Biocatalysis and Biocatalysts Market Share

North America Market Statistics

North America industry is anticipated to hold largest revenue share of 34% by 2037. The use of biocatalysts to produce biochemicals, biofuels, and other biomaterial have been playing a significant role in waste reduction which is making them very effective for use in the chemical industry of this region. Even in 2018 the total volume of municipal solid waste produced was 292.4 million tons, in the US. short tons except specified or 4.9 pounds per person per day. Approximately 69 million tons of waste materials have been recycled and 25 million tons are composted as a result of MSW production.

Europe Market Analysis

The biocatalysis & biocatalysts market in the Europe region is expected to hold a notable share in the upcoming years. This could be due to a high level of political regulation in many EU countries which are pushing for the increased use of environmentally friendly resources instead of fossil fuels and reducing GHG emissions. Currently, hydrolase is the biggest type of biocatalyst and accounts for more than 90% of the total market in Europe, the world's largest contributor to climate change, with more than 75 percent of global greenhouse gas emissions and nearly 90 percent of all carbon dioxide emissions.