Europe Fermentation Chemicals Market By Application (Industrial, Plastics & Fibers, Food and Beverages, Pharmaceutical and Nutritional and Other Applications) By Product (Alcohols, Organic Acid, Enzymes and Other Products)
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The Europe Fermentation Chemicals Market would witness market growth of 5% CAGR during the forecast period (2019-2025). The Industrial market dominated the Europe Fermentation Chemicals Market by Application in 2018, and would continue to be a dominant market till 2025; thereby, achieving a market value of $7182.3 Million by 2025, growing at a CAGR of 4.5 % during the forecast period. The Plastics & Fibers market is expected to witness a CAGR of 6.3% during (2019 - 2025).
The EU countries' representatives settled to the proposals from Commission for additional reduction in exposure of workers to 2 chemical substances raising too high concern, on recommendations by ECHA. The conclusion will accommodate companies that have applied for the usage of chromium trioxide, because of its carcinogenic attributes, to apply stringent risk management process for different usage of the substance in the aerospace, automotive and other industries.
It also provides such companies a maximum of seven years to review the accessibility of harmless replacements when possible. The REACH committee also followed the proposal from Commission to castoff the approval for continuous usage of sodium dichromate, which is also a carcinogenic material by a organization utilizing the same for treatment of micro-surgical devices.
Similarly, EU is now calling for rules on chemicals in inks utilized for printing on food packaging. As a matter of fact paper is second most widely used packaging material. In addition to the planned ban on single-use plastics by 2021, EU is raising safety concerns over paper straw.
The fermentation process is also used to produce enzymes for industrial applications and involves the usage of microorganisms such as bacteria and yeast. Many industries need enzymes for the production of enzyme dependent products cheese making, baking, brewing and wine making. Enzymes find its wide application in chemical sector and various other industrial applications especially where the requirement is of extremely specific catalysts.
The report highlights the adoption of Fermentation Chemicals in Europe. Based on Application, the market is segmented into Industrial, Plastics & Fibers, Food and Beverages, Pharmaceutical and Nutritional and Other Applications. Based on Product, the market is segmented into Alcohols, Organic Acid, Enzymes and Other Products. The report also covers geographical segmentation of Fermentation Chemicals market. The countries included in the report are Germany, UK, France, Russia, Spain, Italy and Rest of Europe. For the better analysis, the geographies are segmented into countries.
The major market players expanding their reach in the Europe Fermentation Chemicals market are Novozymes A/S, Koch Industries, Inc. (Invista BV), The Dow Chemical Company, BASF SE, Archer Daniels Midland Company, Cargill Corporation, Chr. Hansen Holding A/S, Koninklijke DSM N.V, Ajinomoto Co. Inc. and Evonik Industries AG (RAG-Stiftung).
Scope of the Fermentation Chemicals Market Analysis
- Plastics & Fibers
- Food and Beverages
- Pharmaceutical and Nutritional
- Other Applications
- Organic Acid
- Enzymes and
- Other Products
- Rest of Europe
- Novozymes A/S
- Koch Industries, Inc. (Invista BV)
- The Dow Chemical Company
- BASF SE
- Archer Daniels Midland Company
- Cargill Corporation
- Chr. Hansen Holding A/S
- Koninklijke DSM N.V
- Ajinomoto Co. Inc. and
- Evonik Industries AG (RAG-Stiftung)
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