Methyl Soyate Market Foreseen to Grow Exponentially by 2024

Methyl soyate is a biobased solvent made from soybean oil. It is an excellent replacement for petrochemical solvents. Methyl soyate is a golden-clear fluid with mild butter-like odor. It is also known as methyl esters of soybean oil, palm methyl ester, SME, and soybean oil methyl ester. It offers numerous advantages over traditional solvents. 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 used in the cytosol process, which is a procedure used in the removal and recovery of spilled crude oil, generally from coastal and inland spill sites. Methyl soyate is commonly used as biodiesel, specifically in North America. It is a non-ozone-depleting chemical, which is readily biodegradable. It leads to low level of VOCs. Methyl soyate can be used to formulate various types of products. It provides effective solvency with Kauri-butanol (KB) value of 58. This high Kauri-butanol value can potentially swell synthetic and natural rubber when used in excess of 5% in formulae. Methyl soyate is also compatible with other organic solvents. Methyl soyate is primarily used as biodiesel. As an alternative fuel, biodiesel can substitute for petroleum diesel without engine modifications. Methyl soyate can be used in place of more expensive and less environmentally-friendly organic solvents such as glycol ethers and Tridecanol (TDA).

The global methyl soyate market can be segmented based on application and region. In terms of application, the methyl soyate market can be divided on the basis of industrial solvent and others. In industrial solvents, it finds application in parts cleaners, carrier solvents, and resin removers. Other applications include car care products, paint strippers, and hand cleaners. Methyl soyate is also used as carrier solvent, despite being an ingredient in cleaners and strippers to replace chlorinated or petroleum products.

Rise in awareness about various benefits of methyl soyate as bio solvent and increase in environmental concerns are expected to propel the market during the forecast period. Methyl soyate is proving to be an ideal alternative for chemical-laden cleaners and solvents. Development and commercialization of biobased products is rapidly expanding owing to the increase in number of government regulations and demands for safe, healthy, and environmentally-friendly alternatives for terpene or petrochemical based solvents and cleaner/degreasers containing butyls.

Based on region, the methyl soyate market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the dominant region of the methyl soyate market due to the rise in number of restrictions on various chemicals for emission of VOCs. The market in Asia Pacific is anticipated to witness exponential growth during the forecast period owing to the rise in demand for methyl soyate in paints & coatings and cosmetic & personal care industries. Methyl soyate possesses low toxicity and emits low volatile organic VOCs vis-à-vis conventional chemical solvents. This, methyl soyate is extensively used in paints and coatings and cleaning products. The methyl soyate market in India and China is estimated to expand significantly, due to rapid industrialization and high disposable income of people in these countries. The methyl soyate market in Latin America is projected to expand at a fast pace in the near future, owing to the growth in cosmetics and personal care industries

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Prominent players operating in the methyl soyate market include BASF SE, Stepan Company, Cargill, Graham Chemical Corporation, Vertec BioSolvents, Kerley Ink, and Unicon Fibro Chemicals Pvt. Ltd.

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