The global technical enzymes market size is expected to reach US$ 3615 Mn by the end of 2029, finds Future Market Insights. According to the report, Multifunctional properties of specific enzymes in the biofuel, starch, fiber & leather, paper & pulp industries. The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the most accurate analysis of the market.
Technical enzymes are usually used as bulk enzymes in several industries such as pulp and paper, textile, and detergents industries; apart from these industries the technical enzymes are also used in the synthesis of organic products and biofuels. Commercially available technical enzymes used includes amylases, lipases, proteases, xylanases, catalases, and cellulases.
Among these technical enzymes, α-amylases the most versatile enzymes in the sector of industrial enzymes undoubtedly because of the starch abundance, with the uses ranging from the starch conversion to sugar syrups. Apart from that, it is also used for the pharmaceutical industry to produce cyclodextrins. Lipases are used as industrial catalysts and its demand has increased these days.
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It includes in-depth insights into the technical enzymes market. Some of these are:
- The estimated value of the market was at US$ 1890 Mn in 2019. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
- In the forecast period the Asia Pacific region is expected to be the fastest rising market.
- Because of the high sugar demand, enzymes are also used to hydrolyze starch to boost the sugar production process and increase overall efficiency.
- Customer interest towards an alternative to gasoline has increased the use of biofuels in many developed countries to minimize toxic car & industrial emissions.
- The increasing demand for technological enzymes in the starch and textile & leather industries is projected to generate lucrative growth opportunities for manufacturers in the Asia Pacific region.
- In terms of source, the animal segment currently leads the market and is expected to remain dominant through the course of the forecast period.
Restricted Supply Chains Due to COVID-19 will Affect the Growth of the Enzymes Market
The current shutdown has brought the technical enzymes market to a standstill and the curve for recovery will rely on the government’s fiscal stimulus.. Demand for enzymes would decline as a result of higher volatility, increased precautionary behaviour, containment measures, and increased financial costs that decrease purchasing power of consumers. A majority of industries are operating under strict guidelines. Restrictive measures undertaken to prevent the spread of the disease are likely to hamper the overall growth trajectory of these industries. These restrictions are likely to limit the scope of growth for the technical enzymes market as well.
Who is Winning?
Some of the major players of the global technical enzymes market include Koninklijke DSM N.V. (The Netherlands), E.I. du Pont de Nemours and Company (U.S.), BASF SE (Germany), Associated British Foods Plc (U.K.), Novozymes A/S (Denmark), Advanced Enzyme Technologies Ltd. (India), Epygen Labs FZ LLC (UAE), Maps Enzymes Limited (India) and Megazyme Inc. (U.S.) among others. The rising pattern of environmental issues in developing countries and advances in R&D activities for technological enzymes are the main factors that are projected to drive this market’s growth during the forecast period.
Furthermore, mergers and acquisitions continue to be a common strategy among market players. The companies plan to broaden their geographic presence by means of strategic collaborations.
TECHNICAL ENZYMES MARKET TAXONOMY
The global Technical Enzymes market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
- Micro organism
- Textiles & Leather
- Paper & Pulp
- North America
- Latin America
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TECHNICAL ENZYMES MARKET – KEY RESEARCH FINDINGS
- The global technical enzymes market will expand at a CAGR of 4.1% over 2020-2030.
- The market has noticeable demand from the Bio-ethanol industry.
- Micro-organism remains the preferred source; plants to gain gradual traction.
- European market will have comparatively higher growth for the customized premixes market; North America is the market front-runners for the technical enzymes market.
- About FMI:
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