Allied Market Research published a research report on the textile enzyme market. The findings of the report state that the global market for textile enzyme generated $672.3 million in 2020, and is expected to garner $1.22 billion by 2030, witnessing a CAGR of 6.3% from 2021 to 2030.The report offers valuable information on evolving market trends, major segments, top investment pockets, and key competitors for market players, investors, shareholders, and new entrants.
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Eswara Prasad, the Manager, Chemical and Materials at Allied Market Research, highlighted, “Rising textile production worldwide will drive the textile enzyme market. Significant potential of the denim clothing sector and advancements in textile manufacturing provide new growth opportunities to players operating in the textile enzymes market.”
The report offers an in-depth analysis of drivers, restraints, and opportunities to help market players in devising strategies and capitalizing on potential market opportunities. Rise in textile production and various advantages of textile enzymes drive the global textile enzyme market. However, high cost of textile enzymes impedes the market growth. On the other hand, increase in use of enzymes in fabric de-sizing and bio-polishingpresents new opportunities in the upcoming years.
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The research offers an extensive scenario of Covid-19 along with outlining its impact on the textile enzyme market across the world.Transportation constraints around the world resulted in decreased industrial production and a disrupted supply chain, thus reducing global economic growth by a significant amount and negatively affecting the textile enzymes market.Furthermore, due to social distancing norms, manufacturing industries had a limited workforce, which hampered production operations, particularly in the early stages.
The report offers detailed segmentation of the global textile enzyme market based on type, application, and region. These insights are helpful for new as well as existing market players to capitalize on the fastest growing and largest revenue-generating segments to accomplish growth in the future.
Based on type, the cellulase segment held the major share in 2020, accounting for nearly one-third of the globaltextile enzyme market. This is attributed to the use of cellulases in the textile industry which confers a variety of advantages including ease of using enzymes and treatments can be adapted to run on existing equipment and at different stages of textile wet processes. The amylase segment, however, would cite the fastest CAGR of 7.1% throughout the forecast period.
Based on application, the bio-polishing segment dominated the market share in terms of revenue, contributing tomore than one-fourth of the global marketin 2020. This is owing to an increase in demand for enhanced processing and energy-saving methods. However, the de-sizing segment is expected to grow at the fastest CAGR of 7.0% from 2021 to 2030.
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Based on region, the market across Asia-Pacific generated the highest sharein 2020, accounting for nearly half of the global market. Moreover, the same region is also expected to cite the fastest CAGR of 6.6% by the end of 2030. This is owing to an increase in investment in the textile industry in China and India is estimated to boost the textile enzyme market. India & China are the leading manufacturers and consumers of textile enzymes in the Asia Pacific. The report also includes an analysis of North America, Europe, and LAMEA regions.
The leading market players analyzed in the global textile enzyme market report include Genotek Biochem., BASF SE, Koninklijke DSM N.V., E.I. du Pont de Nemours, Maps Enzymes Ltd., Refnol Resins & Chemicals Ltd., Tex Biosciences Pvt. Ltd., AB Enzymes, Lumis, and Novozymes A/S.
About Allied Market Research:
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 offer business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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