Biofuel Enzymes Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Product (Amylases, Industrial Lipases, Others), By Application (Biodiesel, Lignocellulosic Ethanol, Starch/Corn-based Ethanol, Others), And By Geography - Forecasts From 2019 To 2024

Biofuel Enzymes market is projected to grow at a CAGR of 9.05% to reach US$1,519.725 million by 2024, from US$903.772 million in 2018. Growing environmental concerns and stringent government regulations and policies for blending biofuels are significantly driving the demand for biofuel enzymes. Growing global biodiesel consumption and bio-based ethanol owing to strict carbon dioxide emission norms are also fueling the growth of the biofuels enzymes market. Commercialization of lignocellulosic ethanol holds great potential for the growth of the biofuels enzymes market in the coming years.

Furthermore, rising investments in R&D to develop low-cost enzymes will also propel the growth of the biofuels enzymes market during the forecast period. Geographically, the biofuels enzymes market is segmented as North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. North America and Europe hold a significant market share on account of stringent environmental regulations in these regions.

This research study examines the current market trends related to demand, supply, and sales, in addition to recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.

Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases, and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top-down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the Biofuel Enzymes value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.

Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining a faster and more efficient understanding of the Biofuel Enzymes market.

Major industry players profiled as part of the report are DuPont, Iogen Corporation, Novozymes, Codexis, Inc., and MetGen among others.

Biofuel Enzymes Market Scope:

Segmentation

Biofuel Enzymes market has been analyzed through the following segments:

By Product

Amylases

Industrial Lipases

Others

By Application

Biodiesel

Lignocellulosic Ethanol

Starch/Corn-based Ethanol

Others

By Geography

North America

USA

Canada

Mexico

Others

South America

Brazil

Argentina

Others

Europe

United Kingdom

Germany

France

Italy

Others

Middle East and Africa

Saudi Arabia

UAE

Israel

Others

Asia Pacific

China

Japan

South Korea

Australia

India

Others

Frequently Asked Questions (FAQs)

Q1. What will be the biofuels enzymes market size by 2024?
A1. The biofuels enzymes market is projected to reach a total market size of US$1,519.725 million by 2024.

Q2. What is the size of the global biofuels enzymes market?
A2. Biofuel Enzymes Market was valued at US$903.772 million in 2018. 

Q3. What are the growth prospects for the biofuels enzymes market?
A3. The global biofuels enzymes market is projected to grow at a CAGR of 9.05% over the forecast period.

Q4. What factors are anticipated to drive the biofuels enzymes market growth?
A4. Growing global biodiesel consumption and bio-based ethanol owing to strict carbon dioxide emission norms are also fueling the growth of the biofuels enzymes market.

Q5. Which region holds the largest market share in the biofuels enzymes market?
A5. North America and Europe hold a significant share of the biofuels enzymes market on account of stringent environmental regulations in these regions.