U.S. Soy Adds Positive Economic and Environmental Impact

In industrial manufacturing, performance comes first. But the biobased industry proves meeting high-performance standards can still benefit the environment -- and the economy.

According to a recent United States Department of Agriculture report, the biobased industry is a substantial generator of economic activity and jobs -- and it has a significant, as well as positive, impact on the environment.

The report found that in 2017, the biobased products industry:

• Supported 4.6 million U.S. jobs through direct, indirect and induced contributions.
• Contributed $470 billion to the U.S. economy.
• Generated 2.79 jobs in other sectors of the economy for every biobased job.
• Displaced approximately 9.4 million barrels of oil annually.
• Has the potential to reduce greenhouse gas emissions by an estimated 12.7 million metric tons of CO2 equivalents per year.
• Biobased products contain ingredients derived from renewable materials and plants like U.S. soybean oil and are often an alternative to conventional petroleum-derived products.

The versatile chemical composition of soybeans is driving a surge of soy technology. The components make product applications remarkably wide-ranging, from rubber, fiber and coatings to solvents, plastics, lubricants and adhesives.

And specialty soybean oil with higher concentrations of oleic acid remains stable in high-heat conditions, providing functionality in markets that require performance under high-heat conditions, such as synthetic motor oils and automotive lubricants.

Soybean oil is one of the most versatile natural oils. Its molecular structure and fatty-acid profile can be readily modified for many applications.

Knowing that your biobased products positively impact the economy and environment isn't the only perk on the table, though.

Due to their increased sustainability, biobased products and/or their packaging can tout the USDA Certified Biobased Product label, which affords them a few key benefits, including:

• Ability to take advantage of the BioPreferred Program, which:
• Offers resources to businesses with biobased products, including a voluntary labeling process, a catalog of biobased products, training and information on marketing of biobased products in the federal government.
• Allows access to a new customer base. The Federal Acquisition Regulation and Presidential Executive Orders direct federal agencies and their contractors to purchase biobased products in categories identified by USDA.

The label also offers companies access to the increased customer base who are unsure how to identify products with added sustainability claims but are interested in supporting them.