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 of biofuels are significantly driving the demand for biofuel enzymes. Growing global biodiesel consumption and bio-based ethanol owing to strict carbon dioxide emission norms is also fueling the growth of biofuels enzymes market. Commercialization of lignocellulosic ethanol holds a great potential for the growth of biofuels enzymes market in the coming years. Furthermore, rising investments in R&D to develop low-cost enzymes will also propel the growth of biofuels enzymes market during the forecast period. Geographically, biofuels enzymes market is segmented as North America, South America, Europe, Middle East and Africa, and 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 the demand, supply, and sales, in addition to the 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 faster and 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 has been analyzed through following segments:
Middle East and Africa