Textile enzyme Market Expected to Reach $1,227.2 Million by 2030

According to a new published report by Allied Market Research titled, “Textile Enzyme Market by Type, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global textile enzyme market was valued at $672.3 million in 2020, and is projected to reach $1,227.2 million by 2030, growing at a CAGR of 6.3% from 2021 to 2030.

The use of enzymes in the textile industry is rapidly growing in industrial enzymology. Amylases, catalases, and laccase are the enzymes used in the textile industry to remove starch, degrade excess hydrogen peroxide, bleach fabrics, and degrade lignin. The use of enzymes in textile chemical processing is rapidly gaining global attention due to its non-toxic and eco-friendly features, which are becoming increasingly important as textile manufacturers attempt to reduce pollution in their operations.

Textile enzymes are convenient and increased use of fabric desizing and bio-polishing due to changing lifestyles are only a few of the significant factors driving the growth of global textile enzymes market. However, rise in initiatives to use organic compounds is projected to hamper the growth rate of global textile enzymes market.

The global textile enzyme market is segmented on the basis of type, application, and region. Based on the type, the global textile enzyme market is segmented into cellulase, amylase, catalase, pectinase, laccase, and others. The cellulase segment accounted for the largest share in 2020 and projected to witness growth at the highest CAGR of 6.6%.

Based on the application, the global textile enzyme market size is segmented into bio-polishing, desizing, enzymatic bleaching, bio scouring, and others. The bio-polishing segment accounted for the largest share in 2020 and projected to witness growth at the highest CAGR of 6.6%.

Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the largest textile enzyme market share in 2020, while Asia-Pacific was the fastest growing region.

The global textile enzyme market is consolidated in nature with a few players, such as AB Enzymes, BASF SE, E.I. du Pont de Nemours, Genotek Biochem, Koninklijke DSM N.V., Lumis, Maps Enzymes Ltd., Novozymes A/S, Refnol Resins & Chemicals Ltd., and Tex Biosciences Pvt.Ltd., which hold significant share of the market. These players have been adopting various strategies to gain higher share or to retain leading positions in the market.

Impact Of Covid-19 On The Global Textile Enzyme Market

• The COVID-19 pandemic has challenged the textile industry drastically in 2020. Asia, which is one of the largest markets for the textile industry in the world, has suffered from the prolonged lockdowns and restrictions in the majority of Asian countries along with the sudden drop in international demand for their products. The loss was particularly high in countries where the textile industry accounted for a larger share of the exports.
• Due to COVID-19 pandemic, transport limitations were implemented, resulting in reduced industrial production and disrupted supply chains, which affected global economic growth by a substantial proportion, severely impacting market growth.
• The companies are not earning any profit as a result of the work stoppage and not only the companies are losing money but they are also losing suppliers who are providing the required materials to various companies to be used in textile sector, all those suppliers are also facing huge losses.
• Firms are not earning any profit as a result of the work stoppage, and not only are the companies losing money, but so are all of the suppliers that provide the needed supplies to various companies for use in the construction sector.
• Furthermore, due to social distancing norms during COVID-19, the manufacturing companies are working with limited workforce; thus, negatively impacting the production and construction processes.

Key Findings Of The Study

• On the basis of type, the Cellulase segment emerged as the global leader by acquiring more than 30.3% of the market share in 2020, and is anticipated to continue this trend during the forecast period.
• On the basis of application, the bio-polishing segment emerged as the global leader by acquiring more than 28.6% of the market share in 2020, and is anticipated to continue this trend during the forecast period.
• On the basis of region, Asia-Pacific is the major consumer of textile enzyme among other regions. It accounted for around 47.6% of the global market share in 2020.