Albany, NY -- (SBWIRE) -- 09/17/2014 -- A New Report Published by Transparency Market Research, shows the global biofuel enzymes market was worth $1,021,9 million in 2011 and is further expected to reach $1,653.1 million in 2018. The overall market is expected to grow at a CAGR of 7.6% in the forecast period 2012 – 2018.

This study report based on biofuel enzymes market is designed in an effort to identify the performance of biofuel enzymes in the global scenario. The market report segments the biofuel enzyme segment by application, type, and geography and also in terms of revenue estimated for the forecast period, 2010 to 2018.

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Considering the market by types, the global biofuel enzymes consist of industrial lipases, amylases, and others. The amylases enzymes market is growing at a CAGR of 8.0% from 2013 to 2018. This market is further categorized into two types: cellulase and industrial proteases enzymes. The market for industrial proteases is rising rapidly at a CAGR of 8.7% from 2013 to 2018. In terms of application, the market includes corn/starch based ethanol, biodiesel, ignocellulosic ethanol, and others. Among the varied product classes of biofuel enzymes, carbohydrase is the largest class of enzymes in the market. It is used extensively for industrial purposes. Carbohydrase comprises the various enzymes such as amylase, protease cellulose, pectinase, lipase, nuclease, and more. Proteases are catalysts that include chymosin – a dairy industry enzyme and similarly, lipases accelerates the hydrolysis of lipids and fats and includes triglycerides, phospholipases, and others.

This study research classifies the global market for biofuel on the basis of application, types, and geography. The four major applications of the industrial enzymes market include, food & beverages, biofuel production, cleaning agents, and animal feed. Among all the segments, the food & beverages application segment holds the largest share in the global market.

The global biofuel enzymes market is primarily driven by growth in end application markets such as, bio-based ethanol and growing consumption of biodiesel. In many countries, governments are impelled to form legislations for blending biofuels due to changes in economics of fossil fuels. This has stimulated a growth in the global market for biofuel enzymes. Also, increasing awareness for biofuel enzymes’ sustainability is another major growth factor for this market. These elements have influenced the market in terms of reduction of carbon dioxide emissions as well as cost of fuel, resulting in growing consumption of biofuel and thus, the biofuel enzymes.

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The segmentation based on product type and applications in the report for biofuel enzymes are given for all major regions and key countries across the world. The report analyzes the market size in terms of revenue. It also discusses various market drivers, challenges, raw materials, restraining factors, and trends in detail.

On the basis of geographical analysis, the market has been segmented into four major regions that include North America, Europe, Asia-Pacific, and ROW. The global market for biofuel enzymes in North America is calculated to be the largest market in the forecast period. This region is however followed by Asia Pacific which will be the second most promising market for growth in biofuel enzymes in the near future.

Some of the key participants profiled in the biofuel enzymes market include Verenium Corporation, Du Pont de Nemours & Co, AB Enzymes GmbH, Royal DSM NV, Noor Creations, Novozymes A/S, Logen Corporation, NextCAT Inc,., Codexis Inc. and others.

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