Enzymes for Industrial Applications
- The global market for industrial enzymes increased from $2.2 billion in 2006 to an estimated $2.3 billion by the end of 2007. It should reach $2.7 billion by 2012, a compound annual growth rate (CAGR) of 4%.
- The greatest growth rate is expected in the animal enzymes sector, with a CAGR of 6% between 2007 and 2012, helped in large part by the increased use of phytase enzymes to fight phosphate pollution.
- New and emerging applications have helped drive demand for enzymes, and the industry is responding with a continuous stream of innovative products.
With the environment and cost issues in the conventional chemical processes being subjected to considerable scrutiny, biotechnology is gaining rapid ground as it offers several advantages over conventional technologies.
Industrial enzymes represent the heart of biotechnology. The field of industrial enzymes is now experiencing major research and development (R&D) initiatives, resulting in development of a number of new products and in improvement in the process and performance of several existing products.
This study examines the applications actually being practiced commercially worldwide and their markets and growth opportunities. It also looks into the true market penetrations for the newer grades of enzymes and their applications as well as newer developments and potential applications on the horizon. This study gives a clear, quantitative picture of the marketplace, and highlights the technological and investment opportunities in the field.
SCOPE OF STUDY
This report contains:
- Descriptions of various technical enzyme applications including detergent, textile, pulp and paper, leather, and miscellaneous chemicals; also, food applications including confectionery and sweeteners, dairy, fruit and vegetable processing,, and animal feed
- The current market status of enzymes, trends and forecasts for growth over the next 5 years
- Analysis of the enzymes industry on a worldwide basis, both from a marketing and application perspective
- Discussion of emerging technologies with a thorough patent analysis
- Information about major players and their contributions to the enzymes industry.
This study is based on exhaustive primary and secondary research in addition to the information from in-house databases.
Various sources of published data from several international publications and seminar proceedings have been scrutinized to collect data and statistics. Particular attention has been paid to ascertain the actual quantities of enzymes produced and sold. Further, market penetration of enzymes is determined by examining the extent to which enzymes are being used in a particular application relative to the conventional or non-enzymatic routes, so that we can ascertain potential for future sale.
This study also involved extensive consultation with industry experts to get their opinions regarding the industrial enzyme marketplace, some of the changes going on in the field, and what the future holds.
CREDENTIALS OF ANALYSTS
The study has been carried out by a team of chemical engineering consultants led by Senior Consultant N. S. Venkataraman, a chemical engineer with over 30 years of experience in various functions relating to chemical, pharmaceutical, and allied industries. Other team members include D. Panneerselvam, P. Govindanayagi, and E. Ganga. All the members of the team are practicing chemical engineers or chemists, with extensive experience as business consultants in chemical and allied industries.
The project manager for this report was Dr. Yatin B. Thakore, who has over 20 years of industry experience in chemical and allied fields.
The global market for industrial enzymes is estimated at $2 billion in 2004 and is expected to rise at an average annual growth rate (AAGR) of 3.3% to $2.4 billion in 2009.
Volume growth of industrial enzymes is between a 4% and 5% AAGR, and is accompanied by decreasing prices.
Growth of the animal feed enzyme sector is somewhat higher, at nearly a 4% AAGR, helped by increased use of phytase enzyme to fight phosphate pollution.
Technical enzymes for detergent and pulp and paper manufacturing, among others, are the largest segment with a 52% share. Growth will parallel the overall market.
Total U.S. consumption of enzymes is estimated at $514 million in 2000.
Growing at an average annual rate (AAGR) of 4.1%, usage will reach $629.3 million by 2005.
Pulp and paper applications will show the most growth, at an AAGR of 6.5% through the period.
Detergent/cleaners are second, with 5% annually on average. Food and animal feed applications dominate the current market, accounting for just under half the total value.