also established a significant operational presence in the area. Unsurprisingly, auto manufacturing has provided a major boost to the economic growth and created tremendous opportunities for other business verticals, including glycol ether industry.

Referring to data released by the OICA, in 2018 China, India and Indonesia had manufactured more than 34.3 million vehicles combined, indicating the vast prospects benefiting the supportive industries in the region. Driven by rising disposable incomes and the development of more fuel efficient vehicles, the automobile segment in the region can be expected to grow at a considerable pace, in turn generating increased demand for effective paints and coatings. Subsequently, the segment could lead to augmented consumption of glycol ether solvents in APAC over the forecast period.

China’s state-owned automobile company, SAIC, had confirmed in late 2018 that a new $2.5 billion plant in Shanghai would be built under its joint venture with Volkswagen AG, where the German carmaker’s Audi branded vehicles will be produced. Production at the facility, having a 300,000 annual capacity, is likely to commence from 2020. In addition, SAIC had unveiled recently that it could invest nearly $350 million in India for setting up another manufacturing unit in the country for its MG brand. Similar expansion plans will drive glycol ether market outlook favorably from the paints & coatings segment.

The advent and growing popularity of electric cars (EVs) could reinvigorate glycol ether industry trends, since these vehicles are fast replacing their combustion engine predecessors on assembly lines and on the roads. Accelerated production of EVs globally will simultaneously propel the demand for glycol ether-based solvents to ensure that high-performance and efficient coatings are applied to them, which additionally provide other chemical benefits. For instance, Chinese firm BYD recently signed a deal with an Australian company to build EVs in Adelaide by 2020.

Evidently, a broad application scope and a fast growing automotive sector will significantly foster the consumption of glycol ether based paints and coatings. Globally, glycol ether market size is predicted to exceed $8.5 billion in annual revenues by 2025, outlined by the presence of key industry participants like Exxon Mobil, BASF SE, Dow Chemical, SABIC, Shell and HanNong Chemicals.

Author NamePankaj Singh

3 major driving factors influencing methyl isobutyl ketone market dynamics

Posted on Updated on

The global methyl isobutyl ketone market is slated to amass huge gains over the coming years, owing to the substance’s excessive use in insecticides and pesticides. These are essential for growing more food on less land by protecting crops from pests, weeds, and diseases. Whether from natural or synthetic sources, almost all commercial crop producers rely on pesticides, which include methyl isobutyl ketone.

U.S. Methyl Isobutyl Ketone (MIBK) Market Size, by End-use Industry, 2014 – 2025 (USD Million)
U.S. Methyl Isobutyl Ketone (MIBK) Market Size, by End-use Industry, 2014 – 2025 (USD Million)

In this context, it would also make sense to state that the rapid expansion of crop protection insecticides market is a key indicator demonstrating the growth of methyl isobutyl ketone market in the upcoming years.

How is the availability of fertile land impacting the business arena?

The agriculture sector in today’s day and age is under a stressful phase. The world needs more food, labor force, and fertile land to feed a rapidly growing population. The global population is anticipated to reach 9.8 billion by the year 2050. As a result, the demand for food will be 60 percent more than what it is today, but issues such as urbanization, climate change, and soil degradation will have reduced the availability of fertile land.

However, through pesticides, farmers can grow bigger crops on less land and increase productivity considerably. Since less area is used, it can also help reduce soil erosion, while controlling invasive pests and species. Hence, the declining availability of fertile land will pressurize farmers to focus on crop quality and quantity, which will in turn, boost the adoption of pesticides, thereby benefiting methyl isobutyl ketone industry share.

Are rising incidences of foodborne diseases driving product demand?

Crops are always susceptible to numerous kinds of species, weeds, and plant-eating pests that threaten the crop productivity. The threat doesn’t stop there, once an infested crop leaves the field, it can spoil the produce during the storage and transportation process as well, impacting consumers via severe foodborne diseases.

Get a Sample Copy of this Report:https://www.gminsights.com/request-sample/detail/2561

According to a credible source, around 1 in 10 people globally fall ill from eating food that is contaminated. A huge example concerning the matter is the 2017 E coli outbreak in the US from Romaine lettuce, following which 200 people fell sick, 96 were hospitalized, and five succumbed to the disease. Pesticides can help prevent disease outbreaks by killing insect populations that carry deadly bacteria. The increasing prevalence of foodborne diseases, stringent norms, and rising awareness pertaining to food security will thus boost the demand for insecticides, thereby proliferating methyl isobutyl ketone industry share.

