The global biofuel enzymes market, currently estimated at $1 trillion, will grow at a CAGR of 7.6% over five years, driven by growing consumption of biodiesel and increased legislation for the blending of biofuel, says Transparency Market Research.
North America is the largest biofuel enzymes market, with Asia Pacific expected to have the greatest near-term growth potential.
The market is being driven by the growing consumption of biodiesel and bio-based ethanol, as well as increased legislation pushing the blending of biofuel, leading to a reduction in carbon emissions.
To read the full report by Transparency Market Research, click here