Biofuel Enzymes Market Size, Share, Growth Analysis, By Type(Amylases, cellulases, proteases, lipases), By Application(Biodiesel, starch-based ethanol, sugar-based ethanol, and others including biogas and cellulosic ethanol), By Region - Industry Forecast 2024-2031


Report ID: SQMIG10F2010 | Region: Global | Published Date: February, 2024
Pages: 157 |Tables: 66 |Figures: 79

Biofuel Enzymes Market Insights

Biofuel Enzymes Market size was valued at USD 2.08 billion in 2021 and is poised to grow from USD 2.28 billion in 2022 to USD 4.27 billion by 2030, growing at a CAGR of 9.4% in the forecast period (2023-2030).

The Global Biofuel Enzymes Market is a growing market, driven by the increasing demand for biofuels as a renewable energy source and the advancements in enzyme technology. The market is expected to continue to grow in the coming years, with an increasing focus on reducing greenhouse gas emissions and the growing need for sustainable and renewable energy sources. One of the key drivers of the market is the increasing demand for biofuels. The growing concerns over climate change and the need to reduce greenhouse gas emissions have led to a shift towards renewable energy sources, including biofuels. Biofuels are produced from renewable sources such as agricultural crops, forestry, and waste materials, making them a more sustainable and environmentally friendly alternative to fossil fuels. Another driver of the market is the advancements in enzyme technology.

Enzymes are essential in the conversion of biomass into biofuels, and advancements in enzyme technology have led to the development of more efficient and cost-effective enzymes that can be used in various stages of the biofuel production process. These advancements have also led to the development of new and innovative enzymes that can be used in the production of biofuels from a wider range of feedstocks. North America is currently the largest market for biofuel enzymes, followed by Europe and Asia Pacific. The increasing demand for biofuels, government support for renewable energy sources, and advancements in enzyme technology are some of the major factors driving the growth of the market in these regions. The market is highly competitive, with several players operating in the market. Some of the major players in the market are focusing on developing new and innovative enzymes, expanding their product portfolio, and strengthening their market position through partnerships and acquisitions.

US Biofuel Enzymes Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 2.08 billion

Largest Segment

Amylases

Fastest Growth

Amylases

Growth Rate

9.4% CAGR

Global Biofuel Enzymes Market 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)

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Biofuel Enzymes Market Segmental Analysis

Global Biofuel Enzymes Market is segmented on the basis of type, application and region. By type, the market is segmented into amylases, cellulases, proteases, lipases, and others. By application, market is segmented into biodiesel, starch-based ethanol, sugar-based ethanol, and others including biogas and cellulosic ethanol. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Biofuel Enzymes Market Analysis by Type

The amylases segment dominated global biofuel enzymes market, which are enzymes used to break down starch into simple sugars that can be fermented into biofuels such as ethanol. This is because starch-based feedstocks such as corn and wheat are the most commonly used sources for the production of biofuels.

The fastest growing segment of the market is cellulases, which are enzymes used to break down lignocellulosic material into simple sugars that can be fermented into biofuels. Cellulosic feedstocks such as agricultural residues, forestry waste, and energy crops are becoming increasingly popular as they do not compete with food crops for land and resources.

Biofuel Enzymes Market Analysis by Application

The starch-based ethanol segment dominated the global biofuel enzymes market based on application, which is the most common type of biofuel produced globally. Starch-based feedstocks such as corn and wheat are widely used in the production of ethanol, and enzymes such as amylases are used to break down starch into simple sugars that can be fermented into ethanol.

The fastest growing segment of the market is cellulosic ethanol, which is produced using feedstocks such as agricultural residues, forestry waste, and energy crops. Enzymes such as cellulases are used to break down the lignocellulosic material into simple sugars that can be fermented into ethanol. The growth of this segment is driven by the increasing demand for sustainable and eco-friendly alternatives to traditional fossil fuels, and the development of new enzymes and technologies that make the production of cellulosic ethanol more cost-effective and efficient.

