The market for technical enzymes is projected to reach ~USD 1.27 Billion by 2021, at a CAGR of about 3.4% from 2016 to 2021. The technical enzymes market is fueled by the growing industrialization, increasing environmental concerns, and focus on cost reduction and resource optimization which has led to a large-scale adoption of technical enzymes for various applications.
Pune, India -- (SBWIRE) -- 05/11/2016 -- The report "Technical Enzymes Market by Type (Cellulases, Amylases, Proteases, Lipases, Other Enzymes), by Application (Bioethanol, Paper & Pulp, Textile & Leather, Starch Processing, Other Applications) & by Region - Global Forecasts to 2021", The market for technical enzymes is projected to reach USD 1.27 Billion by 2021, at a CAGR of 3.4%
Browse 80 market data Tables and 42 Figures spread through 162 Pages and in-depth TOC on "Technical Enzymes Market - Global Forecasts to 2021"
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The report defines and segments the technical enzymes market on the basis of type, application, and region, with analyses and projections of the market size of each of these segments in terms of value. The growing urbanization coupled with industrialization, adoption of advanced technology in production, growing environmental concerns, and producers' concerns over cost-efficiency are the factors driving the demand of technical enzymes. The availability and supply of raw materials and the price war among the industrial players are restraining the technical enzyme market. However, technical enzymes are considered as a potential business opportunity in the next five years, especially in emerging economies.
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Bioethanol projected to be the fastest-growing application of the technical enzymes market during the forecast period
The bioethanol segment has been estimated to lead the market in terms of value mainly due to the large quantity of enzymes used for its production and the growing industrialization, increasing environmental concerns, and producers' inclination towards cost-efficiency and profitability. The paper & pulp application of technical enzymes is expected to grow at a comparatively higher CAGR; it is growing due to the scientific evidence proving that technical enzymes in paper & pulp processing are economically efficient and ecologically beneficial.
Amylases: The most widely used type of technical enzymes
The amylases segment accounted for the largest share in 2015, in the technical enzymes market in terms of value. The cellulases segment accounted for the second-largest share in the technical enzymes market. The lipases segment is projected to grow at the highest CAGR from 2016 to 2021. Growing research and consumer usage, along with the potential economic benefits of technical enzymes to manufacturers are driving the demand for amylases.
Asia-Pacific is projected to be the fastest-growing region in the technical enzymes market
The North American region was the largest market for technical enzymes in 2015. The Asia-Pacific region is projected to be the fastest-growing market for technical enzymes during the forecast period. The market in this region is driven by increasing urbanization, growing disposable income, and advancement of technology. China dominated the Asia-Pacific market for technical enzymes owing to the rapidly growing industrialization and investment in research & development activities. India is projected to be the fastest-growing market in the Asia-Pacific region.
This report studies marketing and development strategies, along with the product portfolio of leading companies. It includes the profiles of leading companies such as BASF SE (Germany), E.I. du Pont de Nemours and Company (U.S.), Associated British Foods Plc (U.K.), Koninklijke DSM N.V. (The Netherlands), and Novozymes A/S (Denmark). Other players include Dyadic International Inc. (U.S.), Advanced Enzyme Technology Limited (India), MAPS Enzyme Limited (India), Epygen Labs FZ LLC (UAE), and Megazyme (Ireland). The key players in the market are focusing on expansions and investments to strengthen their market presence and increase their product portfolio.
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