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Industrial Fermentation Chemicals Market Trends

ID: MRFR//10793-CR | 128 Pages | Author: Anshula Mandaokar| October 2023

Global Industrial Fermentation Chemicals Market Overview

Industrial Fermentation Chemicals Market Size was valued at USD 69,598.66 million in 2022. The Industrial Fermentation Chemicals industry is projected to grow from USD 72,347.27 million in 2023 to USD 1,11,659.03 million by 2030, exhibiting a compound annual growth rate (CAGR) of 6.40% during the forecast period (2023 - 2030). The growing usage of fermentation chemicals in specialty chemical manufacture is driving the Industrial Fermentation Chemicals Market. The growing incorporation of the fermentation process into the field of specialty chemical synthesis signifies a significant paradigm shift in how these molecules are created. Fermentation chemicals can be employed in the production of a wide range of specialized compounds. Because of its versatility, fermentation is an enticing option for businesses looking to diversify their product offerings. Fermentation procedures may be optimized to control yield, purity, and production rate.  Furthermore, the increased usage of alcohol in numerous industrial verticals is projected to propel market expansion. Alcohol has emerged as a versatile and sought-after molecule due to its distinctive and distinct properties, which support its wide range of applications in a number of industries. Alcohol's expanding use in a range of industries, including cosmetics and personal care, textiles and apparel, biochemicals, biofuels, and energy, highlights its relevance as a versatile and vital molecule.

Industrial Fermentation Chemicals Market Overview

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Industrial Fermentation Chemicals Market Trends

  • Increasing demand of fermentation chemicals in specialty chemicals manufacturing

The specialty chemical industry has grown rapidly in recent years, owing to a convergence of forces that is altering industries and consumer preferences. This expansion has been marked by innovations, shifting market dynamics, and a greater emphasis on sustainability and performance. The changing customer demand is one of the key factors of this expansion. Modern customers are increasingly interested in items that provide more than simply fundamental functions. According to Statista, the global market for specialty chemicals is predicted to grow from USD 588.2 billion in 2020 to about USD 895 billion by 2028. With expanding uses of specialized chemicals in numerous sectors, this is projected to fuel demand for industrial fermentation chemicals.

The increasing inclusion of the fermentation process into the field of specialty chemical synthesis represents a significant paradigm change in the way these molecules are produced. This has significantly driven the demand for industrial fermentation chemicals in the sector.  This dominant trajectory is supported by a confluence of variables, most notably advances in biotechnology, imperatives founded in sustainability, and the imperative for pioneering, high-value commodities. At the foundation of this change is the unparalleled potential of fermentation as a manufacturing technology. Fermentation chemicals can be used in processing a variety of specialty compounds. Fermentation is an appealing choice for producers wishing to broaden their product offers due to its adaptability. Fermentation techniques may be fine-tuned to manage yield, purity, and production pace. This degree of control is especially beneficial for creating high-purity specialty chemicals with uses in sectors like biochemicals and electronics. The use of fermentation chemicals in the specialty chemicals production business was a developing trend driven by the quest for more ecologically friendly and sustainable operations. Fermentation techniques use biological systems to manufacture a wide range of specialized chemicals, which can be more resource-efficient and produce fewer toxic by-products than typical chemical synthesis.

In October 2023, BASF SE announced that it plans to build a new fermentation plant for producing crop protection products at its Ludwigshafen site. The objective of this move is to improve the existing biological seed treatment and fungicide products by manufacturing them in this facility.

Rising use of alcohol in various industrial verticals

Alcohol has evolved as a versatile and sought-after molecule due to its unique and distinct qualities, which back its vast variety of uses across numerous sectors. Solvency is a basic property of alcohol. Its extraordinary capacity to dissolve a wide range of polar and non-polar compounds makes it a vital solvent in a variety of procedures. Another attribute that helps to alcohol's extensive use is its high evaporation rate. Furthermore, alcohol has sanitizing and antibacterial effects. Its compatibility with a variety of chemicals, as well as its capacity to function as a carrier, contribute to its role in improving active ingredient distribution. The increasing usage of alcohol in a variety of industries, including cosmetics and personal care, textiles and clothing, biochemicals, biofuels, and energy, emphasizes its importance as a flexible and necessary molecule, leading to significant growth of industrial fermentation chemicals market. This pattern represents the dynamic interaction of changing consumer demands, technical improvements, and the strive for sustainability.

