Textile Enzymes Market to Observe Strong Development by 2026
The
global textile enzymes market was valued at US$ 201.5 Mn in 2017 and
is projected to expand at a CAGR of 4.0% from 2018 to 2026, according
to a new report published by Transparency Market Research (TMR)
titled ‘Textile Enzymes Market – Global Industry Analysis, Size,
Share, Growth, Trends, and Forecast, 2017–2025.’ The report
indicates that growth in clothing and fashion industries is likely to
augment the demand for textile enzymes from 2018 to 2026. Key players
are expanding their footprint in the textile market in Asia Pacific.
Thus, these players are anticipated to account for major share of the
global textile enzymes market during the forecast period. Increase in
disposable income and changing lifestyle of people in emerging
markets such as China and India are projected to boost the market in
Asia Pacific from 2018 to 2026.
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Report Overview @
Non-toxic
and Eco-friendly Characteristics of Enzymes to Drive Global Market
The
textile enzymes market is primarily driven by the rise in demand for
non-toxic and eco-friendly enzymes and increase in need to lower
pollution in the production of textiles. Additionally, changing
lifestyles and increase in disposable income of people are propelling
the demand for products containing textile enzymes. However, intense
competition among raw material suppliers of textile enzymes along
with high cost are restraining the global textile enzymes market.
Textile enzyme can be used as a direct substitute for synthetic
chemicals. This offers immense opportunities to the global textile
market.
Cellulase
Segment to Gain Market Share
The
report offers detailed segmentation of the global textile enzymes
market. The market has been segmented based on type and application.
In terms of type, the market has been classified into cellulase,
amylase, catalase, pectinase, laccase, and others. Cellulase held the
major share of the market in 2017 primarily due to the increase in
demand for smoother and glossier appearance of fabrics. In terms of
consumption, amylase enzyme followed cellulase enzyme due to the rise
in demand for desizing of denims and other apparels in the clothing
industry.
Bio-polishing
to be Highly Promising End-use Segment
Based
on application, the bio-polishing segment is projected to hold
dominant share of the global textile enzymes market during the
forecast period. Significant potential of the denim clothing sector
and advancements in textile manufacturing provide new growth
opportunities to players operating in the textile enzymes market. In
terms of revenue, the bio-polishing segment accounted for major share
of the market in 2017 owing to increase in demand for enhanced
processing and energy saving methods. Bio-polishing also enhances the
final product in terms of quality and appearance.
Asia
Pacific to Witness Significant Growth
In
terms of value, Asia Pacific held the prominent share of the global
textile enzymes market in 2017 due to the increase in industrial
output from the textile industry. Furthermore, Asia Pacific was a
rapidly growing region of the textile enzymes market in 2017. Rise in
investment in the textile industry in China and India is estimated to
boost the textile enzymes market. Rapid industrialization and
changing behavioral patterns among consumers are the key factors
boosting the market in Asia Pacific. China is the leading
manufacturer and consumer of textile enzymes in Asia Pacific.
Increase in concerns about wastewater management is estimated to
boost the demand for these enzymes in countries in Asia. The textile
enzymes market in Europe is expanding at a significant pace due to
the implementation of stringent regulations on the usage of chemicals
in the production of textiles. Similarly, the market in Middle East &
Africa and Latin America is expected to expand substantially during
the forecast period.
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Key
Players to Continue to Dominate Global Market
The
report also provides profiles of leading players operating in the
global textile enzymes market. These include AB Enzymes GmbH, Zytex
(India) Pvt. Ltd., Refnol Resins & Chemicals Ltd, Sunson Industry
Group Co., Ltd., Lumis, Maps Enzymes Ltd., and Genotek Biochem.
Expansion of portfolio of textile enzymes through improvement in
existing products and development of new products with enhanced
features is one of the key strategies adopted by several key players.
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