Biofuels are the renewable and sustainable source of fuels which are mainly formed by waste plant and animal matter. Biofuel enzymes are biological catalysts which alter and speed up the ongoing reactions and increases productivity, performance and environmental gains in the biofuels. Biofuel enzymes serve various applications in biodiesel, lignocellulosic ethanol, corn/starch based ethanol and others. Biofuel enzymes increase specificity and efficiency of products.
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Growing environmental concerns and increased government policies to form legislations for blending of biofuel have turned to be the prime driver in broadening the market for biofuel enzymes. In addition this market is driven by growth in end application markets i.e. growing consumption of biodiesel and bio-based ethanol which has helped in reduction in the cost of fuel and carbon dioxide emissions. Many sectors such as transport, power, chemical, domestic, agriculture have started utilizing these biofuel enzymes in their production line thus leading to the growth in market of the biological enzymes.
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One of major restrain to the growth of this market is the enzyme cost, which is used in the production of lignocellulosic biofuel. The upcoming opportunities in this market are commercialization of lignocellulosic ethanol, development of low cost enzymes for lignocellulosic biofuel and the fast growth in U.S. market due to mandatory practise of blending of biofuel.
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