Alcohol's adaptability extends to biochemicals, where it is used as a building component in the production of diverse substances. Ethanol, in particular, is an important solvent and reagent in pharmaceutical, agrochemical, and specialty chemical manufacturing. The trend toward bio-based solutions, on the other hand, is transforming the landscape of alcohol use. Bioethanol, which is made from renewable feedstocks such as maize and sugarcane, has emerged as a viable alternative to petroleum-derived alcohols. The uses of bioethanol go beyond biochemicals and include the manufacture of biofuels and renewable chemicals. This change shows the industry's commitment to lowering its environmental impact and boosting the use of renewable resources. This has led to growing significance of industrial fermentation chemicals market in industrial sector.

ADM and Solugen announced in October 2023 that they would be partnering together to produce plant-based specialty chemicals, which include fermentation chemicals, at ADM’s corn-processing facility in Minnesota. According to the company, these bio-based building block molecules are also expected to serve agriculture, cleaning, personal care and energy sectors, among other specialty chemicals.

Growing preference towards bio-based feedstock over fossil-based feedstock

The increased preference for bio-based feedstock over fossil-based feedstock is opening a large market expansion potential for the global industrial fermentation chemicals sector. The worldwide urge to embrace more sustainable and ecologically responsible practices across numerous industries, ranging from energy and chemicals to materials and consumer products, is driving this transformation. Fermentation chemicals are developing as a critical option that corresponds with the rising need for bio-based feedstock as companies explore alternatives to lower their carbon footprint and reliance on depleting fossil resources. Renewable sources of bio-based feedstock include agricultural products, forestry leftovers, and organic waste. The use of these feedstocks in fermentation processes has intrinsic environmental benefits, such as lowering greenhouse gas emissions and contributing to the circular economy. Bio-based feedstock fermentation often involves the conversion of sugars and other organic resources into useful products such as biofuels, biochemicals, and bioplastics. This technique produces fewer carbon emissions than fossil-based feedstock, making it a more sustainable alternative for a world focused on climate change mitigation.

Industrial Fermentation Chemicals Market Segment Insights

Industrial Fermentation Chemicals by Type Insights

The Industrial Fermentation Chemicals Market segmentation, based on type has been segmented as Alcohols, Amino Acids, Enzymes, Organic Acids and Others. The Alcohols segment is further categorized into Ethanol and Others. Among these, the Alcohols segment is projected to dominate the Industrial Fermentation Chemicals Market revenue through the projected period. The energy sector has witnessed a rising demand for alcohol-based solutions, driven by the need for renewable and sustainable energy sources. Ethanol is an important component of biofuels such as ethanol-blended gasoline. This mix minimizes not just greenhouse gas emissions but also dependency on fossil fuels. Furthermore, alcohol-based fuels have received interest due to their potential in fuel cell technology. Methanol, for example, may be used as a feedstock for the manufacture of synthetic fuels and hydrogen, potentially providing solutions for sustainable energy storage and transportation. As the globe ramps up efforts to address climate change and migrate to cleaner energy sources, the use of alcohol-based biofuels and alternative energy solutions is likely to increase.

Industrial Fermentation Chemicals Regional Insights

Based on Region, the Industrial Fermentation Chemicals market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. The North America Industrial Fermentation Chemicals market held the maximum market share and is also expected to account for a significant revenue share during the forecast period. The rising pharmaceutical and biotech sector in North America will positively impact the market of industrial fermentation chemicals as these industries rely heavily on industrial fermentation for the production of various biopharmaceuticals, vaccines, and specialty chemicals. Furthermore, Industrial fermentation is used in the production of biofuels such as ethanol and biochemicals. The focus on renewable and sustainable energy sources has led to increased demand for biofuels, and this trend is contributing to the growth of the fermentation chemicals market in the region.

Industrial Fermentation Chemicals Key Market Players & Competitive Insights

Key market players are emphasizing significantly on R&D for increasing their product offerings, which will further help the Industrial Fermentation Chemicals Market to grow considerably. Market players are adopting several business development strategies such as acquisitions, mergers, collaborations, and partnerships to enhance their market presence and acquire a larger customer base. To survive in the competitive market, industry players must provide cost effective products.

