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Textile Enzyme Market Trends Key Industries and Emerging Markets
Textile Enzyme Market
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According to an Allied Market Research report, the global textile enzyme market was valued at $672.3 million in 2020 and is projected to reach $1.22 billion by 2030, growing at a healthy CAGR of 6.3% from 2021 to 2030. This comprehensive report delves into key investment opportunities, winning strategies, growth drivers, market estimations, competitive landscape, and emerging trends shaping the industry.
Market Drivers and Opportunities:
The expansion of textile manufacturing and the significant advantages associated with textile enzymes are propelling market growth. These enzymes enhance fabric quality, improve process efficiency, and support sustainable production methods. However, the relatively high cost of textile enzymes poses a challenge, slightly restraining growth. Still, increasing adoption of enzymes in fabric designing and bio-polishing is expected to unlock lucrative opportunities ahead.
Market Segmentation Insights:
By Type: Cellulase dominated the market in 2020, accounting for nearly one-third of the total share. Meanwhile, amylase is projected to grow at the fastest CAGR of 7.1% over the forecast period.
By Application: Bio-polishing held the largest share in 2020, comprising over one-fourth of the market. The desizing application segment is expected to witness the highest growth rate, with a CAGR of 7.0% from 2021 to 2030.
By Region: Asia-Pacific led the market in 2020 with close to half of the global share and is poised to maintain its momentum with the fastest CAGR of 6.6% by 2030. Other regions analyzed include North America, Europe, and LAMEA.
Competitive Landscape:
Key players shaping the textile enzyme market include BASF SE, E.I. du Pont de Nemours, Genotek Biochem., Koninklijke DSM N.V., Refnol Resins & Chemicals Ltd., AB Enzymes, Tex Biosciences Pvt. Ltd., Lumis, Maps Enzymes Ltd., and Novozymes A/S. These companies actively pursue strategies such as partnerships, expansions, collaborations, and joint ventures to strengthen their market positions.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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