(MENAFN- EIN Presswire) Enzymes For Bioenergy Application Companies
The increase in the awareness of renewable energy & increasing adoption of Enzymes For Bioenergy production contribute toward the growth of the global Market
PORTLAND, OREGON, UNITED STATES, July 11, 2023/einpresswire.com / -- Enzymes act as a catalyst in several biochemical reactions. These enzymes are responsible for controlling or speeding up the reaction, thus providing numerous advantages over conventional chemical processes with respect to process efficiency and sustainability. Thus, enzymes for bioenergy application market have gained popularity owing to its advantages over chemical catalysts. The bioenergy includes biodiesel, biogas, bio-hydrogen, and bioethanol. These bioenergy products are expected to replace the traditional use of non-renewable resources or fossil fuels across multiple industries. Biochemical synthesis of biofuels involves the use of enzymes.
Allied Market Research published a report, titled, " Enzymes For Bioenergy Application 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 was valued at $0.80 billion in 2021 and is projected to reach $1.6 billion by 2031, registering a CAGR of 6.9% from 2022 to 2031.
The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining competitive edge in the market.
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What are the Recent Trends in the Enzymes For Bioenergy Application Market?
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?
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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Allied Analytics LLP
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