Global Levulinic Acid Market was valued at US$ 18.96 Mn in 2017 and is expected to reach US$ 58 Mn by 2026, at a CAGR of 15 % during a forecast period.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding levulinic acid market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focus on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies and regional presence. The report also provide PEST analysis, PORTER’s analysis, SWOT analysis to address question of shareholders to prioritizing the efforts and investment in near future to emerging segment in levulinic acid market.
Levulinic acid is an organic compound which is supposed to replace petroleum based products, in sectors such as chemical industry and bio-fuel among others, in the forecast period. It has been classified as a keto acid and is usually produced from brewery waste, biomass and manure. Levulinic acid can also be manufactured by acidic hydrolysis of furfuryl alcohol, by hydrolyzing acetyl succinate esters and by ozone based oxidation of ketones. It is a white granular solid and is also called as 4-oxopentanoic acid. It is also formed by using heating sucrose along with concentrated acid. Levulinic acid dissolve in water, diethyl ether and ethanol but is insoluble in aliphatic hydrocarbons.
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Levulinic acid is widely used for manufacturing of PVC which is a better alternative for phthalate plasticizers which is factor is expected to drive the market during the forecast period. PVC is mostly used in the manufacturing of different products in different industries such as packaging, healthcare, automotive, and others. Levulinic acid is less toxic as compared to phthalate plasticizers that can cause health concerns for children. It is also used as pesticides and additives in the biofuel production and pharmaceutical industry. Levulinic acid is also used in cigarettes to improve the nicotine content. Increasing investment on the R&D of manufacturing technology is projected to open new growth opportunities in forecasted period.
Based on technology, market is segmented into biofine production process and acid hydrolysis production process.
In terms of application, plasticizers segment is expected to lead the levulinic acid market during the forecast period. Levulinic acid has extensive range of applications in end-user industries such as pharmaceuticals, cosmetics & personal care, agriculture, food, and beverages. The rising demand of replacement of phthalate plasticizers by levulinic acid in the production of polyvinyl chloride (PVC) is the key factor driving the global market. Furthermore, PVC is used in various applications such as construction and automobiles among other, therefore, adding to the growth of the global levulinic acid market.
Geographically, North America holds a major market and is projected to be the fastest growing market during the forecast years. North America followed by Europe are expected to show steady growth during the forecast period. The developed personal care and pharmaceutical industry are driving the market in North America in last few years. Additionally, the fast paced lifestyle and the growing working population have improved the demand for convenience food in the region, which further spur the demand for levulinic acid as food additives. Europe is the second largest levulinic acid market and is likely to grow at a considerable CAGR during the forecast timeframe due to growing demand from pharmaceutical cosmetic & personal care industries.
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The Scope of Global Levulinic Acid Market:
Global Levulinic Acid Market, by Technology:
• Acid Hydrolysis
• Biofine
Global Levulinic Acid Market, by Application:
• Plasticizers
• Pharmaceuticals
• Cosmetics
• Others
Global Levulinic Acid Market, by Region:
• North America
• Europe
• Middle East & Africa
• Asia Pacific
• South America
Key Players Operating In Global Levulinic Acid Market:
• Biofine International Inc.
• Avantium
• GF Biochemicals Ltd.
• Langfang Triple Well Chemicals Co. Ltd
• Simagchem Corporation
• Hefei TNJ Chemical Industry Co., Ltd.
• Great Chemicals Co. Ltd.
• Anhui Herman Impex Co Ltd
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MAJOR TOC OF THE REPORT
Chapter One: Levulinic Acid Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Levulinic Acid Market Competition, by Players
Chapter Four: Global Levulinic Acid Market Size by Regions
Chapter Five: North America Levulinic Acid Revenue by Countries
Chapter Six: Europe Levulinic Acid Revenue by Countries
Chapter Seven: Asia-Pacific Levulinic Acid Revenue by Countries
Chapter Eight: South America Levulinic Acid Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Levulinic Acid by Countries
Chapter Ten: Global Levulinic Acid Market Segment by Type
Chapter Eleven: Global Levulinic Acid Market Segment by Application
Chapter Twelve: Global Levulinic Acid Market Size Forecast (2019-2026)
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