Cellulase Market Overview And Statistic For 2024-2033

Cellulase Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, July 18, 2024 /EINPresswire.com/ -- The global cellulase market is projected to grow from $1.95 billion in 2023 to $2.12 billion in 2024, at a CAGR of 8.8%. Despite challenges in various industries, the market is anticipated to reach $2.99 billion by 2028 at a CAGR of 8.9%, driven by the increasing demand for biofuels, a crucial renewable energy source efficiently processed using cellulase enzymes.

Increased Demand for Biofuels Drives Market Growth
Increased demand for biofuels is expected to propel the growth of the cellulase market going forward. Biofuels are a type of renewable energy derived from organic materials, primarily plant biomass or animal waste. The demand for biofuels is rising due to the increasing need for sustainable and renewable energy sources to reduce carbon emissions and dependence on fossil fuels. Cellulase is used in biofuel production to enable the efficient conversion of abundant and renewable cellulosic biomass into valuable transportation fuels, contributing to the reduction of greenhouse gas emissions and dependence on fossil fuels. For instance, in 2021, according to the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, the global demand for biofuels is set to grow by 41 billion liters, or 28%, over 2021–2026 in the main case. Therefore, increased demand for biofuels is driving the growth of the cellulase market.

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Major Players and Market Trends
Major companies operating in the cellulase market include Archer Daniels Midland Company, BASF SE, Dow Inc., Merck KGaA, Brenntag SE, DuPont de Nemours Inc, Koninklijke DSM N.V., Kerry Group plc, Daicel Corporation, Lenzing AG, Novozymes BioAg Limited, Ashland Inc, Chr. Hansen Holding A/S, Borregaard, Kemin Industries Inc, Genencor International Inc, Amano Enzyme Inc, Codexis Inc, AB Enzymes GmbH, MP Biomedicals LLC, Biocatalysts Ltd, BIO-CAT, Worthington Biochemical Corporation, and Dyadic International Inc.

Major companies operating in the cellulase market are focused on developing innovative products, such as high-efficiency cellulase enzymes, to enhance efficiency and sustainability. A high-efficiency cellulase enzyme is a potent biological catalyst that rapidly breaks down cellulose into simpler sugars, enhancing industrial processes in various sectors such as textiles, paper, and biofuels. For instance, in May 2024, Bionetix International, a Canada-based company that specializes in the development and production of natural biological products, launched ECL3000, the first in its new line of enzyme concentrates for manufacturers and formulators. ECL3000 is a high-efficiency cellulase enzyme produced by non-pathogenic fungi, targeting cellulose found in various everyday items like food, clothing, and paper. This enzyme offers benefits across industries such as textile, paper, biofuel, and animal feed processing.

Segments:
• Type: Endoglucanase (EG), Cellobiohydrolase (CBH), Beta-Glucosidase (BG)
• Source: Fungi, Bacteria, Actinomycetes, Plants, Animals
• End Use: Healthcare, Industrial, Food And Beverages, Textile, Pulp And Paper

Geographical Insights: North America Leading the Market
North America was the largest region in the cellulase market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.

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Cellulase Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Cellulase Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on cellulase market size, cellulase market drivers and trends, cellulase market major players, competitors' revenues, market positioning, and market growth across geographies. The cellulase market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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