Growth of soy-based chemicals to grow by 7.5% CAGR Until 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. It is expected that the growth of bio-plastics, bio-lubricant and bio-solvent is driven by oil prices fluctuation, high technical substitution potential and superior product quality, such as biodegradability.