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Global Biofuel Enzymes Market Trends And Forecast Report 2023-2030: Flex-fuel Vehicles Are Driving the Demand For Biofuels

By PR Newswire

PR Newswire
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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

About ResearchAndMarkets.com

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View original content:https://www.prnewswire.com/news-releases/global-biofuel-enzymes-market-trends-and-forecast-report-2023-2030-flex-fuel-vehicles-are-driving-the-demand-for-biofuels-301989864.html

SOURCE Research and Markets

First published on Thu, Nov 16, 2023

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