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Unlocking Growth: Cellulase Market Forecast 2024-2033 Explores Industry Dynamics and Future Applications
Cellulase Market
As per the report, the cellulase market size has grown strongly in recent years. It will grow from $1.95 billion in 2023 to $2.12 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The cellulase market size is expected to see strong growth in the next few years. It will grow to $2.99 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%.
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Increased Demand For Biofuels Fuels Growth In The Cellulase Market
Increased demand for biofuels is expected to propel the growth of the cellulase market going forward. Biofuels are a type of renewable energy derived from organic materials, primarily plant biomass or animal waste. The demand for biofuels is rising due to the increasing need for sustainable and renewable energy sources to reduce carbon emissions and dependence on fossil fuels. Cellulase is used in biofuel production to enable the efficient conversion of abundant and renewable cellulosic biomass into valuable transportation fuels, contributing to the reduction of greenhouse gas emissions and dependence on fossil fuels. For instance, in 2021, according to the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, the global demand for biofuels is set to grow by 41 billion liters, or 28%, over 2021-2026 in the main case. Therefore, increased demand for biofuels is driving the growth of the cellulase market.
Product Innovation In The Cellulase Market
Major companies operating in the cellulase market are focused on developing innovative products, such as high-efficiency cellulase enzymes, to enhance efficiency and sustainability. A high-efficiency cellulase enzyme is a potent biological catalyst that rapidly breaks down cellulose into simpler sugars, enhancing industrial processes in various sectors such as textiles, paper, and biofuels. For instance, in May 2024, Bionetix International, a Canada-based company that specializes in the development and production of natural biological products, launched ECL3000, the first in its new line of enzyme concentrates for manufacturers and formulators. ECL3000 is a high-efficiency cellulase enzyme produced by non-pathogenic fungi, targeting cellulose found in various everyday items like food, clothing, and paper. This enzyme offers benefits across industries such as textile, paper, biofuel, and animal feed processing.
The cellulase market covered in this report is segmented -
1) By Type: Endoglucanase (EG), Cellobiohydrolase (CBH), Beta-Glucosidase (BG)
2) By Source: Fungi, Bacteria, Actinomycetes, Plants, Animals
3) By End Use: Healthcare, Industrial, Food And Beverages, Textile, Pulp And Paper
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Major companies operating in the cellulase market are Archer Daniels Midland Company, BASF SE, Dow Inc., Merck KGaA, Brenntag SE, DuPont de Nemours Inc, Koninklijke DSM N.V., Kerry Group plc, Daicel Corporation, Lenzing AG, Novozymes BioAg Limited, Ashland Inc, Chr. Hansen Holding A/S, Borregaard, Kemin Industries Inc, Genencor International Inc, Amano Enzyme Inc, Codexis Inc, AB Enzymes GmbH, MP Biomedicals LLC, Biocatalysts Ltd, BIO-CAT, Worthington Biochemical Corporation, Dyadic International Inc.
Contents of the report:
1. Executive Summary
2. Cellulase Market Report Structure
3. Cellulase Market Trends And Strategies
4. Cellulase Market - Macro Economic Scenario
5. Cellulase Market Size And Growth
…..
27. Cellulase Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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