Organizations such as NREL (National Renewable Energy Laboratory) of U.S. DOE (Department of Energy) are emphasizing on introducing new biofuel enzymes that would be beneficial in eradicating technical and economic barriers, thereby avoiding cellulose biofuels from turning out to be a commercial reality.
Ethanol to Beef up Revenue Growth of Biofuel Enzymes Market
Rapidly increasing need for increasing efficiency and specificity of products is expected to dive in revenue growth of biofuel enzymes market. Rising government policies and growing environmental concerns for developing legislations with regards to blending of biofuel has turned out to be a notable driver in expanding biofuel enzymes market. Increasing consumption of bio-based ethanol and biodiesel, which helps in reduction of fuel cost as well as carbon-dioxide emissions further drives the revenue growth of biofuel enzymes market. Consumer shift towards usage of cellulases along with related enzymes for manufacturing of ethanol is likely to drive the growth of biofuel enzymes market.
However, one of the main factors hindering the growth of biofuel enzymes market are high-cost of enzymes that are utilized for the manufacturing of lignocellulosic biofuel. Moreover, emerging opportunities in biofuel enzymes market are lignocellulosic ethanol commercialization with development of the low-cost enzymes benefitting lignocellulosic biofuel.
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Regulatory Bodies to Play a Significant Role in Biofuel Enzymes Market of European Countries
US biofuel enzymes market is likely to grow at a faster pace with increasing number of mandatory practices with regards to blending of fuel. Europe and North America have been facing major challenges such as requirement to achieve Kyoto protocols, depleting natural resources, and greenhouse emissions and these are catered by means of biofuels, which in turn helps in lucrative contribution towards growth of biofuel enzymes market. EU has been surging the use of bioenergy for the purpose of transportation and biofuel concerning to the high oil prices. This in turn has contributed significantly towards the substantial growth of biofuel enzymes market.
Acquisitions to Be the On-Going Strategy of Biofuel Enzymes Market Players
Key players in biofuel enzymes market are taking immense efforts in developing cheaper processes for the manufacturing of biofuels.
- Advanced Enzyme Technologies Limited: The biofuel enzymes market player recently announced that its subsidiary named Advanced Enzymes Europe B.V. entered in a definitive contract with Evoxx Technologies GmbH of Germany for acquiring 100% share for nearly € 7.65Million. This step is also expected to benefit in business expansion along with R&D capabilities, thereby strengthening European presence. This in turn is expected to benefit the company’s biofuel enzymes product portfolio as well.
- DowDuPont: The biofuel enzymes market player lately announced regarding it new stake repurchase purchase of nearly $3Billion and also is working heavily towards enhancing cost synergy commitments to around $3.6Billion with Y-O-Y saving upto $1.5Billion. Local prices have rose to 5% on pro forma basis with gains in all regions and divisions. Net sales have growth by double-digit in APAC as well as high single digit in rest of the regions. With increasing number of development plans, the company will also be working on expansion of its biofuel enzymes business.
- Royal DSM: The biofuel enzymes market player has entered into a joint venture with Cargill for developing cost-effective and zero-calorie sweeteners. The new collaboration is expected to combine technologies of both the companies for manufacturing steviol glycoside products derived by means of fermentation and the products are expected to be sold under the name ‘EverSweet™’. With development of other divisions, Royal DSM is also planning to improve its biofuel enzymes product portfolio with growing need for processing.
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Segmentation of Biofuel Enzymes Market Has Concentrated Only Towards Type
Based on type, biofuel enzymes market is divided into
Biofuel enzymes market research report offers holistic study on the global market and consists of beneficial and factual insights along with industry validated and statistically supported market data. The report consists of forecasts that has been taken up with the help of methodologies and various assumptions. Further, biofuel enzymes market research report delivers information and analysis based on the market segmentation, which includes industry, end-users and regions.