Fermentation chemicals market is anticipated to witness considerable growth in the forthcoming years, supported by a host of factors favorable to market growth.

Research Insights:  

The burgeoning demand for fermentation chemicals in the alcohol industry fuels the market expansion 

Fermentation chemicals are extensively used in various fermentation processes to fast-track their speed. These chemicals play an integral role as they act as vital process initiators in numerous applications. Fermentation chemicals, also known as process-enhancing chemicals, also act as catalysts to substantially reduce manufacturing costs, energy consumption, and chemical reaction time. On account of their natural structure, productivity-enhancing features, eco-friendliness, and low cost, these chemicals are considered economically viable and find widespread usage across numerous industrial sectors. Alcohol fermentation chemicals like ethanol, enzymes, hydrogen, and methane gases, and organic acids like lactic acid, gluconic acid, citric acid, and acetic acid are the most widely used fermentation chemicals. They play a vital role in the manufacture of products like beer, wine, yogurt, pickles, cheese, and bread. The alcohol industry is one of the largest end-users of these chemicals. For instance, ethanol is extensively required for the production of various types of alcoholic beverages, while lactic acid fermentation is an indispensable part of yogurt production. Moreover, fermentation chemicals are significantly required in the manufacture of green bio-based products. 

The global fermentation chemicals market is anticipated to witness considerable growth in the forthcoming years, supported by a host of factors favorable to market growth. Some of the predominant market growth-inducing factors include the rising demand for alcoholic beverages worldwide, the expanding food & beverages industry, the surging use of fermentation chemicals in various pharmaceutical, nutraceutical, and cosmetic products, growing awareness about the benefits of bio-based products, the increasing use of enzymes as active ingredients in the production of detergents and biofuels, rising demand for organic acids in processed foods and meat products, and the rising industrial applications of fermentation chemicals, especially in the cultivation of healthy bacteria.  Besides its use in the alcohol industry, ethanol finds significant usage as a sustainable fuel in vehicles, fuel additive in gasoline and paints & coatings, and a wide range of personal care products. However, high costs of fermentation of lactic acid hinder its use in the dairy industry, which is a significant restraint for the global fermentation and market growth.  

BASF SE, Cargill Inc., Novozymes A/S, The Dow Chemical Company, Archer Daniels Midland Company, Enzymes, DSM, Ajinomoto Co. Inc., Chr. Hansen A/S, and Evonik Industries AG are among the key competitors in the global fermentation chemicals market. Sumitomo Chemical Co. Ltd., the leading Japanese chemicals company, invested USD 30 million in the American biotechnology company Conagen in April 2020. Reportedly, with the latest investment, the Japanese company expanded its strategic business collaboration with Conagen. The two companies will together develop innovative functional products using synthetic biology and industrial fermentation processes. 

Read full Press Release at: https://www.reportsanddata.com/press-release/global-fermentation-chemicals-market

Surging adoption of wind energy as a renewable energy source is a key market driver

Wind turbines require routine maintenance to ensure the smooth functioning of the machinery for power generation. Thus, regular lubrication is highly essential for wind turbine maintenance. One of the most significant components of the wind turbine that is exposed to strong winds is the gearbox, which is usually located 300 feet high. The gearbox needs to be lubricated frequently to enhance its ability to withstand harsh environmental conditions like extreme temperatures and corrosion caused by saltwater exposure. Besides the gearbox, lubricants are essential for various other parts of a wind turbine, including the generator, main shaft, blades, pitch drives, and the yaw drive, to ensure their optimum performance and extend their life. The most widely used lubricants for wind turbines are gear oils, greases, and hydraulic fluids. The American oil industry major, Mobil, is known for its wide array of engine oils and lubricants. Its extensive line of wind turbine lubricants, known as Mobil™ SHC synthetic oils and greases, help accelerate wind turbine rotational speed and deliver optimal oil performance in various conditions, including offshore, onshore, and wet or dry conditions. 

The global lubricants for wind turbine market has gained massive traction over the past decade. Rising concerns regarding natural resource conservation and harmful greenhouse gas emissions have resulted in the extensive adoption of wind energy as a highly renewable source of energy for electricity generation. This, in turn, has boosted the wind power industry, thereby elevating the demand for wind turbine lubricants. The increasing installation of wind turbines, the booming wind energy sector, rapidly growing population, surging demand for electricity and power, fast-paced industrialization, rapid urbanization, and the growing government initiatives towards green power generation are the other key propellers for the global market expansion. However, the COVID-19 pandemic, which hit in at the start of this year, has brought about major disruptions in the wind energy sector by causing a long-term halt in global industrial activities due to the pandemic-induced lockdown. Thus, it has resulted in a considerable dip in demand for wind turbine lubricants, causing the global lubricants for the wind turbine market to lose pace.  

The global lubricants for wind turbine market is majorly concentrated in the Asia Pacific region. Market growth in this region is mainly attributed to the burgeoning demand for electricity, increasing populace, speedy industrialization, increasing government initiatives to promote renewable power generation, and hefty investments in the region’s offshore wind energy sector. For instance, the Renewable Energy Target (RET) is the Australian Government’s latest scheme designed to curb greenhouse gas emissions in the energy sector. With this program, the country aims to produce at least 20% of its electricity from renewable sources. Castrol, Exxon Mobil, Shell, Amsoil, Total, Petro China, Evonik Industries, Klüber Lubrication, Suzlon, CNOOC, PETRONAS, and OKS Spezialschmierstoffe GmbH are some of the key market contenders. These companies have adopted key business strategies, such as new product launches, partnerships, and acquisitions, to expand their market presence. In October 2020, the leading Danish wind turbine company, Vestas Wind Systems, launched a new wind turbine variant, V155-3.3MW, which is optimized for India’s low and ultra-low wind conditions.  

Read full press release at: https://www.reportsanddata.com/press-release/global-lubricants-for-wind-turbine-market