Title: Farnesene Market Size, Share, Report, 2023 | Fractovia
1Farnesene Market Global Industry Analysis
Report, Share, Size, Growth, Price Trends and
Forecast, 2016 2023
Fuel Cell Market size worth 25.5bn by 2024
2Overview
- Farnesene Market size was projected at more than
8 kilo tons for 2015 with a predicted CAGR of
greater than 27 by 2023. Production of biofuel
was predicted at more than 69 kilo tons of oil
equal for 2014. Heavy focus on growing use of
biofuel in automobile and aviation segment to
prevent carbon emissions will promote farnesene
market trend. - Key important rules like FQD (Fuel Quality
Directive), CAAFI (Commercial Aviation
Alternative Fuels Initiative) and RFS2 (Renewable
Fuel Standard) setup by European Union to drive
the demand use of biofuel in aviation segment. - Biomass derived jet diesel fuels may be
utilized as cost effective and drop-in
substitution for traditional fuels. U.S EPA
(United States Environmental Protection Agency)
has approved the farnesene extracted renewable
diesel for blending up to 35.1 with no sulphur
constituents.
3Product Trends
- American Society for testing and materials (ASTM)
has also changed its standards for renewable
farnesene utilization blended with jet fuels in
aviation. ASTM certified fuels have no technical
issues related with flights nor do they have
security concerns. All these factors have
promoted the demand and growth of the global
farnesene industry. - However, key feedstock and sugarcane industry can
be adversely affected by unsuited climatic
conditions and this can hinder the growth of the
global farnesene market. Further, sugarcane
manufactured in Brazil contributes for more than
half of ethanol production. All these are the key
aspects accountable for fluctuations in the
farnesene market price trends. Also, alternate
bio jet fuels like hydrogen peroxide (HPO) and
high efficiency particulate arrestance (HEPA)used
in aviation sector bio jet fuels may hinder the
industry growth.
4Application Trends
- Farnesene industry is segmented into various
applications like cosmetics personal care
applications and performance material
applications. - Cosmetics personal care application segment led
the industry with demand evaluated at more than
12 million for 2015. The farnesene industry size
may grow due to rise in Squalene demand. - Performance material application segment is
predicted to register CAGR of over 40 by end of
forecast period. High purity derived item can be
utilized in production and is currently tested by
firms in their performance formulations and
security procedures. For instance, polymerized
farnesene can easily react with tire rubber and
attain strong adhesion of rubber parts for
enhancing shape and performance stability.
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6Regional Trends
- Europe farnesene market generated more than 15
million revenue for 2015.Heavy focus on utilizing
sustainable products derived from biomass along
with ecological measures taken to eradicate green
house gas emissions is predicted to stimulate the
demand for farnesene in the region. Europe is
dominated by France, Germany and UK farnesene
market. - APAC is predicted to expand substantially and
register 28 CAGR during forecast timeframe. Rise
in per capita disposable expenditure ability
along with presence of many big production firms
may promote the demand in the region during
forecast period. - Latin America, led by Brazil, predicts heavy
gains during forecast timeframe. Favourable
weather conditions to produce sugarcane crops all
over the year in North east as well as Centre
South of Brazil can positively affect the
product demand in Latin America.
7Europe farnesene market share, by application,
2015
8Competitive Trends
- Key industry players profiled in the report
include IFF,Kuraray, Intrexon Corporation, Total,
Amyris Incorporation and Chromatin Incorporation. - Global farnesene industry is led by Amyris
Incorporation which utilises yeast to produce
through biotechnology method.Firms like IFF,
Total and Kuraray have partnered with Amyris to
produce target molecule for using it in relative
applications like fragrances, fuel, flavours and
tire. - Intrexon has acquired laboratory scale production
method through methane bioconversion while
chromatin has created sorghum plant with enhanced
product level by using gene stacking procedure.
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