Global Biofuel Enzymes Market Size By Type 2022(%)

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Biofuel Enzymes Market Regional Insights

North America dominated the global biofuel enzymes market, primarily driven by government initiatives aimed at reducing greenhouse gas emissions and promoting the use of biofuels. The US and Canada are the major contributors to the growth of the biofuel enzymes market in the region. The US is the largest market for biofuel enzymes in North America, driven by the government's Renewable Fuel Standard (RFS) program, which mandates the use of biofuels in transportation. The RFS program has led to a significant increase in the production and use of biofuels in the country, driving demand for biofuel enzymes. In addition, the US government provides tax incentives and grants for the development of renewable energy sources, further boosting the growth of the biofuel enzymes market in the country. Canada is also a significant market for biofuel enzymes, driven by the government's initiatives to promote the production and use of biofuels. The Canadian government has implemented several policies and programs to support the development of biofuels, such as the Renewable Fuels Regulations, which mandate the use of biofuels in transportation.

The Asia Pacific region is one of the fastest-growing markets for biofuel enzymes, primarily driven by rising demand for biofuels and increasing government support for their production and use. The region includes countries such as China, India, Japan, Australia, and others. China is the largest market for biofuel enzymes in the Asia Pacific region, driven by the government's initiatives to reduce dependence on fossil fuels and promote the development of renewable energy sources. The Chinese government has implemented several policies and programs to support the development of biofuels, such as the Biofuel Industry Development Plan, which aims to increase the production of biofuels in the country. India is another significant market for biofuel enzymes, driven by the government's initiatives to promote the production and use of biofuels. The Indian government has implemented several policies and programs to support the development of biofuels, such as the National Biofuels Policy, which aims to increase the production of biofuels in the country and reduce dependence on imported fossil fuels. The Asia Pacific market for biofuel enzymes is highly competitive, with several large players operating in the region. These players are focusing on developing new and innovative enzymes, expanding their product portfolio, and strengthening their market position through partnerships and acquisitions.

Global Biofuel Enzymes Market Size By Geography, 2022-2030
  • Largest
  • Fastest

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Biofuel Enzymes Market Dynamics

Biofuel Enzymes Market Drivers

Government support and incentives

  • Many governments around the world are promoting the use of biofuels as part of their efforts to reduce greenhouse gas emissions and combat climate change. Governments are providing various incentives such as tax credits, subsidies, and grants to encourage the production and use of biofuels. This support is driving the demand for biofuel enzymes as they are essential in the conversion of biomass into biofuels.

Rising awareness of renewable energy sources

  • There is a growing awareness among consumers and businesses about the need to transition to renewable energy sources such as biofuels to reduce their carbon footprint. This awareness is driving demand for biofuels and consequently, the demand for biofuel enzymes. As more businesses and individuals seek to adopt sustainable practices, the demand for biofuels is expected to continue to rise, driving growth in the biofuel enzymes market.

Biofuel Enzymes Market Restraints

High R&D costs

  • The development of new and improved biofuel enzymes requires significant investment in research and development. The high costs associated with R&D activities may limit the entry of new players into the market and may also limit the adoption of new technologies. As a result, the cost of biofuel enzymes may be high, which could hamper the market growth.

Complex regulatory frameworks

  • The biofuel enzymes market is subject to complex regulatory frameworks, which may vary by country and region. These regulations may relate to the use of certain raw materials, manufacturing processes, and labeling requirements. Compliance with these regulations can be time-consuming and costly, which may limit the growth of the biofuel enzymes market, particularly for smaller players who may struggle to comply with these regulations.

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Biofuel Enzymes Market Competitive Landscape

The Global Biofuel Enzymes Market is highly fragmented, with a large number of players operating in the market. Some of the major players in the market are focusing on developing new and innovative enzymes, expanding their product portfolio, and strengthening their market position through partnerships and acquisitions. In addition to these large players, there are several small and medium-sized enterprises (SMEs) operating in the market. These SMEs are mainly focused on niche markets and are competing with large players by developing enzymes with unique properties and applications. The market is also characterized by intense competition, with players competing on factors such as price, product quality, and customer service. Moreover, the market is highly dynamic, with new players entering the market and existing players expanding their product portfolios. Given the market's highly fragmented nature, the competitive landscape is expected to remain intense in the coming years, with players competing on innovation and product differentiation to gain a larger market share. As the demand for biofuels continues to grow, companies are expected to invest heavily in R&D to develop enzymes with improved efficiency, specificity, and stability, which will further intensify the competition in the market.

