Textile Enzyme Market Revolutionizing Business Growth with Future Market Size

The global textile enzyme market is segmented based on type, application, and region. In terms of type, the cellulase segment dominated the market in 2020

WILMINGTON, DELAWARE, UNITED STATES, April 19, 2024 /EINPresswire.com/ — The global textile enzyme market, as per the report from Allied Market Research, reached an estimated value of $672.3 million in 2020 and is anticipated to reach $1.22 billion by 2030, with a projected compound annual growth rate (CAGR) of 6.3% from 2021 to 2030. The report offers a comprehensive analysis covering top investment opportunities, winning strategies, market drivers, opportunities, size estimations, competitive landscape, and evolving market trends.

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The market growth is primarily propelled by the increase in textile production and the significant benefits associated with textile enzymes. However, the escalating cost of textile enzymes acts as a growth restraint. Nonetheless, the growing utilization of enzymes in fabric designing and bio-polishing presents lucrative opportunities for industry players.

The COVID-19 pandemic had a detrimental impact on the market due to transport restrictions, reduced industrial production, disrupted supply chains, and workforce limitations. Nevertheless, as global conditions improve, the market is expected to rebound.

The global textile enzyme market is segmented based on type, application, and region. In terms of type, the cellulase segment dominated the market in 2020, while the amylase segment is forecasted to exhibit the fastest CAGR of 7.1% during the forecast period. By application, the bio-polishing segment held the largest share in 2020, with the desizing segment expected to grow at a rapid CAGR of 7.0% from 2021 to 2030.

Geographically, Asia-Pacific led the market in 2020, capturing nearly half of the global market share, and is projected to witness the fastest CAGR of 6.6% by 2030. Other regions analyzed in the report include North America, Europe, and LAMEA.

Key players in the global textile enzyme market, such as BASF SE, E.I. du Pont de Nemours, Genotek Biochem., Koninklijke DSM N.V., Refnol Resins & Chemicals Ltd., AB Enzymes, Tex Biosciences Pvt. Ltd., Lumis, Maps Enzymes Ltd., and Novozymes A/S, have implemented various strategies like partnerships, expansions, collaborations, and joint ventures to strengthen their position in the industry.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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