Is growing preference for organic farming a positive sign?

Speaking of food safety, synthetic pesticides have also taken a beating for their high toxicity. High exposure to pesticides is said to cause several serious illness and diseases in humans, including respiratory diseases and cancers. To enhance productivity without posing a threat to consumers, manufacturers are now experimenting with organic pesticides which is further supported by the increasing acceptance for organic farming. Incidentally, the rising preference for organic food is also driving biopesticides market, the expansion of which is impacting methyl isobutyl ketone industry outlook.

Along similar lines, biotech firm Bionema recently raised £180,000 to develop biopesticides that can substantially reduce the dependency on chemicals for crop pest control. The company already is already marketing some products and plans to launch new biopesticide products by 2021. Methyl isobutyl ketone manufacturers use this chemical in organic pesticides and agrochemicals, which makes organic farming and increasing use of organic agrochemicals a positive driving force for the methyl isobutyl ketone market.

The global methyl isobutyl ketone industry is slated to be fueled by the rising need to produce high-quality yields in tandem with increasing demand for food. In addition, increasing need to prevent wastage of potential produce due to bacteria and plant-eating insects will present methyl isobutyl ketone manufacturers with huge opportunities in the crop protection market.

Apart from this, increasing government efforts to boost agricultural development, particularly in rural regions, will further contribute to market growth. For example, the government of India is reportedly aiming to double farm incomes by 2022. Successful achievements of such targets will empower farmers and agricultural firms to adopt more effective practices that involve the use of expensive organic or synthetic agrochemicals, that will eventually favor the global methyl isobutyl ketone industry. Furthermore, a research report by Global Market Insights, Inc. estimates methyl isobutyl ketone market to be worth more than $800 million by 2025.

Author NameKrithika Krishnan

Global benzalkonium chloride market to witness augmented demand from food & beverages sector over 2019-2025, pharmaceutical applications to fuel the industry growth

Posted on

Increasing consumption of various consumer and industrial products has led to a steady expansion of the global benzalkonium chloride market, in conjunction with the surge in disposable incomes of the working class population. The compound is effective as a disinfectant and preservative across food & beverage, pharmaceutical and chemical applications, being extensively found in nasal and ophthalmic medicines. Benzalkonium chloride is usually deployed as an antibacterial agent and surfactant in several household products like hand wash and hand wipes, along with personal care products and ointments. An augmented demand for such everyday products worldwide owing to rising population and higher consumer spending will reinforce the position of the benzalkonium chloride industry over the next few years.

U.S. Benzalkonium Chloride Market Size, By Application, 2018 & 2025, (Kilo Tons)
U.S. Benzalkonium Chloride Market Size, By Application, 2018 & 2025, (Kilo Tons)

Essentially, the pharmaceutical and cosmetic segments represent two key business verticals where the compound has made a significant impact. It helps preserve the efficacy of medicines while the antimicrobial activities help protect make-up products from disintegrating and increase their quality. Subsequently, consistent consumption of cosmetics and pharmaceuticals will offer considerable momentum to the benzalkonium chloride market throughout various regions. The size of the global pharmaceutical sector is projected to reach US$1.43 trillion by 2020 itself, suggesting vast opportunities for the industry. Narrowing the market potential in terms of using benzalkonium chloride as preservative in eye drops, Bayer and Regeneron’s ophthalmic drug Eylea alone had recorded sales of around US$6 billion in 2017.

Expounding the scope of the benzalkonium chloride industry in the food and beverage sector

In essence, the food and beverages industry require suitable disinfecting and sanitizing chemicals for food contact surfaces, to ensure bacteria and other microorganisms are eliminated and the product is not spoilt while in transit or before consumption. Quaternary ammonium compounds such as benzalkonium chloride can counter a wide range of microbes and are applied in appropriate quantities by food producers. The constantly growing demand for packaged food and bottled drinks has made it necessary to tackle all possible threats to health safety and food shelf life, bringing in substantial proceeds for the benzalkonium chloride market. Several reported cases of food-related diseases has notably spurred businesses, government agencies and research organizations to address likely health risks posed by various food-grade chemicals.

