Dublin, Oct. 10, 2022 (GLOBE NEWSWIRE) -- The "Biofuel Enzymes - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Biofuel Enzymes Market to Reach $1.3 Billion by 2026
Global Biofuel Enzymes market is projected to register healthy growth over the near-to-long term. The market, estimated at US$1 Billion in 2022 is projected to reach US$1.3 Billion by 2026, registering a compounded annual growth rate (CAGR) of 7.3% over the analysis period.
The global production of biofuels falls into three primary categories: ethanol, biodiesel, and hydro treated vegetable oil (HVO). Ethanol, produced from starchy feedstock (corn, wheat, cassava) and sugary feedstock (sugarcane, molasses, beets) is blended with petrol. Biodiesel, produced from non-edible agricultural material such as oil seeds, is blended with diesel. HVO or green diesel is emerging as an attractive alternative to biodiesel lately, with its primary advantage being chemical equivalence to petroleum diesel and thus its usage in diesel engines with no modification.
United States represents the largest regional market for Biofuel Enzymes, accounting for an estimated 37.8% share of the global total. The market, estimated at US$384.7 Million in 2022 is projected to reach US$587.1 Million by the close of the analysis period. The United States is forecast to emerge as the fastest growing regional market with a CAGR of 8.0% over the analysis period. The market is set to maintain its growth momentum led by improving domestic fundamentals, and other unique growth drivers.
Growth in the market will continue to be driven by surging demand for biodiesel, a clean and increasingly popular alternative for diesel. The increasing need for higher product specificity and productivity, combined with escalating environmental concerns and intensified government efforts for framing regulations with respect to biofuel combinations is helping the biofuel enzymes market grow.
Additional factors driving biofuel enzymes growth include increasing use of biodiesel and bio-based ethanol, which not only minimize fuel cost but also carbon dioxide emissions, and greater customer transition towards the production of ethanol using cellulases and associated enzymes. Other important stimulants include greater demand for higher-efficacy enzymes-based pharmaceuticals and increased awareness about the application of biofuel enzymes in protein engineering technology.
Amylase Segment to Reach $504 Million by 2026
Mostly sourced from plants and bacteria, amylase is a mainstream enzymatic solution for manufacture of sugar-based biofuels. Amylase ferments sugars into alcohol such as ethanol, butanol and propanol etc., thus making them useful in fuel applications. In fact, Amylase is the most commonly used biofuel enzyme for manufacture of fuel ethanol, the widely used biofuel in the world followed by biodiesel.
Compared to other enzymes, amylase has high resistant power, which allows the enzyme to endure an array of temperature, pH and acidity levels during feedstock conversion into fuel. Global market for Amylase is estimated at US$375.6 Million in 2022, and is projected to reach US$504 Million by 2026 reflecting a compounded annual growth rate of 7.0% over the analysis period.
United States constitutes the largest regional market for Amylase segment, accounting for 36.5% of the global sales. United States is poised to register the fastest compounded annual growth rate of 7.5% over the analysis period to reach US$205.7 Million by the close of the analysis period.
What`s New for 2022?
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to the digital archives
- Complimentary updates for one year
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Biofuels in the Global Fuel Mix
- Biofuels: An Introduction
- Factors Driving the Shift towards Biofuels
- Impact of Covid-19 and a Looming Global Recession
- 2020 Marked as a Year of Disruption & Transformation
- Impact on Clean Technologies
- COVID-19 Dampens Biofuel Consumption
- Witnessing a Tough Year, Biofuel Producers Seek Inclusion in COVID-19 Stimulus Relief Package
- Global Biofuel Production Unlikely to Stay on Subsistent Levels and Bounce Back Quickly
- Biofuel Enzymes - Global Key Competitors Percentage Market Share in 2022 (E)
- Biofuel Enzymes: An Introduction
- Biofuel Enzymes Vs Chemical Catalysts
- Benefits of Biofuel Enzymes
- Types of Biofuel Enzymes
- Market Outlook
- Regional Market Review
- Biofuels Production Scenario
- Global Biofuel Production (in Billion Liters): 2019 and 2020
- Top Biofuel Producing Countries in 2019
- Global Fuel Ethanol Production by Country: 2019
- Global Fuel Ethanol Production for 2019
- Competition
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 45 Featured)
- AB Enzymes GmbH
- Advanced Enzyme Technologies Ltd.
- Agrivida, Inc.
- BASF SE
- CLEA Technologies B.V.
- DuPont de Nemours, Inc.
- Enzyme Supplies Limited
- Metgen Oy
- Noor Enzymes Pvt. Ltd.
- Novozymes A/S
- Royal DSM NV
3. MARKET TRENDS & DRIVERS
- Expanding Role of Renewable Fuels in the Global Energy Mix Reflects Opportunities for Biofuels
- Biofuel Remains an Indispensable Element of Inclusive Clean Energy & Susceptibility Initiatives
- Superiority of Enzyme-based Production over Conventional Method Drives Adoption
- Uptrend in Advanced Biofuels Favors Market Growth
- First Generation Vs Second Generation Biofuels: A Snapshot
- Availability of Biofuel Feedstock & Policies to Drive Biofuel Output
- Favorable Biofuel Blend Mandates & Blend Targets Offer Opportunities
- Growth in Cellulosic Biofuels Demand to Underpin Enzymes Sales
- Cellulosic Biofuels Vs Conventional Biofuels and Petroleum
- Improving Economics of Cellulosic Biofuel Production Augur Well
- Switchgrass: Potential Feedstock in Advanced Biofuel Production
- Amylases Continue to Sustain Demand in Fuel Ethanol Production Led by Myriad Benefits
- Enzymatic Production of Biodiesel from Low Quality Oils Gathers Steam
- Rising Demand for Ethanol as Fuel Spurs Market Prospects
- Increasing Trend towards Ethanol Blending with Gasoline Fuels Market Prospects
- Global Push Away from Fossil Fuels and increasing Demand for Alternate Fuels in Automotive Industry Offers Opportunities for Growth
- Flex-Fuel Vehicles Drive Demand of Biofuels
- Aviation Biofuels to Widen Growth Prospects
- Ongoing R&D Efforts to Strengthen Future Growth
- Algae Enzyme to Accelerate Biofuel Production
- Genetic Engineering Yields Bio-Factory for Enzyme Cocktail to Aid Biofuel Synthesis
- Novel Enzyme Extraction Technique Opens up New Avenues for Cost-Efficient, Enzyme-based Biodiesel Synthesis
- Use of Protein Crystals for Trapping Enzymes
- Fungal Species Exude Enzymes with Similar Functional Characteristics
- Copenhagen Chemists Evaluate Role of LPMO Enzymes in Cellulose Breakdown
- Reserachers Develop Enzyme Processing VFD Technology
- Tokyo Researchers Study CBAP Enzyme Mechanism in Biofuel Production
- Limitations of Biofuel Enzymes
- Issues & Challenges Hindering Growth in Biofuels Market
- High Production Costs Deter Global Adoption
- Established Image and Wider Availability of Petroleum-based Fuels
- Growing Share of Natural Gas in the Energy Mix
- Rising Importance of Electric Vehicles
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/xyhx96
