Biofuels Enzyme Market Poised to Grow Substantially Owing to Rising Government Initiatives Encouraging Use of Eco-friendly Fuels

Transparency Market Research recently published a research study based on the global biofuel enzymes market. The publication presents an executive-level blueprint of the market discussing in detail factors triggering the growth of the market together with analyzing the factors likely to inhibit the market. The report is titled “Biofuel Enzymes Market – Global Industry Size, Market Share, Trends, Analysis And Forecast, 2012 – 2018”. It collates market data obtained from several industrial sources with the help of tools such as Porter’s five forces analysis.

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According to the findings of the report, the global biofuel market is likely to grow at a healthy CAGR of 7.6% between 2013 and 2018. After thorough research, the report predicts that the bio-fuels enzymes market, which was worth US$1021.9 million in 2011, will reach US$1,653.1 million by the end of 2018. North America presently dominates the market, however, over the forecast period Asia Pacific is expected to emerge as the most lucrative market for biofuel enzymes.

Expansion of the end-use markets has significantly contributed to the increase in the consumption of bio-based ethanol and biodiesel. In addition, high degree of awareness pertaining to sustainability issues and changing economics of fossil fuels have forced governments to intervene in order to curb the unbridled use of hazardous and environmentally harmful fossil fuels. Therefore, according to the report, environmental legislations imposed by governments will remain the primary growth driver of the biofuel enzymes market. On the basis of product types, the report segments the biofuel enzymes market into industrial lipases, amylases, and others. Amylase has emerged as the fastest growing segment of the market owing to its high resistant power, which enables it to withstand a wide range of temperature and pH level (acidity) variations. The publication predicts a compound annual growth rate of 8% for amylases between 2013 and 2018. The market for amylases can be further subdivided into industrial proteases, enzymes, and cellulose. The market for industrial proteases is expected to boast an 8.7% CAGR during the forecast period.

Of the major geographical segments, North America leads the global market for biofuel enzymes with an expected 7.8% CAGR from 2013 to 2018. However, in the foreseeable future, Europe and Asia Pacific are projected to witness robust growth in terms of demand for biofuel enzymes. The European Union has enhanced its efforts to encourage the use of bioenergy for transportation, which is the primary factor driving the demand for biofuel enzymes in the region. Meanwhile, low-cost structure of the biofuel enzyme market in China is expected to boost the biofuels enzyme market in Asia Pacific.

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In order to present a detailed competitive analysis of the market, the report profiles leading players such as NextCAT Inc, Verenium Corporation, AB Enzymes GmbH, Noor Creations, Logen Corporation, Royal DSM NV, Du Pont de Nemours & Co., Novozymes A/S, Codexis Inc.

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This release was published on openPR.