Levulinic Acid Market Performance, Feasibility Key Players, Consumption Status, Production, Regions, Report 2018-2023

Levulinic acid Market
Levulinic acid Market Information 2018 to 2023 mainly focus on technology (acid hydrolysis production process, biofine), by the application (food additive, pharmaceuticals, cosmetic & personal care and others) and region – forecast till 2023

Market Overview: 2018 to 2023

The global levulinic acid market is spanned across five regions of the world namely, Latin America Asia Pacific, North America, Europe, and the Middle East & Africa. Among these, North America holds the major share of the global market and is projected to grow at a considerable CAGR during the forecast years. Some of the prominent players operating in the global levulinic acid market are Biofine International Inc. (U.S.), Avantium (Netherlands), GF Biochemicals Ltd. (Italy), Langfang Triple Well Chemicals Co. Ltd (China), Simagchem Corporation (China), Hefei TNJ Chemical Industry Co., Ltd. (China), Great Chemicals Co. Ltd. (China), and Anhui Herman Impex Co Ltd (China), DuPont (U.S.), and CSPC Pharmaceutical Group (China) among others.

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The growing urbanization and industrial development in the developing nations are the major factors driving the growth of the levulinic acid market. Moreover, adoption rate in the food industry coupled with the growing demand for cosmetic & personal products is expected to have a positive impact on the growth of the market. Furthermore, with the increasing working population, the demand for on-the-go food products are augmenting in the region, which, in turn, is adding to the market growth due to the extensive use of levulinic acid as food additives. Moreover, the presence of agrarian economies in the region such as India and China have further boosted the demand for levulinic acid as pesticides in the region. Europe is the second largest levulinic acid market and is expected to grow at a considerable CAGR during the forecast period owing to growing demand from pharmaceutical cosmetic & personal care industries.

Market by Application

Levulinic acid has a wide range of applications in end-user industries such as pharmaceuticals, cosmetics & personal care, agriculture, food, and beverages. The growing replacement of phthalate plasticizers by levulinic acid in the production of polyvinyl chloride (PVC) is the major factor driving the global market. Moreover, PVC is used in various applications such as construction and automobiles among other, hence, adding to the growth of the global levulinic acid market. Furthermore, the growing application of levulinic acid in the production of biofuel, pharmaceuticals, and pesticides among others is also fueling the market demand. Levulinic acid is used in cigarettes to enhance the nicotine content and as food additives. Among the various applications, the plasticizers segment is dominating the global market and is expected to same during the forecast years. The growing use of levulinic acid to add flexibility in plastics, especially in PVC’s is the key factor contributing to the growth of the segment. Furthermore, agriculture and pharmaceuticals segments are anticipated to grow at a CAGR of over 5% during the forecast years.

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Furthermore, the growing application of levulinic acid in the production of biofuel, pharmaceuticals, and pesticides among others is also fueling the market demand. Levulinic acid is used in cigarettes to enhance the nicotine content and as food additives. Among the various applications, the plasticizers segment is dominating the global market and is expected to same during the forecast years. The growing use of levulinic acid to add flexibility in plastics, especially in PVC’s is the key factor contributing to the growth of the segment. Furthermore, agriculture and pharmaceuticals segments are anticipated to grow at a CAGR of over 5% during the forecast years.

TABLE OF CONTENTS

10. Company Landscape

11. Company Profiles

11.1 Biofine International Inc

11.1.1 Company Overview

11.1.2 Application/Business Segment Overview

11.1.3 Financial Updates

11.1.4 Key Developments

11.2 Avantium

11.2.1 Company Overview

11.2.2 Application/Business Segment Overview

11.2.3 Financial Updates

11.2.4 Key Developments

………..to be continue…….

Segmentation

The global levulinic acid market is segmented into technology and application. On the basis of the technology, the market is segregated into the acid hydrolysis production process, and biofine production process and others. The market by the application is further segmented into food additive, pharmaceuticals, cosmetic and personal care, agriculture, plasticizers, and others.

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