Global Biofuel Enzymes Market: Introduction
A biofuel is defined as any fuel for which energy is obtained through a process of biological carbon fixation. Biofuels are produced by biochemical process which utilize proteins called as biofuel enzymes in order to accelerate the chemical reaction. Biofuel enzymes do not chemically react with the substrate and reduces the energy needed to make the reaction occur. Ethanol, biodiesel, methanol, and biobutanol are the prominent biofuels that utilize biofuel enzymes during the production process. The global increase in energy demand and decline in the available stock of fossil fuels has become one of the global challenges and requires a search for alternate sources of fuels and energy. Consequently, conversion of biomass to biofuels is catalyzed by biofuel enzymes providing an ideal source of clean and sustainable energy.
With the unavoidable depletion of the non-renewable resources and due to favorable environmental features, biofuels are preferred fuels of tomorrow. Despite the advantages of producing biofuels utilizing enzymes, only a limited number of biofuel enzymes have been commercially produced. The main reason behind it is the unavailability of efficient enzymes that can execute desired conversion of feedstock and their incapability to adapt to the application conditions. Subsequently, the total share of biofuels in global road transport is very less owing to higher cost of production compared to gasoline, uneven composition, low efficiency, and low quality of biofuel enzymes. However, demand for biofuel enzymes is likely to enhance owing to global concern to minimize the exploitation of fossil fuels.
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Global Biofuel Enzymes Market: Market Dynamics
Organizations such as U.S. Department of Energy’s (DOE) National Renewable Energy Laboratory (NREL) emphasize on discovering new biofuel enzymes which could help to remove economic and technical barriers preventing cellulosic biofuels from becoming a commercial reality. Strong research and development activities are carried by various national and international institutes to develop novel biofuel enzyme in order to quicken the conversion rate of biomass into sugars. Additionally, the companies entails on developing cheaper process for the production of biofuels. Aforementioned factors are likely to complement the growth of biofuel enzymes. However, the enzymatic approach for biofuel production is the exact example of green chemistry and much preferred because of its insignificant reaction conditions. Thus, the energy requirement to produce liquid biofuels by using biofuel enzymes is lower. Subsequently, increase the focus of manufacturer to utilize biofuel enzymes.
Global Biofuel Enzymes Market: Market Segmentation
Global Biofuel Enzymes market can be segmented on the basis of enzyme type and regions.
On the basis of enzyme type, global Biofuel Enzymes market can be segmented as
Global Biofuel Enzymes Market: Regional Outlook
North America dominates the global production of biofuel followed by Latin America and Europe. Among Western European countries, France and Germany look prominent in terms of consumption of biofuel enzymes for the production of bioethanol. European countries has adopted a series of targets to fight climate change and mitigate the effects of fossil fuels depletion. Biofuels can play a vital role in tackling the issues related to geopolitics and higher fossil fuel prices. As a consequence, demand of biofuel enzymes is expected to surge in the near future. In the Middle East, biofuel enzymes market is expected to witness lucrative opportunities owing to soar in the demand for transportation fuels. The Australian biofuel enzymes market remain small owing to mandates do not cover the entire country and remain modest as compared to other countries. China and India are expected to witness promising growth in the coming years owing to governmental initiatives for the production of biofuels.
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Global Biofuel Enzymes Market: Key Participants
Example of some of the market participants in the global Biofuel Enzymes market discerned across the value chain include
E.I. du Pont de Nemours and Company
Sunson Industry Group Co., Ltd.
Specialty Enzymes & Biotechnologies
Enzyme Supplies Limited
Koninklijke DSM N.V.
Advanced Enzyme Technologies Ltd.