Biofuel Enzymes Market Size, Share, Growth Report 2030

The global Biofuel Enzymes market is slated to accrue revenue worth nearly 1,660.6 (USD Million) by 2026 and record the CAGR of nearly 9.25% over the period from 2020 to 2026. The report offers assessment and analysis of the Biofuel Enzymes market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, sales estimates, opportunities, evolving trends, and industry-validated data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Million).

Introduction

Plants with the use of the solar energy and carbon produces carbohydrates through photosynthesis. Furthermore, the carbohydrate such as lignocellulose in plants have huge potential for converting into biofuels through use of enzymes that are thermally stable. Moreover, these thermostable enzymes act as a catalyst in biofuel production through depolarizing of lignocellulosic feedstock. The biofuel derived in this way has become a key renewable energy resource and has reduced the dependability on fossil fuels along with minimizing the GHG emissions, thereby contribution helping in controlling the environmental degradation.

Furthermore, biofuel enzymes are utilized in production of two commercial biofuels including bioalcohols and biodiesel. For instance, bioalcohols like ethanol, methanol, and butanol are produced through microbe fermentation of sugar also refereed as first gen biomass or second generation biomass known as lignocellulosic biomass. Apart from this, biodiesels that are used as a substitute for petroleum fuels are also produced through the use of enzymes. The common methods involved in the microbial fermentation for manufacturing of biodiesel encompasses enzyme expression involved in biodiesel precursor production like triglycerides & fatty acids along with gene deletion for fatty acid degradation.  

Market Growth Dynamics

Massive energy requirement and depleting fossil fuel reserves has given rise to the need for alternate fuel source and this has catalyzed the surge of biofuel enzymes market. Apart from this, the huge industrial growth potential can be attributed to conversion of biomass to biofuel with enzymes acting as catalyst. Moreover, biofuels derived in this manner are the ideal & clean energy source as they produce environment friendly as well as sustainable form of energy.

Furthermore, biofuels like biodiesel, biogas, and bioethanol, derived through biomass conversion are renewable energy sources and are termed as carbon dioxide neutral as they contribute remarkably towards reduction of carbon emissions in atmosphere. Apart from this, burning of biofuels produces low Sulphur dioxide and carbon dioxide particles as compared to fossil fuels or crude oils. All these aforementioned advantages offered by the biofuels produced by using the enzyme will generate humungous market demand in the near future.

Additionally, biofuels like ethanol have high octane rankings and their carbon footprints are lower as compared to gasoline after combustion. Reportedly, use of first-gen biofuels in vehicles have minimized GHG emissions from these vehicles. Second-gen biofuels utilizing lignocellulose and large part of plant material has assisted in contributing notably towards the renewable energy trends, thereby steering the market size.

For the record, cellulosic feedstock are easily accessible through farming & other sources in the countries like the U.S. and fulfill their fuel energy requirements as well as their demand for green energy. Moreover, the energy present in plant biomass exceeds the large-scale human utilization of energy, thereby further propelling the biofuel enzymes demand for the energy production. This, in turn, will embellish the business landscape in the foreseeable future.

North America To Contribute Majorly Towards Overall Market Revenue By 2026

The regional market growth over the forecast timeline is due to massive use of the biofuels in the countries like the U.S. Strict enforcement of laws by the government as a result of need to curb GHG emissions in environment in an effort to reduce global warming to a large extent will drove the regional market trends.

Key players influencing the market growth include Du Pont de Nemours & Co., Novozymes A/S, Codexis Inc., NextCAT Inc., AB Enzymes GmbH, Noor Creations, Royal DSM NV, Logen Corporation, and Verenium Corporation.

The global biofuel enzymes market is segmented as follows:

By product:

• ndustrial Lipases
• Amylases
• Xylanase
• Cellulose

By application:

• Starch/Corn Based Ethanol
• Biodiesel
• Lignocellulosic Ethanol

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa