(MENAFN- EIN Presswire) Enzymes For Bioenergy Application market 2023
The report is valuable in highlighting business performance, product portfolio, and strategic moves of market players to showcase the competitive scenario.
PORTLAND, OREGON, UNITED STATES, May 25, 2023 /einpresswire.com / -- Allied Market Research published a report, titled, "enzymes for bioenergy applications market by Source (Microorganisms, plants and Animals), Enzyme Type (Amylases, Lipases, Cellulose, And Others), Reaction Type (Hydrolysis, Transesterification, And Others): Global Opportunity Analysis and industry Forecast, 2021-2031". According to the report, the global Enzymes for Bioenergy Application Market Size was Valued at USD 0.80 billion in 2021 and is Projected to Garner USD 1.6 billion by 2031, registering a CAGR of 6.9% from 2022 to 2031.
Impact of the Russia-Ukraine War:
.Due to the ongoing conflict between Russia and Ukraine, the global enzymes for bioenergy applications market has been positively impacted. This is because the war has caused a disruption in the energy supply, resulting in a significant increase in energy prices worldwide.
.As a result, several countries and regions are now exploring ways to accelerate their transition towards clean energy, while also promoting economic recovery through policy changes.
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The global enzymes for bioenergy applications market is experiencing growth due to several factors, such as the increasing awareness around renewable energy and advancements in biotechnology and enzyme engineering. Government initiatives to support the bioenergy sector are also contributing to this growth. However, the market is facing challenges related to the stability of enzymes. Despite this, there are opportunities for growth in the future, particularly with rising government initiatives to promote renewable energy and the development of economies.
Top Enzymes For Bioenergy Application Companies: -
.Novozymes A/S
.Advanced Enzyme
.Technologies
.BASF SE
.Dyadic International Inc.
.EnzymoCore
.Enzyme Supplies Ltd.
.Noor Enzymes
.Nature BioScience
.Boli Bioproducts
.Antozyme Biotech Pvt Ltd.
Enzymes For Bioenergy Application market segmentation can be done based on several factors, including:
Based on enzyme type, the amylases segment held the highest market share in 2021, accounting for more than two-fifths of the global enzymes for bioenergy applications market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is due to its versatile applications in the production of various types of biofuels. However, the Lipases segment is projected to manifest the highest CAGR of 7.5% from 2022 to 2031, owing to the rise in demand for lipases.
Based on the source, the microorganisms segment held the highest market share in 2021, accounting for more than half of the global enzymes for bioenergy applications market revenue, and is estimated to maintain its leadership status throughout the forecast period. The same segment is also projected to manifest the highest CAGR of 7.2% from 2022 to 2031. This is owing to the efficiency, cost-effectiveness, and sustainability of microorganisms in enzyme production.
Based on reaction type, the amylases segment held the highest market share in 2021, accounting for nearly three-fifths of the global enzymes for bioenergy applications market revenue, and is estimated to dominate during the forecast period. This is owing to its high output yield. However, the transesterification segment is expected to portray the fastest CAGR of 7.3% from 2022 to 2031, owing to the fact that enzymatic transesterification can be used on a wider range of feedstocks compared to conventional methods.
Based on region, North America held the highest market share in terms of revenue in 2021, accounting for more than half of the global enzymes for bioenergy applications market revenue, and is likely to retain its dominance throughout the forecast period. A rise in awareness and consciousness about the adverse environmental effect of fossil fuel and strong research and development infrastructure propel the growth of the segment. However, the Asia-Pacific region is expected to witness the fastest CAGR of 9.7% from 2022 to 2031. This is due to the presence of the world's fastest-growing economies, including China, India, and Indonesia.
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Our Market Research Solution Provides You Answer to Below Mentioned Question:
.Which are the driving factors responsible for the growth of market?
.Which are the roadblock factors of this market?
.What are the new opportunities, by which market will grow in coming years?
.What are the trends of this market?
.Which are main factors responsible for new product launch?
.How big is the global & regional market in terms of revenue, sales and production?
.How far will the market grow in forecast period in terms of revenue, sales and production?
.Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
.How will each segment grow over the forecast period and how much revenue will these segments account for in 2030?
.Which region has more opportunities?
By Region Outlook
. North America
(U.S., Canada, Mexico)
. Europe
(Germany, France, UK, Italy, Spain, Rest of Europe)
. Asia-Pacific
(Japan, China, India, Rest of Asia-Pacific)
. LAMEA
(Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
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