San Francisco, 31 December 2019: The Report Fermentation Chemicals Market Size, Share & Trends Analysis Report By Product (Alcohols, Enzymes), By Application (Industrial, Plastic, Pharmaceutical), By Region, And Segment Forecasts, 2019 – 2025
The global fermentation chemicals market size is projected to reach USD 85.77 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 5.6% during the forecast period. Rapid industrialization in the BRICS nation is expected to remain a key growth driver.
Energy, plastics, pharmaceuticals, and food and beverage are some of the manufacturing sectors where fermentation chemicals are used widely. Rising demand for Polytrimethylene Terephthalate (PTT) acts as a major driver for rising product consumption in plastic manufacturing. PDO and lactic acid are anticipated to be the principal beneficiaries of this strong growth, though other fermentation chemicals are expected to benefit, as the market for biodegradable plastics expands.
Brazil, Russia, India, China, and South Africa (BRICS) has witnessed high production industrial growth, directly impacting demand for fermentation chemicals. These markets registered high industrial production growth over the period and remain one of the fastest-growing industrial regions across the globe. Major growth drivers for the manufacturing sector in these markets include favorable foreign investment norms, availability of large pool of skilled labor, and technological know-how.
Access Research Report of Fermentation Chemicals Market @ https://www.grandviewresearch.com/industry-analysis/fermentation-chemicals-market
Further key findings from the report suggest:
- Alcohol was the largest product segment, with a market share of over 50% in 2018. Increase in use of alcohols in industry application is expected to trigger the demand
- Plastics and fibers is anticipated to witness the fastest CAGR of 5.6% from 2019 to 2025 owing to rising demand for bio-degradable plastics
- Using green chemistry to manufacture of fermentation chemicals is the most efficient and practical way of reducing greenhouse effect. The Environmental Protection Agency (EPA) and the European Union have established stringent regulations which are expected to positively propel the product demand due to its environment-friendly properties
- Germany was one of the major countries in Europe with a global market share of around 11% to 12% in 2018. The demand is driven by technological advancements in chemical manufacturing accompanied with an increasing focus on development of biodegradable plastics
- Some of the key players in the fermentation chemicals market include The Dow Chemical Company; Evonik Industry; Cargill Inc.; Archer Daniels Midland; BASF SE; DuPont Danisco A/S; and Ajinomoto.
Browse more reports of this category by Grand View Research at: https://www.grandviewresearch.com/industry/organic-chemicals-and-compounds
Grand View Research has segmented the global fermentation chemicals market on the basis of product, application, and region.
Fermentation Chemicals Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
- Alcohols
- Enzymes
- Organic Acid
- Others
Fermentation Chemicals Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
- Industrial
- Plastic & Fibers
- Pharmaceuticals and Nutritional
- Food and Beverages
- Others
Fermentation Chemicals Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Access Press Release of Fermentation Chemicals Market @ https://www.grandviewresearch.com/press-release/global-fermentation-chemicals-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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