Global Biofuel Enzymes market is slated to accrue revenue worth nearly 1,660.6 (USD Million) by 2026 and record the CAGR of nearly 9.25% over the period from 2020 to 2026.
New York, United States - October 29, 2020 /MarketersMedia/ —
According to analysts from Zion Market Research, the global biofuel enzymes market is predicted to grow at a CAGR of about 9.25% and is estimated to attain USD 1,660.6 million by the end of 2026. The rising environmental concerns and strict administrative policies for the blending of biofuels are considerably boosting the demand for biofuel enzymes. The increasing consumption of biodiesel and bio-based ethanol due to strict carbon dioxide emission regulations is also stimulating the growth of biofuels enzymes market. The commercialization of lignocellulosic ethanol has a great possibility for the development of biofuels enzymes market in the future. The surging investments in research & development to advance the low-cost enzymes will also impel the expansion of biofuels enzymes market in the forecasted period.
Some of the prominent players in the market are Du Pont de Nemours & Co., Codexis Inc., AB Enzymes GmbH, Royal DSM NV, Logen Corporation, Noor Creations, NextCAT Inc., Novozymes A/S, and Verenium Corporation.
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Augmenting Environmental Concerns & Government Policies To Boost The Global Biofuel Enzymes Market
The augmenting environmental concerns and improved administration policies to form legislations for the mixing of biofuels have turned out to be the major driver factor in expanding the market for biofuel enzymes. Additionally, this market is determined by development in end application markets for example, the growing utilization of biodiesel and bio-based ethanol that has resulted in the reduction of cost for fuel and carbon dioxide emissions. Various segments such as chemical, transport, power, agriculture, and domestic, have begun using these biofuel enzymes in their manufacturing line, therefore, causing the expansion in the biological enzymes market. The future opportunities in this market are the development of low-cost enzymes for lignocellulosic biofuel, commercialization of lignocellulosic ethanol, and the rapid progress in the U.S. market owing to the mandatory practice of mixing of biofuel.
The global biofuel enzymes market is bifurcated on the basis of product, application, and regional analysis. Based on the product, the market is divided into industrial lipases, amylases, xylanase, and cellulose. Based on the application, the market is divided into starch/corn based ethanol, biodiesel, and lignocellulosic ethanol.
The Asia Pacific And Europe Anticipated To Witness Major Growth In The Global Biofuel Enzymes Market
Based on the geographical analysis, the global biofuel enzymes market is divided into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. The market in Europe and North America showed a fast growth for biofuel enzymes owing to a surge in the demand for biofuels. The main challenges in this region are depleting natural resources, greenhouse emissions, and a requirement to fulfill Kyoto forms are met by biofuels and this have resulted in the profitable growth of biofuel enzyme market. The prospect growth of this market is likely to be strong across the Asia Pacific and European regions. The market in the Asia Pacific has proved to be the most striking market for biofuel enzymes as a result of its low-cost structure. The intensifying use of ethanol-based fuels globally has also led to the biofuel enzymes market growth.
The global biofuel enzymes market is segmented as follows:
Based on the product:
Based on the application:
Starch/Corn Based Ethanol
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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