Technical Enzyme Market to Reach $1.27 Billion by 2021

MarketsandMarkets, Pune India, has available a new report titled Technical Enzymes Market by Type (Cellulases, Amylases, Proteases, Lipases, Other Enzymes), Application (Bioethanol, Paper & Pulp, Textile & Leather, Starch Processing, Other Applications), and by Region—Global Forecasts to 2021. The report projects the market to reach $1.27 billion by 2021, at a CAGR of 3.4%.

Browse online 80 market tables and 42 42 Figures spread through 162 Pages and in-depth TOC.

 

The report defines and segments the "Technical Enzymes Market" on the basis of type, application, and region, with analyses and projections of the market size of each of these segments in terms of value. 

The growing urbanization coupled with industrialization, adoption of advanced technology in production, growing environmental concerns, and producers' concerns over cost-efficiency are the factors driving the demand of technical enzymes. The availability and supply of raw materials and the price war among the industrial players are restraining the technical enzyme market. However, technical enzymes are considered as a potential business opportunity in the next five years, especially in emerging economies.

The bioethanol segment has been estimated to lead the market in terms of value, mainly due to the large quantity of enzymes used for its production and the growing industrialization, increasing environmental concerns, and producers' inclination towards cost-efficiency and profitability. The pulp and paper application of technical enzymes is expected to grow at a comparatively higher CAGR; it is growing due to the scientific evidence proving that technical enzymes in pulp and paper processing are economically efficient and ecologically beneficial.

The amylases segment accounted for the largest share in 2015, in the "Technical Enzymes Market" in terms of value. The cellulases segment accounted for the second-largest share. The lipases segment is projected to grow at the highest CAGR from 2016 to 2021. Growing research and consumer usage, along with the potential economic benefits of technical enzymes to manufacturers, are driving the demand for amylases.

The North American region was the largest market for technical enzymes in 2015. The Asia-Pacific region is projected to be the fastest-growing market for technical enzymes during the forecast period. The market in this region is driven by increasing urbanization, growing disposable income, and advancement of technology. China dominated the Asia-Pacific market for technical enzymes due to the rapidly growing industrialization and investment in research and development activities. India is projected to be the fastest-growing market in the Asia-Pacific region.