Biofuel Enzymes Market Top Player’s Company Profiles

  • Novozymes A/S
  • DuPont de Nemours, Inc.
  • Royal DSM N.V.
  • Codexis, Inc.
  • AB Enzymes GmbH
  • Specialty Enzymes & Probiotics
  • Amano Enzyme Inc.
  • Roquette Frères
  • Advanced Enzyme Technologies Ltd.
  • Chr. Hansen Holding A/S
  • BASF SE
  • Advanced Biochemical (Thailand) Co., Ltd.
  • Biocatalysts Ltd.
  • Enzyme Development Corporation
  • Jiangsu Boli Bioproducts Co., Ltd.
  • Megazyme Inc.
  • Dyadic International, Inc.
  • Genencor International, Inc.
  • SinoBios (Shanghai) Imp. & Exp. Co., Ltd.
  • Sunson Industry Group Co., Ltd.

Biofuel Enzymes Market Recent Developments

  • In May 2021, Novozymes announced a partnership with LanzaTech, a carbon recycling company, to develop a bio-based solution for sustainable aviation fuel.
  • In June 2021, Novozymes launched a new enzyme product, Cellic CTec3, which is designed to increase efficiency and reduce the cost of producing biofuels from agricultural waste.
  • In August 2021, DuPont announced the acquisition of BASF's ultrafiltration membrane business, which will help the company expand its portfolio of solutions for water and wastewater treatment.
  • In September 2021, DuPont announced the launch of a new enzyme product, OPTIMASH AD-100, which is designed to improve the performance and efficiency of anaerobic digestion in biogas production.

Biofuel Enzymes Key Market Trends

  • Increasing demand for biofuels: As countries strive to reduce their dependence on fossil fuels and combat climate change, there has been a growing demand for biofuels. Biofuels are renewable energy sources derived from organic matter such as plants and waste, and enzymes play a critical role in the conversion of these materials into fuel. With the increasing demand for biofuels, the market for biofuel enzymes is also expected to grow.
  • Technological advancements: The biofuel enzymes market is experiencing rapid technological advancements, which are aimed at improving the efficiency and specificity of enzymes. For instance, there has been significant progress in enzyme engineering, where scientists are using genetic engineering techniques to develop new enzymes that are more efficient and have improved specificity. Additionally, there is increasing use of advanced technologies such as metagenomics and proteomics in enzyme discovery and development, which is expected to drive market growth in the coming years.

Biofuel Enzymes Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global biofuel enzymes market analysis, the market is driven by the increasing demand for renewable and sustainable energy sources and the growing awareness of the environmental impact of traditional fossil fuels. Based on the application of enzymes in the biofuel industry, starch-based ethanol is the largest segment of the market, followed by sugar-based ethanol and biodiesel. The fastest growing segment of the market is cellulosic ethanol, which is produced from agricultural and forestry waste and has significant growth potential due to the increasing demand for sustainable and eco-friendly energy sources. Some of the key players in the global biofuel enzymes market are investing in research and development to develop more efficient and cost-effective enzyme technologies, and are also expanding their market reach through strategic partnerships and acquisitions.

Report Metric Details
Market size value in 2023 USD 2.08 billion
Market size value in 2031 USD 4.27 billion
Growth Rate 9.4%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Amylases, cellulases, proteases, lipases, and others
  • Application
    • Biodiesel, starch-based ethanol, sugar-based ethanol, and others including biogas and cellulosic ethanol
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Novozymes A/S
  • DuPont de Nemours, Inc.
  • Royal DSM N.V.
  • Codexis, Inc.
  • AB Enzymes GmbH
  • Specialty Enzymes & Probiotics
  • Amano Enzyme Inc.
  • Roquette Frères
  • Advanced Enzyme Technologies Ltd.
  • Chr. Hansen Holding A/S
  • BASF SE
  • Advanced Biochemical (Thailand) Co., Ltd.
  • Biocatalysts Ltd.
  • Enzyme Development Corporation
  • Jiangsu Boli Bioproducts Co., Ltd.
  • Megazyme Inc.
  • Dyadic International, Inc.
  • Genencor International, Inc.
  • SinoBios (Shanghai) Imp. & Exp. Co., Ltd.
  • Sunson Industry Group Co., Ltd.

Biofuel Enzymes Market Recent Developments

  • In May 2021, Novozymes announced a partnership with LanzaTech, a carbon recycling company, to develop a bio-based solution for sustainable aviation fuel.
  • In June 2021, Novozymes launched a new enzyme product, Cellic CTec3, which is designed to increase efficiency and reduce the cost of producing biofuels from agricultural waste.
  • In August 2021, DuPont announced the acquisition of BASF's ultrafiltration membrane business, which will help the company expand its portfolio of solutions for water and wastewater treatment.
  • In September 2021, DuPont announced the launch of a new enzyme product, OPTIMASH AD-100, which is designed to improve the performance and efficiency of anaerobic digestion in biogas production.
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Biofuel Enzymes Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Biofuel Enzymes Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Biofuel Enzymes Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Biofuel Enzymes Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Biofuel Enzymes Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Biofuel Enzymes Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Biofuel Enzymes Market size was valued at USD 2.08 billion in 2021 and is poised to grow from USD 2.28 billion in 2022 to USD 4.27 billion by 2030, growing at a CAGR of 9.4% in the forecast period (2023-2030).

