(I-BusinessNews.Com, June 17, 2020 ) The global technical enzymes market size is projected to grow from USD 1.1 billion in 2019 to USD 1.5 billion by 2026, recording a compound annual growth rate (CAGR) of 4.0% during the forecast period. The increasing trend of environmental concerns in developing countries and advancements of R&D activities for technical enzymes are the major factors that are projected to drive the growth of this market during the forecast period.
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The biofuel industry is estimated to account for the largest share in 2019 in the technical enzymes market.
The biofuel industry is estimated to dominate the technical enzymes market, on the basis of industry, in terms of value, in 2019. Consumer inclination toward an alternative to gasoline for the reduction in harmful auto & industrial emissions has augmented the usage of biofuels in many developed countries. Enzymes have been used for the conversion of biomass into biofuels, as they overcome many drawbacks associated with the use of traditional chemicals as catalysts for biofuel generation. Enzymes are safer substitutes for MTBE (methyl tert-butyl ether), as MTBE is a blending component to oxygenate gasoline and is hazardous to human health.
The starch industry is projected to account for the second-largest share during the forecast period.
The usage of enzymes in starch processing helps them to specifically react with carbohydrate components present in starch to retain moisture more efficiently and increase shelf life. Furthermore, enzymes are able to quickly reduce the viscosity of starch slurries to facilitate further handling and processing. They also play a role in halving the amount of pH chemicals (acidifiers) that are usually used in starch processing, as they help mitigate the pH; this helps in breaking down the large starch molecules into smaller molecules needed for liquefaction of starch.
Amylases have been estimated to dominate the market in 2019.
Amylases are technical enzymes that catalyze the hydrolysis of starch into sugars. As they are one of the main enzymes used in the industry to hydrolyze the starch molecules into polymers composed of glucose units. Amylase breaks down carbohydrates (polysaccharides) into disaccharides and, ultimately, into monosaccharides such as glucose. There are three types—alpha-amylase, beta-amylase, and gamma-amylase; all three types are glucoside hydrolases, which help in the process of starch degradation, by acting on glycosidic bonds to create short-chain sugars. These factors are projected to drive the demand for amylases type of enzymes during the forecast period.
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The Asia Pacific region is projected to be the fastest-growing market for technical enzymes during the forecast period.
The Asia Pacific region projected to grow at the highest CAGR between 2019 and 2026. The increasing demand for technical enzymes in starch and textile & leather industries is projected to create lucrative growth opportunities for manufacturers in the market in the Asia Pacific region. This dominance is majorly due to the change in technological innovations in machinery, synthetic fibers, logistics, and globalization of business. Furthermore, the shift of industrial operations such as textile & leather production from developed nations in North America and Western Europe into the Asia Pacific region over the past decade has boosted the market for technical enzymes.
Key vendors in the global technical enzymes market include BASF (Germany), DuPont (US), Associated British Foods (UK), Novozymes (Denmark), DSM (Netherlands), Dyadic International (US), Advanced Enzymes Technologies (India), Maps Enzymes (India), Epygen Labs (India), Megazyme (Ireland), Aumgene Biosciences (India), Enzymatic Deinking Technologies (US), Tex Biosciences (India), Denykem (UK), MetGen (Finland), and Creative Enzymes (US). These players have broad industry coverage and high operational and financial strength.
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