The Global Biofuel Enzymes Industry is Expected to Reach USD 1,653.1 Million in 2018: Transparency Market Research

The Global Biofuel Enzymes Industry is Expected to Reach USD 1,653.1 Million in 2018: Transparency Market Research PR Newswire ALBANY, New York, November 12, 2012 ALBANY, New York, November 12, 2012 /PRNewswire/ -- According to a new market report published by Transparency Market Research (http://www.transparencymarketresearch.com) "Biofuel Enzymes Market- Global Industry Size, Market Share, Trends, Analysis and Forecast, 2012 - 2018," the global biofuel enzymes demand was worth USD 1,021.9 million in 2011 and is expected to reach USD 1,653.1 million in 2018, growing at a CAGR of 7.6% from 2013 to 2018. In the overall global market, North America is the largest market; however Asia Pacific is expected to be the most promising market in the near future. Browse the full report at http://www.transparencymarketresearch.com/biofuel-enzymes-market.html The global biofuel enzymes market is mainly driven by growth in end application markets i.e. growing consumption of biodiesel and bio-based ethanol. In addition, increasing awareness about sustainability and changing economics of fossil fuels is forcing governments to form legislations for blending of biofuel. This has helped in reduction in the cost of fuel as well as reduction of carbon dioxide emissions. All this resulted in rising consumption of biofuel and thus the growing market for biofuel enzymes. With respect to type, the biofuel enzyme market includes amylases, industrial lipases and others.