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A brief outline of global Farnesene Market through a regional frame of reference, global industry remuneration to cross USD 480mn by 2023

Author : Rahul Sankrityayan | Published Date : 2019-04-05 

The professional and high quality report features in-depth market analysis on the global Farnesene industry. It initially provides an outlook of industry with the basic information such as definitions, application, classification, and technology etc.

Moreover, it explores global market on the basis of application, products, region and competitive landscape. The report also lists key company profiles, market share, business strategies, financial metrics, forecast and estimations in terms of volume and value, coupled with key aspects that influence the market including impediments, challenges, opportunities and drivers, etc.

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Increase in global biofuel production and usage owing to increased usage in automobiles and aviation sector to reduce carbon dioxide emissions is expected to have appositive impact on the market growth during the forecast period. Performance material applications are poised to experience significant growth over 40% CAGR by 2023.

Increasing use of ingredients derived through biotechnological route or from vegetable oil rather than animal sources is likely to drive market growth. Factors like use of alternative bio fuels, alteration in top feedstock harvest that is sugarcane are likely to hinder the market growth.

Cosmetic & personal care application dominated the demand and accounted for over 35% of the total demand. Farnesene derived squalene, through biotechnological route, is used as a useful ingredient in anti-ageing and moisturizing cream formulations.

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Strong cosmetics growth expected from Europe and Asia Pacific market may promote farnesene demand and boost squalene market size. Cosmetics companies are shifting focus to use ingredients derived from vegetable or biotechnological route instead of animal sources owing to consumer perception, which may promote market growth.

Hydrogenated Esters and Fatty Acids (HEFA) and FT (Fischer-Tropsch) based on biomass are alternative biofuels considered to be used in aviation sector, proves to be a major challenge for market growth. Variation in key feedstock harvest, sugarcane, owing to unfavorable weather conditions may affect farnesene market price trend.

Europe, led by Germany and UK, dominated the regional industry and accounted for over 42% of the total demand. Performance material applications in Europe are set to grow at a significant pace at above 45% CAGR and register over USD 65 million by 2023.

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North America flavors & fragrances application should grow significantly, at above 26% CAGR, and register over USD 30 million in revenue by 2023.

Global farnesene market share is presently dominated by Amyris, the company ias already engaged in commercial production, with capacity additions announced for 2017. Amyris has collaborated with some industrial partners including Total, IFF and kuraray to develop target molecule for relative applications such as biojet fuels, fragrances and polymers.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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