November 22, 2012
Wellesley, Mass. – According to a new technical market research reports, GLOBAL MARKETS AND TECHNOLOGIES FOR BIOFUEL ENZYMES (EGY099A) from BCC Research (www.bccresearch.com), the global biofuel enzyme market was valued at $535.6 million in 2011 and should reach $617.2 million in 2012. The total market value is expected to reach nearly $915 million in 2017 after increasing at a five-year compound annual growth rate (CAGR) of 8.2%.
The major market segments are amylases, cellulases, xylanases, lipases and other enzymes.
Amylase enzymes make up the largest segment of the biofuel enzymes industry with revenues of nearly $227.5 million in 2010 and $226.6 million in 2011.
“Cellulases” is the second leading category of biofuel enzymes with revenues of about $150.7 million in 2010 and $155.8 million in 2011.
Lipases had revenue of $39.6 million in 2011 and is expected to grow at a CAGR of 7.7%.
Biofuels are an environment-friendly energy source produced from biomass. These are becoming popular as alternatives to fossil fuels. To respond to the increased demand for biofuels, an advanced production process using enzymes has been developed. Enzymatic processes have been employed to overcome the drawbacks of conventional chemical processes. Improved efficiency, enhanced quality of biofuels and reduced negative environmental effects are the advantages of enzymes, which make the enzymatic production processes preferable over conventional chemical processes. Thus, the depleting fossil fuels, increasing prices of fossil fuels, increasing demand for energy and increasing awareness about environmental protection are the driving forces behind the biofuels market.
To maintain equilibrium between the increasing demand and short supply of biofuels, manufacturers are using enzymes for the cost-efficient production of biofuels; hence, the biofuel enzymes market also has increased.
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Global Markets and Technologies for Biofuel Enzymes( EGY099A )
Publish Date: Jan 2013
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