Global Biofuel Enzymes Market Trends and Forecast Report 2023-2030: Flex-fuel Vehicles are Driving the Demand for Biofuels

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Nov 15, 2023, 18:55 ET

DUBLIN, Nov. 15, 2023 /PRNewswire/ -- The "Biofuel Enzymes - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.

The global market for Biofuel Enzymes is expected to reach approximately $1.9 billion by 2030, growing from $1 billion in 2022. This growth reflects a Compound Annual Growth Rate (CAGR) of 8.1% over the period from 2022 to 2030.

The Amylase segment is projected to see significant growth, estimated at a 7.8% CAGR, expected to reach around $683.8 million by the end of the analysis period. The Cellulase segment is also projected to grow at an estimated 8.6% CAGR over the next 8 years.

Market Drivers and Trends:

An expanding role of renewable fuels in the global energy mix is creating opportunities for biofuels.
Biofuel remains a crucial element of inclusive clean energy initiatives.
The superiority of enzyme-based production methods over traditional ones is driving adoption.
There's an uptrend in advanced biofuels, favoring market growth.
The report compares first-generation and second-generation biofuels.
Availability of biofuel feedstock and supportive policies are driving biofuel output.
Favorable biofuel blend mandates and targets offer further opportunities.
Growth in demand for cellulosic biofuels is expected to boost enzyme sales.
Amylases continue to be in demand for fuel ethanol production due to their myriad benefits.
The enzymatic production of biodiesel from low-quality oils is gaining traction.
Rising demand for ethanol as fuel is spurring market prospects, particularly with the trend towards ethanol blending with gasoline.
The global shift away from fossil fuels and increasing demand for alternate fuels in the automotive industry are providing growth opportunities.
Flex-fuel vehicles are driving the demand for biofuels.
Aviation biofuels are expanding the market prospects.
Ongoing research and development efforts are expected to strengthen future growth, including the use of algae enzymes and genetic engineering to aid biofuel synthesis.

Challenges:

The market faces challenges such as high production costs, the established presence of petroleum-based fuels, the growing share of natural gas in the energy mix, and the rising importance of electric vehicles.

Report Features:

The report consists of 263 pages, covering market insights and trajectories.
It includes special discussions on the global economic climate and market sentiment.
The report offers coverage on global competitiveness and key competitor percentage market shares.
It provides an analysis of market presence across multiple geographies.
The report includes complimentary updates for one year and access to digital archives and a trademarked research platform.

Company Profiles:

The report profiles various key companies in the market, including:

BASF SE
AB Enzymes GmbH
Advanced Enzymes Technologies Ltd.
Aemetis, Inc.
Codexis, Inc.
Dyadic International, Inc.
Agrivida, Inc.
Aumgene Biosciences
Enzyme Development Corporation
BioResource International, Inc.
Enzyme Innovation
Creative Enzymes
ENMEX, S.A. de C.V
Aum Enzymes
Apricot Technologies Limited

For more information about this report visit https://www.researchandmarkets.com/r/yddz53

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