Global Biofuel Enzymes Market Outlook– Demand and Main Drivers
Biofuel enzymes are dominantly used in the advanced biochemical processes for the production of biofuels. This catalyst has better efficiency and low environmental impacts as compared to other conventional methods of producing biofuels. In the report, “Global Biofuels Enzymes Market Research Report- Industry Analysis, Size, Share, Growth, Trends and Forecast” added by DecisionDatabases.com the future market trends and growth scope of biofuel enzymes market is elaborately discussed.
Over the past few years, an increased demand for biofuels has led to the incorporation of enzymes in the production process, in order to enhance the quality of the product and to overcome the shortcomings related to the usage of traditional chemical catalysts as well. Biodiesel production with the use of an enzymatic catalyst is less energy intensive and more eco-friendly. In addition, the utility cost of enzymatic hydrolysis for the bioethanol production is much lower as compared to other alternative methods due to an incorporation of fewer treatment steps & working efficiently at mild conditions.
The growing demand for biodiesel and increasing adoption of ethanol-corn based fuels are major growth drivers, which are expected to fuel market demand over the forecast period. Furthermore, rising awareness about using environmental-friendly products is anticipated to open new growth avenues over the coming years. Growing need for an alternative source of energy other than conventional fossil fuel is increasing day by day, which in turn will spur the global energy consumption across the globe. Biofuel enzymes have emerged as one of the vital feedstock for the production of biofuels and are projected to witness a substantial demand in the near future due to its various advantages such as non-toxicity, bio-degradability and being nature friendly. However, the high cost of the product is a key concern, which can negatively impact the growth of the market in the forthcoming years.
The global market has been product into amylases, industrial lipases, and segmented based on others. Furthermore, the market has been segmented based on application into biodiesel, starch/corn based ethanol, lignocellulosic ethanol and others. Lignocellulosic ethanol is a leading application segment and is estimated to witness a double-digit growth in the study period on account of consumer’s rapid shifting preference from starch-based ethanol to cellulosic ethanol due to low-cost, easy production process of the cellulosic ethanol with the usage of novel enzymes globally.
North America is a major market and is projected to continue its dominance during the forecast period owing to the wide availability of novel enzymes and production techniques along with favorable government support & aid in the region. The European market is also expected to grow at a considerable rate over the forecast period on account of rising government initiatives to mandate biofuel usage and increasing product launching & development in the area.
The major industry players include AB Enzymes GmbH, Codexis Inc., Du Pont de Nemours & Co., Logen Corporation, NextCAT Inc., Noor Creations, Novozymes A/S, Royal DSM NV and Verenium Corporation.
In June 2011, Genencor has launched a leading enzyme product to accelerate the cellulosic biofuel production globally.
In Oct 2012, Novozymes A/S, a Danish biotech company has launched the enzyme “Avantec”, to enhance the biofuel production from the same amount of corn.
In Oct 2015, Novozymes has introduced a new enzyme for biofuel production, aimed at better sales growth and market share in the U.S. market.
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