The global levulinic acid market exhibited moderate growth during 2015-2020. Looking forward, the market is expected to grow at a CAGR of around 5% during the forecast period (2021-2026), according to the latest report by IMARC Group.
Levulinic, or crystalline keto acid, is an organic compound that is found in white crystalline solid form and is soluble in ethanol, diethyl ether, and water. It is obtained from levulose, insulin, or starch by boiling them with dilute hydrochloric or sulfuric acid.
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Market Trends
Levulinic acid finds applications across various industries ranging from the pharmaceutical, construction and cosmetic to agrochemical, and food and beverage industries. In the construction industry, phthalate plasticizers are being replaced with levulinic acid for the production of polyvinyl chloride (PVC), as levulinic acid adds flexibility to the product. It is also used in cigarettes to enhance nicotine content. Other than this, the sodium salt of levulinic acid is utilized as a preservative and a skin conditioning agent in cosmetics and personal care products. Apart from this, the usage of levulinic acid has increased in agrichemicals, such as fertilizers, herbicides and pesticides, as a green alternative to sulfuric acid. Moreover, the constant research and development (R&D) in the field of chemistry and biotechnology have resulted in the development of bio-based levulinic acid, which is expected to create a positive outlook for the market in the upcoming years.
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The report has segmented the market on the basis of technology, end-use industry, form and geography.
Breakup by Technology:
Acid Hydrolysis
Biofine
Breakup by End-Use Industry:
Agriculture Industry
Pharmaceutical Industry
Food Industry
Cosmetics Industry
Others
Breakup by Form:
Liquid
Solid
Breakup by Geography:
North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Avantium Chemicals B.V., Biofine International Inc., Dupont De Nemours Inc., GFBiochemicals, Great Chemical Co. Ltd., Hefei TNJ Chemical Industry Co. Ltd., Langfang Triple Well Chemicals Co. Ltd., Sigma-Aldrich Corporation, Simagchem Corporation, Tokyo Chemical Industry Co. Ltd., etc.
Key highlights of the report:
Market Performance (2015-2020)
Market Outlook (2021- 2026)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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