Fermentation Chemicals Market Research to Witness Rapid Increase in Consumption During 2017 – 2027
Fermentation chemicals are a necessary ingredient in the manufacturing of green bio-based products. With stringent environmental regulations being imposed by regulatory authorities in developed regions such as Europe, the demand for these products is forecasted to increase many folds during the forecast period. Ecological concerns are expected to drive demand for the fermentation chemicals market since these chemicals are environment-friendly and can be adopted in a number of industrial applications. There has also been a rise in the demand for fermented alcohols globally, which is anticipated to propel the demand for fermentation chemicals as a raw material. For instance, the demand for fermentation chemicals has increased steadily due to its application as a raw material in the plastic, rubber, textile, leather and chemical industry. This trend is expected to continue in the near future, thereby driving the demand of fermentation chemicals globally.
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Regulations formulated by agencies such as the European Commission and EPA categorically encourage green chemistry, which in turn can be supported by the use of fermentation chemicals. Rising awareness among end-users regarding the benefits of using bio-based products has also been pushing the demand for fermentation chemicals. Owing to these factors, among many others, the fermentation chemicals market is forecasted to be an attractive market over the forecast period.
However, it should also be noted that raw materials used in the manufacturing of fermentation chemicals, such as micro-organisms and nutrients, represent an irregular supply in addition to the complex nature of the manufacturing process and the subsequent high production cost. Also, the economic viability of the usage of fermentation chemicals or rather, the global fermentation-based chemical industry would depend on the price levels of alternative feedstock and comparative product yields.
Fermentation chemicals, as the name suggests, are used in the fermentation process to help increase the pace of the process. They play a vital role as process initiators in an array of applications. They act as catalysts or process-enhancing chemicals and hence contribute in considerably reducing the manufacturing cost, chemical reaction time (fermentation time) as well as energy consumption; thus making the fermentation process more economically attractive. Owing to their natural structure, low cost and productivity enhancing features, fermentation chemicals find applications in a multiple of industries worldwide.
On the basis of product type, the global fermentation chemicals market is segmented as follows:
- Organic Acids
- Alcohols (Ethanol and Other Alcohols)
- Others (Antibiotics, Vitamins, Xanthan, etc.)
On the basis of application type, the global fermentation chemicals market is segmented as follows:
- Alcohol Industry
- Plastics & Fiber Industry
- Pharmaceutical & Nutritional Industry
- Food & Beverages Industry
- Other Industries
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Key Trends, Drivers
In the recent past, a large share of the global fermentation chemicals market has been contributed by alcohols, followed by enzymes and organic acids. Worldwide, there has been an increase in the manufacturing of antibiotics and steroids, which in turn involves the use of fermentation chemicals as a raw material. There has also been a burgeoning demand for fermentation chemicals in the form of enzymes from various manufacturing processes, such as in the manufacturing of paper, personal care products and starch.
It is forecasted that the demand for organic acids as fermentation chemicals will witness high growth in the upcoming years, owing to their increased application in oil and gas well treatment processes in the petroleum industry. Also, the growing market of preserved and nutritional foods involves the consumption of organic acids and hence is expected to boost demand for the organic acids segment yet further. Fermentation chemicals are also important raw materials in the manufacturing of pet food; hence, the rise in demand for animal feed additives worldwide is expected to further fuel the fermentation chemicals market.
Examples of some key market participants in the global fermentation chemicals market are as follows:
- Ajinomoto Company Incorporation
- BASF SE
- The Dow Chemical Company
- Novozymes A/S
- Cargill Inc.
- Evonik Industries
- Du Pont Danisco A/S
- Amano Enzyme Inc
- Archer Daniels Midland
- AB Enzymes
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