The Industrial Fermentation Chemicals market is very competitive with market players trying to develop unique and innovative products and solutions, which could render the competitors’ offerings obsolete. The competitive environment is likely to grow further owing to rising technological advancements. Some of the key players operating in the Industrial Fermentation Chemicals Market are BASF SE, Cargill, Incorporated, AB Enzymes, Amano Enzyme Inc., ADM, Ajinomoto Co., Inc, Novozymes, Chr. Hansen A/S, DuPont de Nemours, Inc, and Evonik Industries AG. To increase their global reach and client base, key firms are concentrating on acquisitions and product innovation.

BASF SE: BASF SE is a chemical manufacturer. It manufactures, markets, and sells chemicals, plastics, crop protection products, and performance products. Solvents, adhesives, surfactants, fuel additives, electronic chemicals, pigments, paints, food additives, fungicides, and herbicides are among its products. Construction, furniture and wood, agriculture, electronics and electrical, paints and coatings, automotive, home care, nutrition, chemicals, and other industries are served by the company. BASF conducts R&D in collaboration with global customers, scientists, and partners. The company operates through a global network of manufacturing facilities. Its operations span Europe, Asia Pacific, South America, Africa, the Middle East, and North America.

Cargill, Incorporated: Cargill, Incorporated is an agribusiness company that offers food, financial products, agricultural, industrial, and risk management services. It markets, processes, and distributes grains, oilseeds, sugar, meat, and other food products, as well as cotton. Natural ingredients are also produced for the personal care industry, pet food, animal feed, and bio-industrial products. Technical support, data asset solutions, transportation and logistics services, risk management services, and marketing services are all offered by the company. Furthermore, the company manufactures and distributes starch and starch sweeteners, as well as fuel ethanol and biodiesel. Cargill sells feed and pet food under several brands, including Nutrena, Provimi, Cargill, EWOS, Diamond V, and Purina. It operates in the Americas, Europe, and the Middle East.

Evonik has recently inaugurated a production facility for rhamnolipids in January 2022. This marks an important step forward because it becomes the first commercial-scale production of these bio-based and completely biodegradable surfactants, which are expected to find use mainly within the cosmetics & personal care industry, where demand is growing rapidly due to increasing awareness about sustainability issues related to chemical substances used there traditionally. Therefore, this establishment reflects not only on our commitment towards meeting customer needs but also demonstrates how much attention we pay nowadays towards environment protection concerns associated with various sectors such as this one too - says Dr Hildebrandt.

Key Companies in the Industrial Fermentation Chemicals Market includes

  • BASF SE (Germany)

  • Cargill, Incorporated (US)

  • AB Enzymes (Germany)

  • Amano Enzyme Inc. (Japan)

  • ADM (US)

  • Ajinomoto Co., Inc (Japan)

  • Novozymes (Denmark)

  • Hansen A/S (Denmark)

  • DuPont de Nemours, Inc, (US)

  • Evonik Industries AG (Germany)

Industrial Fermentation Chemicals Industry Developments

July 2022: Novozymes introduced Innova Apex and Innova Turbo to the Innova platform. Innova Apex and Turbo are tailored to work in specific fermentation times, enabling ethanol producers to maximize their fermentation process to achieve their desired production targets and business goals.

October 2021: ADM announced making a leading equity investment in Acies Bio, a Slovenia-based biotechnology company specializing in R&D and manufacturing services for developing and scaling synthetic biology and precision fermentation technologies for food, agriculture and industrial applications.

Industrial Fermentation Chemicals Market Segmentation

Industrial Fermentation Chemicals Type Outlook

  • Alcohols

    • Ethanol

    • Others

  • Amino Acids

  • Enzymes

  • Organic Acids

  • Others

Industrial Fermentation Chemicals Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Russia

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia & New Zealand

    • Rest of Asia Pacific

  • Latin America

    • Brazil

    • Mexico

    • Rest of Latin America

  • Middle East & Africa

    • GCC Countries

    • South Africa

    • Rest of the Middle East & Africa

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