P&P Enzymes Market Worth $225 Million-plus by 2024
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According to the industry growth report Pulp & Paper Enzymes Market By Product (Amylases [Surface Coating, Deinking, Drainage Improvement], Xylanases/Hemicellulase [Bleaching, Fiber Modification/Fibrillation, Deinking, Debarking, Retting of Flax Fibers], Lipase [Pitch Treatment, Microbial Control], Cellulose [Deinking, Fiber Modification/Fibrillation, Drainage Improvement], Pectinase [Debarking, Retting Of Flax Fibers]) Industry Analysis Report, Regional Outlook (U.S, Canada, Germany, Portugal, France, Italy, Spain, Russia, Norway, Finland, Sweden, China, India, Japan, South Korea, Thailand, Taiwan, Australia, Vietnam, Indonesia, Brazil, Mexico, Argentina, Chile, Colombia, Uruguay, Saudi Arabia, UAE, Egypt, Iran, Israel, Jordan, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024, by Global Market Insights Inc., Ocean View, Del., USA, the pulp and paper enzymes market share will exceed $225 million by 2024.
Necessity for deinking, fibrillation, and fiber strength improvements in paper production has enhanced pulp and paper enzymes market growth. Increasing environment awareness along with shifting preference towards eco-friendly solutions will remain key factors driving product demand.
Increasing paper packaging demand from food processing, pharmaceutical, healthcare, and consumer goods industries will foster pulp and paper enzymes market growth. Further, benefits offered including tamper proof, convenient, durable, and lightweight are anticipated to increase product penetration. Globally, paper packaging contributed more than 35% in the overall packaging industry in 2016.
Government impositions to restrict plastic usage will facilitate the product as an alternative for plastic packaging. More than 100,000 marine animals die globally by consuming plastic. Growth in the advertisement industry that includes billboards and other promotional platforms through printing has fueled the paper printing industry. The industry has unlocked multiple avenues for pulp and paper market growth.
The wide range of product usage in newspaper, corrugated board, and writing pads that are used frequently will support the industry growth. Low energy consumption, reduced cost, and enhanced product quality due to enzymes usage will propel demand. Increasing digital platforms in several industries along with development in digital media may hamper pulp and paper enzymes market growth.
Browse key industry insights spread across 290 pages with 230 market data tables and nine figures and charts from the report, in detail, along with the table of contents.
Amylase is estimated to be more than $75 million by 2024. Potential applications, including cleaning, deinking, drainage improvement, and surface coating, will drive product demand. Rising demand for smooth sheets for printing application will boost product penetration.
Cellulose will witness 7%-plus CAGR until 2024. Stringent regulations on harsh chemical usage, including caustic soda, will fuel the product demand. Reduced undesired deposits, improvement in machine running, and enhanced drain refining, are the benefits supporting demand.
Lipase witnessed a demand of more than 300 tons in 2016. Improved pitch treatment and microbial control by the product has enhanced pulp quality, particularly in sulfite material. Elimination of triglycerides in unbleached sulfite is the major characteristic supporting the product growth.
In 2016, the North American pulp and paper enzymes market was more than 38 million. Rising ecofriendly packaging demand and presence of large scale product manufacturers is driving the regional pulp and paper enzymes market growth. Further, advanced supply chain mechanism and strong economic conditions are contributing to the regional growth.
The APAC pulp and paper enzymes market will witness gains of 6.5%-plus by 2024. Increasing enzymes adoption in manufacturing facilities due to its enhanced benefits will stimulate the regional demand. Easy availability of resources and labor, coupled with environment regulations on industrial wastages, are driving the industry, as the product reduces pollutants in wastewater.
The global pulp and paper enzymes industry share is highly consolidated with the key manufacturers including AB Enzymes, Dupont, and Novozymes acquiring more than 50% of the industry share. Other significant producers in terms of product range and geographic presence in the pulp and paper enzymes market includes Enzymatic Deinking Technologies, Buckman Laboratories Anthem Cellutions, Krishna Specialty Chemicals, Rossari Biotech, KPS Bio, Biotech, Logen Corp., MetGen, and Nature BioScience. Strategies including expansion of manufacturing capacity, collaborations, agreements, and new product launch are being adopted by these companies. Novozymes acquired logen Corp.’s industrial enzyme business in 2013 for $53.8 million.