Get a Sample Copy of this Report:https://www.gminsights.com/request-sample/detail/3233

Referring to a study undertaken by the University of Veterinary Medicine, Vienna, certain strains of gram-positive Listeria seem to be resistant to quaternary ammonium compounds, including benzalkonium chloride disinfectants, and display quite low sensitivity to them. An estimated 47.8 million cases of foodborne illnesses care recorded in the U.S. every year, indicating the enormous need for enhancing food safety. Europe also witnesses nearly 23 million people suffering due to the intake of unsafe food annually, according to WHO. The benzalkonium chloride market is slated to accrue remarkable gains over the forecast timespan from accelerated efforts by food manufacturers to adopt effective sanitizing and disinfecting practices.

Within the beverage industry, compounds can be used for cleaning milking equipment, bulk tanks and other surfaces that come in contact with organic milk or similar products. Milk and other dairy offerings are witnessing consistent rise in demand and producers are required to clean and sanitize any equipment, storage tanks and packaging before utilization. Benzalkonium chloride products are also available as sanitizers for PET as well as glass bottles in which numerous beverages are sold. As evident, the beverages segment is bound to provide significant revenue prospects to the benzalkonium chloride industry.

In a nutshell, a number of critical applications in the food and beverages segment will fuel the development of the global benzalkonium chloride market, which is anticipated to surpass billion dollar valuation by 2025. Prominent companies outlining the competitive dynamics of the industry include  Dishman group, Jinshan Jingwei Chemical, Manav Aktteva Biopharma LLP, Merck Millipore and Novo Nordisk.

Author NamePankaj Singh

How has growth graph of zero liquid discharge systems market transformed on account of Europe’s environment protection directives & APAC’s emerging economies?

Posted on

The increasing intensity of climate change and the subsequent issue of water scarcity have led to zero liquid discharge systems market gaining substantial significance. Indeed, the system has become an integral component of numerous industrial sectors, consolidating the market into a lucrative investment ground.

U.S. Zero Liquid Discharge Systems Market Size, by End-user, 2014 – 2025 (USD Million)
U.S. Zero Liquid Discharge Systems Market Size, by End-user, 2014 – 2025 (USD Million)

According to a research by the World Resources Institute, climate change is rampant, turning the world’s hottest regions even hotter. Meanwhile, as the planet warms, clouds are moving away towards the poles from the equator, further depriving equatorial regions such as Central America, sub-Saharan Africa and the Middle East of rainwater. According to the United Nation’s UN Water, the issue of water scarcity is being further exacerbated as rapidly expanding urban areas are placing heavy pressure on water resources nearby, further straining the relationship between water demand & world development.

As these challenges continue to proliferate across the globe, the zero liquid discharge (ZLD) process of water treatment is expected to witness a substantial rise in adoption rates. With more and more enterprises looking to purify & recycle wastewater to dampen their impact on the environment, ZLD systems industry is expected to garner commendable traction ahead..

Role of Europe’s environment protection directives on ZLD systems market

In 2018, the European Commission proposed new rules to promote and facilitate water reuse across the European Union for agricultural irrigation. These steps were introduced with the sole purpose of alleviating the pressure of water demands on natural water sources.

The Numbers: According to a recent infographic posted by the European Commission, the challenge currently grips approximately 11% of the European population, severely impacting over 17% of the European Union’s territory.

Get a Sample Copy of this Report https://www.gminsights.com/request-sample/detail/1961

Moreover, the challenge of water scarcity is no longer confined to a select number of regions across Europe and has started to rapidly become a major concern across the EU. In fact, water scarcity & stress is slated to affect approximately 50% of Europe’s river basins by 2030.

The Potential: The European Commission has identified that the EU needs to manage its water resources in a more efficient manner and an effective way to achieve that efficiency is to treat recycled water from ZLD systems as an alternative water supply source. In 2018, the Europe ZLD systems market raised over $1.5 billion in revenues, having treated more than 40,000 million m3 of waste water, however, the continent only reuses 964 million m3 of the treated wastewater.

The potential for additional uptake is quite massive, as the region could reuse more than six times the volume of recycled water that is used currently, presenting a substantial opportunity for the growth of the regional ZLD systems market.

Impact of APAC’s developing economies on ZLD systems market

The Asia Pacific is home to a majority of the earth’s population & houses two of the world’s fastest growing economies; China & India. Apart from these two countries, the region is also home a number of developing nations.