The Biofuel Enzymes Market is highly fragmented, with a large number of players operating in the market. Some of the major players in the market are focusing on developing new and innovative enzymes, expanding their product portfolio, and strengthening their market position through partnerships and acquisitions. In addition to these large players, there are several small and medium-sized enterprises (SMEs) operating in the market. These SMEs are mainly focused on niche markets and are competing with large players by developing enzymes with unique properties and applications. The market is also characterized by intense competition, with players competing on factors such as price, product quality, and customer service. Moreover, the market is highly dynamic, with new players entering the market and existing players expanding their product portfolios. Given the market's highly fragmented nature, the competitive landscape is expected to remain intense in the coming years, with players competing on innovation and product differentiation to gain a larger market share. As the demand for biofuels continues to grow, companies are expected to invest heavily in R&D to develop enzymes with improved efficiency, specificity, and stability, which will further intensify the competition in the market. 'Novozymes A/S', 'DuPont de Nemours, Inc.', 'Royal DSM N.V.', 'Codexis, Inc.', 'AB Enzymes GmbH', 'Specialty Enzymes & Probiotics', 'Amano Enzyme Inc.', 'Roquette Frères', 'Advanced Enzyme Technologies Ltd.', 'Chr. Hansen Holding A/S', 'BASF SE', 'Advanced Biochemical (Thailand) Co., Ltd.', 'Biocatalysts Ltd.', 'Enzyme Development Corporation', 'Jiangsu Boli Bioproducts Co., Ltd.', 'Megazyme Inc.', 'Dyadic International, Inc.', 'Genencor International, Inc.', 'SinoBios (Shanghai) Imp. & Exp. Co., Ltd.', 'Sunson Industry Group Co., Ltd.', 'In May 2021, Novozymes announced a partnership with LanzaTech, a carbon recycling company, to develop a bio-based solution for sustainable aviation fuel.', 'In June 2021, Novozymes launched a new enzyme product, Cellic CTec3, which is designed to increase efficiency and reduce the cost of producing biofuels from agricultural waste.', 'In August 2021, DuPont announced the acquisition of BASF's ultrafiltration membrane business, which will help the company expand its portfolio of solutions for water and wastewater treatment.', 'In September 2021, DuPont announced the launch of a new enzyme product, OPTIMASH AD-100, which is designed to improve the performance and efficiency of anaerobic digestion in biogas production.'

Many governments around the world are promoting the use of biofuels as part of their efforts to reduce greenhouse gas emissions and combat climate change. Governments are providing various incentives such as tax credits, subsidies, and grants to encourage the production and use of biofuels. This support is driving the demand for biofuel enzymes as they are essential in the conversion of biomass into biofuels.

Increasing demand for biofuels: As countries strive to reduce their dependence on fossil fuels and combat climate change, there has been a growing demand for biofuels. Biofuels are renewable energy sources derived from organic matter such as plants and waste, and enzymes play a critical role in the conversion of these materials into fuel. With the increasing demand for biofuels, the market for biofuel enzymes is also expected to grow.

North America dominated the biofuel enzymes market, primarily driven by government initiatives aimed at reducing greenhouse gas emissions and promoting the use of biofuels. The US and Canada are the major contributors to the growth of the biofuel enzymes market in the region. The US is the largest market for biofuel enzymes in North America, driven by the government's Renewable Fuel Standard (RFS) program, which mandates the use of biofuels in transportation. The RFS program has led to a significant increase in the production and use of biofuels in the country, driving demand for biofuel enzymes. In addition, the US government provides tax incentives and grants for the development of renewable energy sources, further boosting the growth of the biofuel enzymes market in the country. Canada is also a significant market for biofuel enzymes, driven by the government's initiatives to promote the production and use of biofuels. The Canadian government has implemented several policies and programs to support the development of biofuels, such as the Renewable Fuels Regulations, which mandate the use of biofuels in transportation.

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