The global redox enzymes market size is set to inflate speedily owing to the increasing research in the field of enzymatic biofuel cell technology, states Fortune Business Insights™ in its report, titled “Redox Enzymes Market, 2021-2028”. The adoption of sustainable, clean energy resources is gaining rapid traction worldwide and fuel cells powered redox enzymes can play a vital in aiding this transition. To test the effectiveness of these substances, targeted researches and experiments are being undertaken in different parts of the world.
In June 2018, for instance, researchers from Griffith University in Australia and the National Center for Nanoscience and Technology in China invented a novel method to improve electron transfer in enzymatic biofuel cells to increase their efficiency and extend their lifespan. In the same year, researchers at the Ruhr-University Bochum in Germany devised a gas diffusion electrode method to speed up redox enzyme reactions in hydrogenase fuel cells. Stoking innovation and development, these research studies are steadily brightening the prospects of this market.
Based on type, the global market has been divided into catalase, glucose oxidase, laccase, and others. On the basis of the application, this market has been segregated into food, beverages, detergents, pharmaceuticals, chemicals, industrial, and others. By region, the market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Highlights of the Report
The report provides a detailed examination of the factors driving the market, along with a microscopic study of all possible market segments. Apart from this, the report encompasses a comprehensive analysis of the regional prospects and competitive milieu of the market. Most importantly, the report contains a granular assessment of the various challenges facing the market.
Utilization of Enzymes in Energy Storage to Broaden Market Horizons
Storage of energy has remained a festering issue in the renewables sector, with battery storage solutions proving inefficient and insufficient to cope with the soaring demand. As a result, scientists have been continuously exploring and experimenting with novel materials and substances to provide an impetus to energy storage innovations. Redox enzymes have emerged as a potential solution and several notable studies have been conducted in the past few years to investigate their efficacy in redox flow batteries. For example, in June 2020, a team from the Massachusetts Institute of Technology (MIT) employed chitin, a polysaccharide found in shrimp shells, to create electrodes for a redox flow battery with a superior power density. In January 2020, researchers from Nanjing University, China successfully demonstrated the ability of a laccase enzyme found in a certain type of fungi to improve the internal kinetics in rechargeable lithium-air batteries. Evidence gathered from such researches will accelerate the adoption of redox enzymes in energy generation from renewables.
North America to Account for the Largest Market Share, Predicts Fortune Business Insights
Geographically, North America is expected to dominate the redox enzymes market share in the forthcoming years owing to the high demand for packaged foods and beverages in the region. In addition, the rising expenditure on healthcare and medical infrastructure will also support the regional market growth.
Asia Pacific is set to emerge as the fastest growing regional market on account of the increasing investments in pharmaceutical research and the robust chemical manufacturing capacity of China and India. Meanwhile, in Europe, the presence of large pharmaceutical companies and strong research infrastructure will propel the regional market.
Product Enhancements by Key Players to Bolster Market Innovation
Key players in this market are showcasing their innovation capabilities by designing, developing, and launching enhanced redox enzymes-based products. The intensely competitive environment created by these companies is also encouraging other market participants to innovate, augmenting the potential of this market in the process.
October 2020: BASF introduced the Cellulase Lavergy® C Bright 100 L, the company’s newest enzyme detergent formulation for homecare applications. Containing no preservatives, this enzyme operates effectively even in low temperatures and meets various eco-labeling criteria, such as Blue Angel and EU Ecolabel.
List of Key Players Identified in the Redox Enzymes Market Report:
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