According to a report by China Water Risk (CWR), the adoption of ZLD systems in China is being fueled by the unlikeliest of factors – the nation’s thermal power air pollution reduction process, which produces complex and extremely hard to treat wastewater as a byproduct. Moreover, unless a power plant is air cooled, water is by far the most prominently used cooling solution in China, which accounts for approximately 70% to 80% of wastewater volumes.

Driven by such copious availability of waste water, ZLD systems are gaining considerable traction across many industrial sectors across the nation, providing further growth opportunities for the regional ZLD systems market players.

According a report by Global Market Insights, Inc., propelled by severe environmental challenges and the ongoing economic development of several nations like India and China, the global ZLD systems market is projected to surpass the $9 billion renumeration mark by 2025.

Author NameAkshay Kedari

A succinct outline of the global industrial solvents market in terms of the application landscape: paints & coatings to emerge as a prominent revenue ground

Posted on

The global industrial solvents market is anticipated to make promising gains in the forthcoming years, on account of burgeoning demand for printing inks, paints & coatings, and cosmetics products across the globe. In addition to this, industrial solvents are also widely used in the pharmaceutical sector, impelling the industry share. For instance, pet shampoos utilize solvents to dissolve a medicinal drug for topical treatment, provide moisture, and soften animal hair & skin.

U.S. Oxygenated Solvents Market Size, By Application, 2017 & 2024, (Kilo Tons)
U.S. Oxygenated Solvents Market Size, By Application, 2017 & 2024, (Kilo Tons)

Industrial solvents are often used to dissolve ingredients and empower various solutions & manufacturing processes. They offer additional value in cosmetics, paints & coatings, adhesives, and lubricants because of their high solvency rate. For instance, Isopropyl alcohol is a multi-use solvent, which is often used as disinfectant in homes, and as an industrial solvent to dissolve substances, such as resins and oils, in production processes across various industries. The growth in manufacturing sector coupled with favorable regulatory outlook, especially in emerging economies, would positively favor industrial solvents market growth in the ensuing years.

The paragraphs below explore the growth prospects of the industrial solvents market with respect to the application landscape:

Paints & Coatings

The global paints & coatings market is anticipated to witness an upswing in terms of revenue in the approaching years, due to rising adoption across the building and construction sector. The paints & coatings industry is one of the biggest consumers of industrial solvents, attributable to the capability of solvents to disperse or dissolve the components in paint formation, to create paints of the desired consistency and eliminate globs or clumps. Apart from the construction sector, paints and coatings are widely used in the automobile industry. For instance, glycol ether esters are at times added to certain spray paints to avoid drying up in mid-air. The slow-paced evaporation of this powerful solvent group enables cars and other vehicles to get a smooth and flawless paint application for an appealing and durable finish.

Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/2706

In addition to the factors mentioned above, it is important to note that no single solvent has the capability of dissolving all of the film-forming ingredients employed in contemporary coatings. The application of optimal thinners and reducers is usually needed, which consists of blends of various solvents, wherein each can dissolve one or more ingredients within a given coating formula. This has been leading to increased product usage per application, thereby considerably contributing towards industrial solvents market growth.

Printing Inks

Numerous printing inks, used worldwide to print everything from books to food packs and labels, rely heavily on industrial solvents for accurate application to attain the vivid colors. In printing inks applications, solvents are implemented to regulate viscosity and permit flow without harming printing rollers. As with paints and coatings, solvents advance drying for contemporary fast-paced printing presses.

Printing inks applications have leveraged the potential of industrial solvents in a number of ways. For instance, the use of smudge-resistant ink in newspapers means no more finger staining and illegible print. Speaking of computer printer inks, they dry really very fast and are highly smudge resistant. Thus, the wide application spectrum of printing inks and brisk advancements in ink technology will create a powerful launch pad for industrial solvents market to reach new heights.

Cosmetic and Fragrances

The cosmetic industry relies heavily on industrial solvents to dissolve ingredients and increase the efficiency of products. Industrial solvents are widely used in lotions, shaving creams, face creams, and talcum powders to maintain the consistency of the product. For instance, Ethanol is hugely preferred by perfume companies as their solvent of choice due to its low odor. Indeed, the low boiling point of ethanol allows the solvent to evaporate rapidly and does not let it remain on the skin.

