Levulinic acid also known as 4-oxopentanoic acid is a class of keto acid. It is a white crystalline solid which is soluble in polar organic solvents and water. Levulinic acid can be synthesized by high temperature acid hydrolysis of some carbohydrates, such as glucose, fructose, galactose, chitose, and sucrose as well as from biomeric material such as starch, wood, and agricultural wastes. Levulinic acid is derived from degradation of cellulose and is a crucial precursor to biofuels such as ethyl levulinate. It is a versatile chemical with incredible potential to replace petroleum-based products in the chemical and biofuel industry.
MARKET DYNAMICS
The global levulinic acid market is growing at a significant pace owing to driving factors such as increasing demand for levulinic acids from cosmetics, plasticizers, and pharmaceuticals, industries. Levulinic acid's naturally occurring form Delta-amino levulinic acid (DALA) is used in manufacturing herbicides in lawns and farms. It also finds uses as plant growth stimulator. Leluvinic acid is also used in cigarettes for binding nicotine to neutral receptors. It is used by pharmaceutical industries to produce non-steroidal anti-inflammatory drug such as calcium levulinate and indomethacin to treat fever. The widespread uses of levulinic acids in end-use industries is expected to spur the growth of the levulinic acid in the forecast period. However, the development of cost-efficient processes for manufacturing levulininc acid at large industrial scale is still in its infant stage. Presently the production of levulinic acid from maleic anhydride is very expensive and limits its uses in low volume applications such as food additives and fragrances. For Levulinic acid derived from bio-based sources to gain acceptance, major companies will have to produce them at lower cost and identify new uses and applications.
MARKET SCOPE
The "Global Levulinic acid Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the levulinic acid market with detailed market segmentation by applications, process, and geography. The global levulinic acid market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading levulinic acid market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global levulinic acid market is segmented on the basis of applications and process. On the basis of application, the levulinic acid market is segmented into, agriculture, cosmetics, food & beverages, pharmaceuticals, and others. Based on process, the global levulinic acid market is segmented into, acid hydrolysis production process and biofine production process.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global levulinic acid market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The levulinic acid market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the levulinic acid market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the levulinic acid market in these regions.
MARKET PLAYERS
The reports cover key developments in the levulinic acid market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from levulinic acid market are anticipated to lucrative growth opportunities in the future with the rising demand for levulinic acid in the global market. Below mentioned is the list of few companies engaged in the levulinic acid market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the levulinic acid market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Avantium Inc.
- BioFine International US Inc.
- Bio-On SpA
- E. I. du Pont de Nemours and Company
- GFBiochemicals Ltd.
- Heroy Chemical Industry Co., Ltd
- Parchem fine & specialty chemicals.
- Segetis, Inc.
- Simagchem corp
- TCI Chemicals (India) Pvt. Ltd.
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