Biocatalysis and Biocatalysts Market Size

Biocatalysis & Biocatalysts Market size was over USD 637.79 Million in 2023 and is set to cross USD 1.18 Billion by the end of 2036, growing at more than 4.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of biocatalysis & biocatalysts is estimated at USD 665.92 Million. The favorable market environment for biocatalyst, and biocatalysis is being created by an increased emphasis on sustainability and environmental benefits. Moreover, biocatalyst is also biodegradable and renewable, by replacing the traditional chemical catalysts, which are frequently contaminated with dangerous substances and lead to toxic waste, and it is also possible to operate biocatalysts in mild conditions.

A fast uptake of biofuels technology has been achieved through these challenges and efforts on the part of policymakers and other stakeholders with higher fuel economy and fewer blending challenges, biofuels are being created using biotechnology which is boosting factor to grow the market of biocatalysis & biocatalyst. Biofuel energy, which accounts for 55 % of the world's electricity supply and more than 6% today, is currently the largest source of renewable energy.