Portland, OR, Dec. 13, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global textile enzyme market was estimated at $672.3 million in 2020 and is expected to hit $1.22 billion by 2030, registering a CAGR of 6.3% from 2023 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Rise in textile production and the huge benefits associated with textile enzymes drive the growth of the global textile enzyme market. On the other hand, soaring cost of textile enzymes restrains the growth to some extent. Nevertheless, growing use of enzymes in fabric designing and bio-polishing is expected to pave the way for lucrative opportunities in the industry.
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COVID-19 scenario-
- Transport limitations across the world resulted in reduced industrial production and disrupted supply chain, which affected the global economic growth by a substantial proportion, thereby impacting the textile enzymes market growth negatively.
- Also, due to the social distancing norms, the manufacturing companies were working with limited workforce, thus, hampering the production processes, especially during the initial period.
- However, as the global situation is getting better, the market is projected to revive soon.
The global textile enzyme market is analyzed across type, application, and region.
Based on type, the cellulase segment accounted for the major share in 2020, holding nearly one-third of the global market. The amylase segment, on the other hand, would grow at the fastest CAGR of 7.1% throughout the forecast period.
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Based on application, the bio-polishing segment generated the highest share in 2020, accounting for more than one-fourth of the global market. The desizing segment, however, is projected to manifest the fastest CAGR of 7.0% from 2023 to 2030. .
Based on region, the market across Asia-Pacific held the lion’s share in 2020, garnering nearly half of the global market. The same region is also expected to cite the fastest CAGR of 6.6% by the end of 2030. The other provinces studied in the report include North America, Europe, and LAMEA.
The key market players analyzed in the global textile enzyme market report include BASF SE, E.I. du Pont de Nemours, Genotek Biochem., Koninklijke DSM N.V., Refnol Resins & Chemicals Ltd., AB Enzymes, Tex Biosciences Pvt. Ltd., Lumis, Maps Enzymes Ltd., and Novozymes A/S. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
