June 15, 2022 14:00 ET | Source: FACT.MR FACT.MR
United States, Rockville, MD, June 15, 2022 (GLOBE NEWSWIRE) -- The global fermentation chemicals market is predicted to witness a moderate growth rate of 5% during the forecast years of 2022 to 2032. The net worth of the fermentation chemicals market share is expected to reach US$ 123.9 Billion by the year 2032, increasing from US$ 71.8 Billion in the year 2021.
Fermentation chemicals are used in various chemical processes in sectors such as the alcohol, pharmaceutical, food and beverage, chemical, textile, and rubber industries, among others.
Different types of vegetable or organic feedstock, including corn, sugar, and starch, are most commonly used to make these compounds. To lessen the global reliance on petrochemicals, major businesses have changed their attention to bio-based raw materials, which is surely a benefitting development for the fermentation chemicals key trends & opportunities.
The global transition to bio-based chemicals is being fuelled by rising crude oil prices and increased worries about carbon emissions. The degradability of petrochemicals-based goods is the major factor driving the fermentation chemicals adoption trends. Organic acid, which has antibacterial and antifungal effects, is in high demand in the nutrition and animal feed industries. It releases hydrogen ions and further augments the demand for fermentation chemicals.
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Regulatory authorities such as the US Environmental Protection Agency or EPA and the US Department of Energy or DOE have imposed strict regulations on greenhouse gas (GHG) emissions from chemical plants. As a result, many industrial players' attention has switched to biological methods for chemical or acid production, creating a huge opportunity for fermentation chemicals market growth concurrently in the present and future days.
Unavailability of organic base materials insufficient amounts due to logistic or source constraints is anticipated to slow down the fermentation chemicals market growth to some degree. Because organic feedstock is unavailable, many end-use industries choose to utilise synthetic substrates for chemical production processes, causing a greater concern over the fermentation chemicals market trends and forecast.
• Over the next ten years, the worldwide fermentation chemicals market is expected to increase at a rate of roughly US$ 47.9 Billion in absolute dollars.
• Alcohol fermentation is the best-performing product category for fermentation chemicals market participants, expanding at a pace of 4.9% during the years 2022 to 2032 as per the prediction.
• The industrial application segment is the highest-grossing segment for the fermentation chemicals market, with a projected CAGR of 5% during the expected time span.
• The Asia Pacific area is the fastest-growing market for fermentation-supplemented goods, with a growth rate of 4.4% of the China fermentation chemicals market.
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Name of some of the fermentation chemicals market key players includes BASF SE, Archer Daniels Midland (ADM) Company, Cargill Incorporated, Dow Inc., AB Enzymes, Chr. Hansen /S, DSM, Ajinomoto Co., Inc., Novozymes A/S, Evonik Industries AG, Amano Enzyme, Inc., MicroBiopharm Japan Co., Ltd., TCI Chemicalss (India) Pvt. Ltd, Biocon, and INVISTA among others.
Recent Developments in Global Fermentation Chemicals Market
• In January 2022, Evonik Industries AG, for example, opened a new rhamnolipids manufacturing plant. In the approaching decade, this industrial production facility for bio-based and completely biodegradable rhamnolipids is predicted to increase the fermentation chemicals market share in the cosmetics and toiletries segment.
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Fact.MR, in its new offering, presents an unbiased analysis of the Fermentation Chemicals Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Fermentation Chemicals Market Analysis By Product Type (Alcohol Fermentation, Enzymes, Organic Acids) By Form (Liquid Fermentation Chemicals & Powdered Fermentation Chemicals) By Application and By Region – Global Market Insights 2022 to 2032
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