The biocatalysis and biocatalyst market is witnessing robust growth driven by a rising need for sustainable and eco-friendly industrial practices across various sectors. This demand underscores the pivotal role of biocatalysts in facilitating environmentally conscious processes.
NEWARK, Del, Feb. 06, 2024 (GLOBE NEWSWIRE) — The biocatalysis and biocatalyst market is anticipated to reach a valuation of US$ 694.8 million in 2024. The industry is projected to be worth US$ 1,290 million by 2034, expanding at a CAGR of 6.4% between 2024 and 2034. The market is experiencing substantial growth, primarily fueled by an increasing demand for sustainable and environmentally friendly industrial processes across diverse sectors.
Biocatalysis involves the utilization of natural catalysts, predominantly enzymes, to facilitate chemical reactions in the production of pharmaceuticals, biofuels, and various other chemicals. The method gains prominence due to its ability to offer higher efficiency, operate under milder reaction conditions, and significantly reduce environmental impact compared to traditional chemical processes.
One key driver of the market expansion is the growing awareness among industries regarding the multiple advantages associated with biocatalysis. These advantages include environmental benefits and improved process efficiency, leading to cost-effectiveness and enhanced product quality.
Request Your Sample Report Now! https://www.futuremarketinsights.com/reports/sample/rep-gb-18867
The market is witnessing significant advancements in biotechnology and enzyme engineering, which are pivotal in extending the capabilities and applications of biocatalyst. These technological strides make biocatalysis an increasingly viable and attractive option for various industrial processes.
The market is poised for sustained growth, driven by the ongoing commitment to sustainable practices and the continuous evolution of biotechnological advancements. As industries increasingly recognize the benefits of biocatalysis in achieving their environmental and operational goals, the market is likely to play a pivotal role in shaping the future of industrial processes across the globe.
Key Takeaways from the Market Study
- Based on type, the hydrolases are projected to expand at 6.2% CAGR by 2034.
- China is estimated to register at a CAGR of 6.9% by 2034.
- South Korea experiences significant growth, projected at a CAGR of 8.5% by 2034.
- Based on application type, biofuel is anticipated to expand at a CAGR of 6% by 2034.
“The growing emphasis across industries on adopting sustainable and environmentally friendly production methods is a key driver propelling the biocatalysis and biocatalyst market,” says Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Drive Your Business Growth Strategy: Purchase the Report for Key Insights! https://www.futuremarketinsights.com/checkout/18867
The competitive landscape of the biocatalysis and biocatalyst market is marked by active participation and innovation among key players. Continuous investments in research and development contribute to advancements in biocatalyst technologies.
Strategic collaborations and acquisitions are prevalent strategies, strengthening market presence. Regulatory compliance, technological proficiency, and a commitment to sustainable practices are pivotal factors shaping the competitive dynamics in this evolving market, reflecting a dynamic and competitive industry ecosystem.
Some key developments are:
- In April 2020, Biocatalyst Ltd introduced Lipomod™ 888MDP, a novel enzyme derived from non-genetically modified microbes. Positioned as an eco-friendly alternative to pancreatic lipase, this microbial lipase preparation holds Kosher and Halal certifications. It complies with vegetarian, vegan, and GMO VLOG standards due to its microbial origin.
- In January 2023, BASF and Cargill revealed an expanded collaboration at the IPPE trade show in Atlanta. The enhanced partnership now includes the United States and focuses on research and sales of feed enzymes.
Market Report Scope
|Estimated Market Size in 2024
|US$ 694.8 million
|Projected Market Valuation in 2034
|US$ 1,290 million
|CAGR Share from 2024 to 2034
|2024 to 2034
|Historical Data Available for
|2019 to 2023
|Value in US$ million
|Key Regions Covered
|Key Market Segments Covered
|Key Countries Profiled
|Key Companies Profiled
Get the Complete Report Methodology Now! https://www.futuremarketinsights.com/request-report-methodology/rep-gb-18867
More Valuable Insights Available
Future Market Insights offers an unbiased global biocatalysis and biocatalyst market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034
To understand biocatalysis and biocatalyst market opportunities are segmented based on Type (Hydrolases, Oxidoreductases, Transferases), Application (Biofuel, Biopharmaceuticals, Detergents, Food and Beverages), Region (North America, Latin America, Europe, East Asia, South Asia, Oceania, Middle East and Africa)
About the Chemicals and Materials Team at Future Market Insights
The chemicals and materials team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With over 100+ reports and one million+ data points, the team has analyzed the industry lucidly in 50+ countries for over a decade. The team briefly analyzes key trends, including competitive landscape, profit margin, and research development efforts.
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
Have a Look at Related Research Reports of Chemicals & Materials
The environmental catalysts market is estimated to increase at a CAGR of 4.4% from 2022 to 2032, with a value of US$ 38.57 billion in 2022. By 2032, the environmental catalysts market is expected to be worth US$ 59.33 billion.
The global hydro-processing catalysts market is expected to reach US$ 2,565.46 million by 2032, with a steady CAGR of 2.3% during the forecast period. Currently, the market is expanding at a size of US$ 2,043.66 million.
The emission control catalyst for the marine market size is projected to be valued at US$ 998.19 million in 2023 and is expected to rise to US$ 1,673.01 million by 2033. The sales of emission control catalysts for marine are expected to thrive at a significant CAGR of 5.3% during the forecast period.
The bioplastic and biopolymer market is estimated at US$ 16.8 billion by 2024. The market valuation is expected to be US$ 98 billion by 2034, registering a staggering CAGR of 19.3%.
Demand for hydrochloric acid in GCC is poised to exhibit a 4.9% CAGR through 2033. The GCC hydrochloric acid market is anticipated to reach around US$ 116.9 million by 2033.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
For Sales Enquiries: [email protected]
LinkedIn| Twitter| Blogs | YouTube
- Clearside Biomedical to Report Fourth Quarter and Full Year 2023 Financial Results and Provide Corporate Update on Tuesday, March 12, 2024 - February 29, 2024
- Xometry Reports Fourth Quarter and Full Year 2023 Results - February 29, 2024
- Fennec Pharmaceuticals Reports Preliminary Unaudited Net Revenue for Fourth Quarter and Full-Year 2023 Results - February 29, 2024