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[ 172 + Pages Research Report ] Global Textile Enzymes Market to surpass USD 3.2 billion by 2030 from USD 1.5 billion in 2020 at a CAGR of 5.4% in the coming years, i.e., 2021-30.
Product Overview
Textile enzymes are enzymes that are employed in textile processing, primarily in the finishing of fabrics and clothing. Textile Enzymes uses a variety of applications, including designing and jeans finishing. Textile enzymes are known for their ability to speed up reactions and are only supposed to work on certain substrates. In the textile business, enzymes such as cellulases, catalase, and laccase are often utilized. These enzymes are utilized in the removal of starch, the decomposition of excess hydrogen peroxide, the bleaching of textiles, and the decomposition of lignin.
Market Highlights
Global Textile Enzymes market is expected to project a notable CAGR of 5.4% in 2030.
Over the forecast period, various factors such as rising investments in building and infrastructure, rising urbanization, increasing consumer awareness of the benefits of flat steel such as design flexibility, high strength, low maintenance, and construction costs, and increasing government expenditure on infrastructure development will drive the global Textile Enzymes market. Furthermore, the expanding presence of a large customer base has resulted in a burgeoning industrial sector, which is likely to generate profitable prospects for the flat steel market over the projection period.
Global Textile Enzymes: Segments
Amylase segment to grow with the highest CAGR during 2020-30
Global Textile Enzymes market is segmented by type into Cellulose, Amylase, Catalase, Pectinase, Laccase, and Others. Amylase segment held the largest market share in the year 2020. Amylases are enzymes that catalyze the conversion of starch to sugars. They are one of the most commonly employed enzymes in the industry to hydrolyze starch molecules into polymers made up of glucose units. Amylase breaks down polysaccharides into disaccharides and, eventually, monosaccharides like glucose. There are three types: alpha-amylase, beta-amylase, and gamma-amylase; all three are glycoside hydrolases that aid in the breakdown of starch by acting on glycosidic bonds to form short-chain sugars. During the forecast period, these factors are expected to increase demand for amylase enzymes.
Biofuel segment to grow with the highest CAGR during 2020-30
Global Textile Enzymes market is divided by end user into Biofuel, Starch, Textile and leather, Paper and pulp and Others. In 2020, the biofuel sector is expected to lead the global market in terms of value, based on industry. Biofuel consumption has increased in many industrialized countries as a result of consumer demand for an alternative to gasoline for reducing hazardous auto and industrial emissions. Enzymes have been utilized to convert biomass into biofuels because they overcome many of the limitations associated with using standard chemicals as biofuel catalysts. Enzymes are a safer alternative to MTBE, which is a blending component used to oxygenate gasoline and is toxic to humans.
Market Dynamics
Drivers
Eco-friendly characteristics and demand in chemical processing industry
The non-toxic and eco-friendly characteristics of textile enzymes are expected to drive growth of the global textile enzymes market during the forecast period, owing to rising concerns about hazardous emissions of air pollutants released during chemical processing among textile manufacturing industries. Furthermore, owing to various benefits of textile enzymes such as optimization in processing time, energy and water-efficient procedure, improved product quality, and high potential for process integration, increasing adoption of various textile enzymes among chemical processing industries to reduce pollution is expected to support growth of the global market.
Rising disposable income and increasing technological advancements
Rising demand for de-sizing and bio-polishing of fabrics among textile industries throughout the world, owing to rising disposable income and changing lifestyle trends, is predicted to propel the worldwide textile enzymes market forward. Furthermore, increasing technological advancements associated with enzymes such as cellulases for denim finishing and lactases to remove color from textile effluents and textile bleaching are expected to boost global market growth in the near future, resulting in high-quality textile materials with reduced chemical processing pollution.
Restraint
High cost of enzyme synthesis and severe government laws
The high cost of enzyme synthesis, is projected to limit the worldwide textile enzymes market's growth. Furthermore, new severe laws relating to enzyme production may have an impact on the target market's growth to some extent.
Global Textile Enzymes: Key Players
BASF
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
DuPont
Associated British Foods
Novozymes
DSM
Dyadic International
Advanced Enzymes Technologies
Maps Enzymes
Epygen Labs
Megazyme
Other Prominent Players
Global Textile Enzymes: Regions
Global Textile Enzymes market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The market in North America is expected to hold highest CAGR over the forecasted period. Technical enzymes have a number of advantages, including being an environmentally safe and cost-effective alternative to traditional alkaline or acidic catalysts. Technical enzymes have become available for a wide range of applications in biofuel, paper & pulp, textile & leather, starch processing, and other industries as a result of technological improvements, which is expected to support the region's growth. Because of the creation of unique and superior performing items, improved technology, and global industrialization, the North American area is expected to be the largest market for technological enzymes in the world.
Global Textile Enzymes is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - North Africa, Israel, GCC, South Africa, and Rest of MENA
Textile Enzymes Market Report Scope and Segmentation
Report Attribute Details
Market size value in 2020 USD 1.5 billion
Revenue forecast in 2030 USD 3.2 billion
Growth Rate CAGR of 5.4% from 2021 to 2030
Base year for estimation 2020
Quantitative units Revenue in USD million and CAGR from 2021 to 2030
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Type, end-user and Region
Regional scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Key companies profiled BASF, DuPont, Associated British Foods, Novozymes, DSM, Dyadic International, Advanced Enzymes Technologies, Maps Enzymes, Epygen Labs, Megazyme, and Other Prominent Players