New York City, NY, 11 March, 2020/ 24 Market Reports: It is estimated for the global technical enzymes market to reach USD 1.7 billion by 2026 from that of USD 1.2 billion in 2019, witnessing the growth at a CAGR of 4.0% during the forecast period of 2020 to 2026. The increasing trend of environmental concerns in developing countries and advancements of R&D activities for technical enzymes are the factors that are driving the growth of the market during the forecast period.
Biofuel industry to lead the segment in the market during the forecast period
Based on industry, it is estimated for the biofuel industry to lead the segment in the market during the forecast period. For the reduction in harmful auto & industrial emissions, the consumer inclination towards an alternative to gasoline is increasing the growth of the usage of biofuels in the developed countries. As the enzymes overcome many drawbacks associated with the use of traditional chemicals as catalysts for biofuel generation they have been used for the conversion of biomass into biofuels. MTBE, being a blending component to oxygenate gasoline and being hazardous to human health, the enzymes are safe substitutes for MTBE (methyl tert-butyl ether).
Starch industry to witness the growth at a significant rate in the market during the forecast period
In reacting specifically with carbohydrate components present in starch to retain moisture more efficiently and increase shelf life the usage of enzymes in starch processing plays a major role. Also, the enzymes play a major role in quickly reducing the viscosity of starch slurries to facilitate further handling and processing. The breaking down of the large starch molecules into smaller molecules needed for liquefaction of starch is been helped as the starch industry plays a role in having the number of pH chemicals that are usually used in starch processing as they help in mitigating the pH.
Amalyses to lead the segment in the market during the forecast period
Amylases are technical enzymes that catalyze the hydrolysis of starch into sugars. Composed of glucose units, the amylases are one of the main enzymes used in the industry to hydrolyze the starch molecules into polymers. Amylase breaks down carbohydrates (polysaccharides) into disaccharides and, ultimately, into monosaccharides such as glucose. Alpha-amylase, beta-amylase, and gamma-amylase are the three types of glycoside hydrolases which help in the process of starch degradation, by acting on glycosidic bonds to create short-chain sugars. These factors are expected to drive the growth of the segment in the market during the forecast period.
North America to lead the global technical enzymes market throughout the forecast period
The technical enzymes are an environment-friendly and cost-effective alternative to replace the conventional alkaline or conventional acidic catalysts and these benefits of the technical enzymes are driving the growth of the market in North America that has made the region to grow at the highest rate in the market during the forecast period. Biofuel, paper & pulp, textile & leather, starch processing and other industries are the applications for the technical enzymes owing to the advancements in the technology. This factor is driving the growth of the market in the region of North America during the forecast period. Also, the development of novel and superior performing products developed technologies, and global industrialization is driving the growth of the market in the region during the forecast period.
The following are the major objectives of the study:
- To define, describe, and forecast the global technical enzymes market on the basis of product, application and region.
- To provide detailed information regarding major factors influencing growth of the market (drivers, restraints, and opportunities).
- To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall market.
- To analyze the opportunities in the market for key stakeholders and provide details of the competitive landscape for leading market players.
- To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
- To strategically profile the key market players and comprehensively analyze their market shares and core competencies.
- To track and analyze competitive developments such as acquisitions, expansions, new product launches, agreements, and collaborations in the global technical enzymes market.
Critical Questions which the report answers:
- What are the major vendor/manufacturers in the market? What is their growth potential during next decade?
- What are the key revenue generating pockets for global technical enzymes market and their future potential during next decade?
- How competitive landscape is evolving in global technical enzymes market?
