Data Bridge Market Research analyses that the levulinic acid market was valued at USD 27.58 in 2021 and is expected to reach USD 93.65 million by 2029, at a CAGR of 14.17% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

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Levulinic acid is a white crystalline solid that is soluble in water and organic solvents. It's an organic compound that is derived from cellulose degradation. Levulinic Acid is also commonly known as a keto acid. It is superseding petroleum-based products in many different industries like biofuel. Generally, it is produced from manure, brewery waste, and biomass. The production process of this acid includes acidic hydrolysis of furfuryl alcohol, hydrolyzing acetyl succinate esters, and ozone-based oxidation of ketones.

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Key Growth Drivers: Drivers

Growing pharmaceutical industry

Rising demand from pharmaceutical industry for the preparation of drugs because of growing number of disease and infections around the globe are also increasing and it is driving the levulinic acid market.

Increasing investment

The surging investment for the development of advanced and innovative products is also rising, accelerating the levulinic acid market.

Additionally, increasing usage of levulinic acid as a replacement of petroleum based products, increasing degradation of bio-based production methods, surging investment for the development of advanced and innovative products also positively affect the levulinic acid market.

Report Scope:

1. Analysis of market trends influencing the   beverage stabilizers market's growth.

2. Examination of trends within key regional and country-level markets based on type, function, and application.

3. Providing a comprehensive overview of the Dye-Sensitized Solar Cell market.

4. Evaluation of historical, current, and projected market sizes in terms of volume and value.

5. Offering a neutral perspective on market performance.

6. Essential information for market players seeking to maintain and expand their market presence.

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Key players:

• F. Biochemicals Ltd. (Italy)

• Langfang Triple Well Chemicals Co. Ltd (China)

• Biofine International Inc. (U.S.)

• Avantium (Netherlands)

• Simagchem Corporation (China)

• Hefei TNJ Chemical Industry Co., Ltd. (China)

• CSPC Pharmaceutical Group (China)

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