Global Biofuel Enzymes Market - 2021-2028
発行: DataM Intelligence
ページ情報: 英文 180 Pages
The global biofuel enzymes market size was worth US$ XX million in 2020 and is estimated to reach US$ XX million by 2028, growing at a CAGR of XX% during the forecast period (2021-2028).
Biofuels are a sustainable and renewable fuel source mostly created from waste plant and animal debris. Biofuel enzymes are biological catalysts that change and speed up the current reactions, increasing productivity, performance and environmental benefits from biofuels. Biofuel enzymes have numerous uses, including biodiesel, starch/corn-based ethanol, lignocellulosic ethanol, corn/starch-based ethanol and many others.
Enzymes derived from biomass boost the selectivity and efficiency of biofuels. Growing environmental concerns and growing government policies to formulate legislation for biofuel incorporation have become the primary driver of expanding the market for biofuel enzymes.
Growth in end application sectors, such as biodiesel, starch/corn-based ethanol and bio-based ethanol use, is also driving this industry. It has resulted in lowering fuel costs and emissions of CO2. The growth in the market for biological enzymes can be attributed to biofuel enzymes in various industries, including transportation, power, chemical and residential.
Market expansion is expected to be aided by stringent environmental rules and a growing need for vehicles with high fuel efficiency. The automotive and manufacturing sector's increased focus on pollution control and energy-efficient fuel will likely enhance the market growth. The auto industry's continuous growth, combined with rising consumer awareness of Biodiesel additives, is projected to stimulate market growth in the foreseeable future.
Biofuel enzymes market revenue growth will be boosted by ethanol.
The biofuel enzymes market's revenue is predicted to soar due to the rising demand for greater efficiency and specificity. Increasing government rules and growing environmental concerns for establishing legislation on biofuel blending have proven to be a significant driver in the burgeoning market for biofuel enzymes.
With an increase in bio-based ethanol and biodiesel, the global revenue growth for biofuel enzymes will be further stimulated. Cellulases and associated enzymes are expected to boost the growth of the biofuel enzymes market as consumers switch to ethanol production using cellulases.
Growing ecological concerns and expanding government initiatives to create a blend of biofuels
Growing ecological concerns and expanding government initiatives to create a blend of biofuels have become the main drivers of the growth of the global market for biofuels enzymes. Biofuels are favored for the future because of the impending depletion of nonrenewable resources and the benefits to the environment they provide.
The growing use of bio-based ethanol and biodiesel contributes to lower fuel costs and reduced carbon dioxide emissions, supporting revenue and growth in the biofuel chemicals market. Growth in the biofuel enzymes market is expected to be driven by consumer preference for celluloses and associated enzymes in ethanol production.
The biofuel enzyme market will be slowed due to the high costs of enzymes.
High enzyme costs for lignocellulosic biofuel manufacturing are factors limiting the market growth.
The advent of the COVID-19 pandemic has had a significant influence on the global market for biofuel enzymes. In nearly all major countries, economic development was slowed because of the COVID-19 epidemic, which affected consumer purchasing habits.
There has been a tremendous impact on the supply chain of multiple businesses across the globe due to the lockdown that has been applied across various countries, exacerbating the supply-demand mismatch. Biofuel enzyme production will be slowed due to a lack of raw materials, which would harm the market's growth.
By application, the biofuel enzymes market is segmented into biodiesel, starch/corn-based ethanol, lignocellulosic ethanol and others.
Rising preference for biodiesel over conventional fuels
With an increasing preference for biodiesel over conventional fuels in automobiles and power generation, this segment is expected to dominate the market for biofuel enzyme applications. Because biodiesel can meet existing automotive engine standards, it is expected to impact product demand positively. Government rules requiring cleaner fuels are also expected to support industrial growth.
The demand for biodiesel is likely to rise because of the diminishing supply of fossil fuels and the necessity of increasing the share of renewable sources in the energy mix for long-term growth. Unlike other biofuels, biodiesel may be generated in existing diesel-producing facilities, which is projected to influence current diesel production facilities significantly.
In addition, the agricultural sector's growing mechanization is expected to improve product demand. Most of the energy demand for road transportation is met by biofuels (ethanol and biodiesel). Blending mandates in major economies and cleaner fuel consumption globally promote demand for bioenergy in transportation.
Rising ethanol output in U.S.
North America has the largest market and is predicted to grow at the fastest rate during the forecast period due to rising ethanol output in U.S. and rapid biofuel usage in Canada. U.S. is the world's greatest ethanol producer, both for personal consumption and as a transportation fuel, averaging around 13.9 million gallons (or 53 million liters) per year. Because corn and starch are low-yield feedstocks, most ethanol generated comes from these sources.
Biofuels have provided solutions to issues including dwindling fossil fuels, carbon emissions and the need to fulfill environmental standards while creating profitable new business prospects for the region. With bioenergy for transportation purposes, the region is making great strides toward moving away from gasoline in favor of cleaner biofuels. It has had a significant impact on the growth of the biofuel enzymes market.
To stay ahead of the competition, the industry's top firms are investing in R&D. The leading firms in the biofuel enzymes market are concentrating on growing their global footprint through acquisitions and mergers and diversifying their product range to match the dynamic trends of the global industries.
Companies like A.B. Enzymes GmbH, Codexis Inc. Du Pont de Nemours & Co., Logen Corporation, NextCAT Inc., Noor Creations, Novozymes A/S, Royal DSM NV, Verenium Corporation and Agrivida Inc. are the prominent players in this industry.
A.B. Enzymes GmbH
Overview: A.B. Enzymes GmbH was founded in 1907 as part of Rohm and owned by Associated British Foods since 1999. The first industrial enzyme for the leather industry was invented in 1907, the first enzyme for the food industry in 1934 and the first enzyme for the milling and baking business was launched in 1958 by A.B. Enzymes. The company creates enzymes for various industries, including food, animal feed and industrial use.
Product Portfolio: The company's product line includes food-grade enzymes for baking and fruit juice processing, enzymes for animal feed and technical applications like pulp and paper, textiles and laundry detergents.
Key Developments: The relocation of A.B. Enzymes' warehouse and distribution center to Kerry EAS Logistics, Ltd. at 3088 Hangtang Road, Fengxian District in Shanghai has been completed successfully, according to the company. Kerry EAS Logistics and A.B. Enzymes already have a strong long-term partnership and the new location in Shanghai's Fengxian District will boost the Chinese supply network. Refrigerated and temperature-controlled storage rooms will be expanded, giving the organization more space now and in the future.
The global biofuel enzymes report would provide access to an approx. 52 market data tables, 43 figures and 180 pages.
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