Likewise, acetone or Ethyl acetate is an important ingredient of nail paints and is especially looked upon for its fast-drying potential. Besides, it also finds applications in nail paint removal products, owing to its high solvency characteristic which enables the nail paint to be removed easily from the nail. Amidst this backdrop, it is prudent to mention that industrial solvents market share will soar high in the years to come, because of abundant product demand from cosmetic and fragrances applications.

Having realized the immense potential of the industrial solvents market, prominent companies such as Shell, Arkema, Honeywell, BASF, and Total have made considerable investments in R&D programs and product innovation to serve the evolving consumer demand better. Powered by the rapid expansion of the paints & coatings applications in tandem with growing infrastructure industry, the industrial solvents market is projected to attain commendable gains in the approaching years.

Author NameNikita Chaurasia

North America soy chemicals market to emerge as a pivotal regional contender over 2018-2024, escalating demand for soy-based food products and medicines to fuel the industry expansion

Posted on

Pertaining to the surging importance of soybean pertaining to its many medicinal benefits, soy chemicals market has emerged as one of the most profitable spheres of the healthcare cosmos. Experts assert that the consumption of soy can lead to a reduction in cardiovascular diseases, breast cancer, as well as cosmetic and dermatological problems. In addition, soy injections help patients with diabetes mellitus to improve metabolism. Considering the nutritional benefits of soy, most of the nutritionists have been encouraging the consumption of soy and its food derivatives that has resulted in the demand upsurge for soy-based drugs and food products on a large scale. On these grounds, several medical companies have been developing soybean oil-based medicines, providing a push to soy chemicals market trends.

U.S. Soy Polyols Market Size, By Application, 2017 & 2024, (Kilo Tons)

Nowadays, several restaurants and food companies have been making tall claims about having incorporated heart-healthy oils in their products such as dressings, bottled oils, baked goods, snacks, and dips to attract more consumers who have been trying to reduce the inclusion of saturated fat in their diet. The U.S. is one of the largest producers of soybean, accounting for more than 30 percent of worldwide production.  In America, soybean is one of the most used ingredients owing to its health potential. In this regard, the U.S. Food and Drug Administration (FDA) has been providing suitable support to pharmacies and biomedical companies that have been involved in the development of soybean oil-based medicines for reducing the risks associated with coronary heart disease and cancer.

Get a Sample Copy of this Report:https://www.gminsights.com/request-sample/detail/2973

Recently, the agribusiness and food ingredient company, Bunge North America received an approval from the U.S. FDA for its claim related to the consumption of soybean oil and its connection to coronary heart diseases. With its versatile portfolio, Bunge is continuously striving to disseminate the importance of soybean oil and its health benefits. Moreover, facilitated with in-depth scientific and clinical research, Bunge is looking forward to strengthening its business with strategic acquisitions and joint ventures. The growing North America soy chemicals industry is slated to generate such attractive business opportunities for players such as Bunge over the years ahead. Indeed, driven primarily by Canada, U.S., and Mexico, North America soy chemicals market, claim estimates, will register a CAGR of more than 5% over 2018-2024.

In order to target the leading consumers of soybean and its food products, globally renowned companies have been establishing suitable partnerships to commercialize their activities by reducing import costs. Validating the aforementioned fact, on February 2018, Cargill and Archer Daniels Midland company formed a JV to supply soybean meal and oil across Egypt. This JV has also acquired the crush plant of the Egypt based oil company located in Borg Al-Arab. In addition, Cargill also has been investing to expand its daily crush capacity from 3000 metric tons to 6000 metric tons with which it will decrease the soybean meal imports in Egypt. This strategy will help Cargill to expand its business across Egypt and North Africa to enhance its customer base by supplying affordable, safe, and healthy food. With the adoption of such business tactics, the players in the soy chemicals market are aiming to utilize their existing facilities and infrastructure in order to meet the growing regional product demand.

The increasing popularity of soybean oil and its byproducts among the manufacturers of consumer and industrial products over petroleum and other hazardous ingredients is slated to stimulate the industry trends over the years ahead. In addition to medicinal usage, the deployment of soybean products for manufacturing coatings, plastics, solvents, adhesives, rubber, and lubricants will also have a positive influence on business growth. Driven by the rising number of facility expansions, soy chemicals market size is anticipated to be pegged at USD 44.5 billion by the end of 2024.

Author Name : Sunil Hebbalkar