Farnesene Market Size is expected to surpass USD 480 million over 2016-2023

Farnesene market size is expected to surpass USD 480 million by 2023, and is driven by high demand for biofuels in automotive and aeronautics sectors to prevent environmental pollution. For instance, legislations such as FQD (Fuel Quality Directive), CAAFI (Commercial Aviation Alternative Fuels Initiative), RFS2 (Renewable Fuel Standard), etc. in EU, is expected to contribute considerably towards the growing popularity of biofuels in the aviation sector, thereby promoting farnesene market growth over the coming years.

Furthermore, its heavy demand across fuels & lubes, cosmetics & personal care, flavors & fragrances, and performance materials sectors will further boost Farnesene industry trends over the coming years. In addition to this, EPA has favored the use of cost-effective farnesene based renewable fuel across various industries which will propel farnesene market size over the coming years.

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Farnesene market share in cosmetics & personal care sector worth USD 12 million in 2015, is predicted to grow noticeably, driven by increasing demand for farnesene derived squalene as a vital ingredient in moisturizers and anti-ageing cream preparations. Its application in performance material sector is expected to grow substantially over 2016-2023, owing to high demand for polymerized farnesene across automotive & transport sectors.

Europe farnesene market price estimated at USD 15 million in 2015, is expected to witness a high growth over the coming years. The growth can be credited to its growing use in performance materials and cosmetics sectors. UK, Germany, and France are projected to be major regional revenue pockets.

Asia Pacific farnesene industry size is expected to grow significantly over the timeframe, owing to high purchasing power along with large scale chemical plant establishments in the region. China and India are expected to make significant regional revenue contributions.

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Latin America farnesene market revenue is projected to grow significantly over the next few years, driven by rising product popularity among the consumers. Brazil is anticipated to make significant contributions towards the regional share.

Market players will try to increase their revenue through strategic collaborations & partnerships. For instance, Amyris is leading farnesene market share, and is predicted to continue its domination in future by engaging in large scale production of the compound as well as capacity additions. It has collaborated with Kuraray, Total, and IFF firms to develop a target molecule to be used in polymers, biojet diesels, and flavors & fragrances. Key industry participants include Total S.A, Amyris, Intrexon Corporation, Kuraray Company, Chromatin Incorporation, and IFF Corporation.

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