DUBLIN, May 19, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Technical Enzymes Market by Type (Cellulases, Amylases, Proteases, Lipases, Other Enzymes), Application (Bioethanol, Paper & Pulp, Textile & Leather, Starch Processing, Other Applications), & by Region - Global Forecasts to 2021" report to their offering.
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The market for technical enzymes is projected to reach -USD 1.27 Billion by 2021, at a CAGR of about 3.4% from 2016 to 2021
The technical enzymes market is fueled by the growing industrialization, increasing environmental concerns, and focus on cost reduction and resource optimization which has led to a large-scale adoption of technical enzymes for various applications.
The technical enzymes market is segmented on the basis of type into cellulases, amylases, proteases, lipases, and other enzymes. The lipases segment is growing at the fastest rate in terms of value, due to the increasing producers' demand as it is commercially viable and helps in yield improvement.
Based on application, the technical enzymes market is segmented into bioethanol, paper & pulp, textile & leather, starch processing, and other applications. The paper & pulp segment, by application, is growing at the highest rate due to its efficiency, safety, and ecological benefits. Bioethanol dominated the technical enzymes market due to the increasing demand for cellulosic bioethanol and the associated benefits of cost-efficiency and sustainability in terms of less emission in the environment.
The market is also segmented on the basis of region into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America dominated the global technical enzymes market due to the developed industries in this region. Asia-Pacific is projected to be the fastest-growing region in the technical enzymes market due to continuous increase in demand for technical enzymes owing to the economic and operational benefits from technical enzymes along with increasing industrialization and broad application spectrum.
The multi-functionality of technical enzymes, coupled with the growing demand from various industries such as textile & leather processing, paper & pulp manufacturers, starch processing, oilfield fine chemicals, waste water treatment industries, and bioethanol manufacturers drives the market. However, the increasing raw material cost and competition among raw material suppliers along with price war among different technical enzymes manufacturers are restraining the market.
The technical enzymes market is fragmented and competitive, with a large number of players operating at regional and local levels. The key players in the market adopted expansions and investments as their preferred growth strategy.
Key players such as BASF SE (Germany), E.I. du Pont de Nemours and Company (U.S.), Associated British Foods Plc (U.K.), Koninklijke DSM N.V. (The Netherlands), and Novozymes A/S (Denmark). Other players include Dyadic International Inc. (U.S.), Advanced Enzyme Technologies Limited (India), MAPS Enzyme Limited (India), Epygen Labs FZ LLC (UAE), and Megazyme (Ireland), which have also been profiled in the report.
For more information visit http://www.researchandmarkets.com/research/2kmgkc/technical_enzymes
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SOURCE Research and Markets