The global industrial enzymes market is estimated to be valued at USD 6.6 billion in 2021. It is projected to reach USD 9.1 billion by 2026, recording a CAGR of 6.6% during the forecast period. Enzymes play an important role as a catalyst in the processing of several industrial products. Industrial enzymes are typically used as bulk enzymes in these and other industries. The market for industrial enzymes has witnessed significant growth as they are increasingly used as substitutes for chemicals, specifically in food & beverages and bioethanol. The application of industrial enzymes is also on the rise for detergents and as ingredients in the feed industry.
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Leading players profiled in this report:
• BASF (Germany)
• Novozymes (Denmark)
• DuPont (US)
• DSM (Netherlands)
• ABF (UK)
• Kerry (Ireland)
• Advanced Enzyme Technologies (India)
Asia Pacific is projected to witness the highest growth of 7.81% during the forecast period
The Asia Pacific industrial enzymes market is led by their wide industrial applications across the region. Developed markets such as North America and Western Europe are becoming mature, which has led to a faster growth in developing markets such as Asia Pacific. For instance, textile & leather has become one of the important industries in the Asia Pacific region because of changes in technological innovations in machinery, synthetic fibers, logistics, and globalization of business. In addition, the shift of industrial operations, such as textile & leather production, from developed nations in North America and Western Europe to the Asia Pacific region over the past decade has boosted the market for industrial enzymes.
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Commercializing bioethanol production from enzymatic processes fueling the lipases market
Lipases are enzymes that catalyze the hydrolysis of lipids and are one of the important groups of biocatalysts with biotechnological applications. They are extracted from many species of plants, animals, bacteria, fungi, and yeast. The ones derived from microorganisms are used in various industries, such as textile & leather, bioethanol, Paper & pulp, and wastewater treatment. Lipases are the major enzymes used for commercializing bioethanol production with enzymatic processes. As biological catalysts, they convert the free fatty acids (FFA) and triacylglycerol to fatty acid methyl esters, which generate biofuel. Transesterification is the functional benefit witnessed in the Paper & pulp industry due to the usage of lipases.