Global Levulinic Acid Market, By Technology (Biofine, Acid Hydrolysis), End user (Agriculture, Food, Beverages, Pharmaceuticals, Cosmetics and Personal Care), Application (Food Additives, Pharmaceuticals, Agricultural Products, Personal Care Products, Plasticizers, Fuel Additives) – Industry Trends and Forecast to 2029.
Global Levulinic Acid Market Analysis and Size
Levulinic acid is an organic compound that is obtained from cellulose degradation. It is also called Keto acid and is produced from brewery waste, manure, and biomass waste. Levulinic acid is considered a petroleum-based product replacement. Also, levulinic acid is being produced by furfuryl alcohol acidic hydrolysis and by the oxidation of ketones. The development of bio-based levulinic acid is increasing with the increasing research and development activities in various chemical industries. Levulinic acid and their salts are water-soluble and commonly used in beauty and personal care products, as approved by the U.S. Food and Drug Administration (FDA).
- 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.
Global Levulinic Acid Market Definition
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.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Technology (Biofine, Acid Hydrolysis), Application (Food Additives, Pharmaceuticals, Agricultural Products, Personal Care Products, Plasticizers, Fuel Additives)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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G.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), Great Chemicals Co. Ltd. (China), Anhui Herman Impex Co Ltd (China), DuPont (U.S.). The Valspar Corporation (U.S.), KCC Corporation (South Korea), Sherwin-Williams (U.S.), AkzoNobel (Netherlands), and Jotun A/S (Norway)
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Levulinic Acid Market Dynamics
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.
Opportunties
- Rise in Government Initiatives
Furthermore, the rise in initiatives taken by the government and support of public corporations for rodent control extends profitable opportunities to the market players in the forecast period of 2022 to 2029.
Additionally, increasing initiatives to reduce resource depletion and rising research activities extend profitable opportunities to the market players in the forecast period of 2022 to 2029.
Restraints/Challenges faced by the Levulinic Acid Market
- Strict environmental regulations
Strict environmental regulations because of the harmful effects caused by levulinic acid are acting as a market restraint for the growth of the levulinic acid market in the forecast period.
Also, complex method of production and high production cost are projected to challenge the levulinic acid market in the forecast period of 2022-2029.
This levulinic acid market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the levulinic acid market contact Data Bridge Market Research for an Analyst Brief, Our team will help you take an informed market decision to achieve market growth.
Recent Development
- In 2021, Brenntag, a global market leader in chemical and ingredients distribution, formed a distribution contract with NXTLEVVEL Biochem to develop its emerging Household, Industrial, and Institution (HI&I) portfolio in offering sustainable biobased solvents in the North America region. The present contract comprises the latest product line including the below product names and comprises levulinates and levulinate ketals. The products are bio-based solvents bringing sustainability, enhanced safety, and high performance.
COVID-19 Impact on Levulinic Acid Market
COVID 19 pandemic brought lots of burden to the global marketing sectors, and the global levulinic acid market is among them. In the first half of the year 2020, the worldwide lockdown has brought many challenges for the global market such as lack of transportation, shortage of workforce, less production, reduction in demands of the products, and many others. Henceforth, the major key players are giving their all efforts to increase the levulinic acid market's performance across the world.
Global Levulinic Acid Market Scope
The levulinic acid market is segmented on the basis of technology, end user and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Technology
- Biofine
- Acid hydrolysis
On the basis of technology type, levulinic acid market is segmented into biofine and acid hydrolysis.
End User
- Agriculture
- Food
- Beverages
- Pharmaceuticals
- Cosmetics and Personal Care
On the basis of end user, levulinic acid market is segmented into agriculture, food, beverages, pharmaceuticals, and cosmetics and personal care.
Application
- Food additives
- Pharmaceuticals
- Agricultural products
- Personal care products
- Plasticizers
- Fuel additives
Based on application, levulinic acid market is segmented into food additives, pharmaceuticals, agricultural products, personal care products, plasticizers and fuel additives.
Levulinic Acid Market Regional Analysis/Insights
The levulinic acid market is analyzed and market size insights and trends are provided by country, technology, end user and application as referenced above.
The countries covered in the levulinic acid market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the levulinic acid market due to the large market share of the U.S. and Canada in the development of the pharmaceutical and personal care industry and the rising working population and changing lifestyle in the region.
The Asia-Pacific region is expected to hold the largest growth rate during the forecast period of 2022 to 2029 due to the rising demand for pesticides in India and China.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Levulinic Acid Market Share Analysis
The levulinic acid market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to levulinic acid market.
Some of the major players operating in the levulinic acid market are:
- G.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)
- Great Chemicals Co. Ltd. (China)
- Anhui Herman Impex Co Ltd (China)
- DuPont (U.S.)
- The Valspar Corporation (U.S.)
- KCC Corporation (South Korea)
- Sherwin-Williams (U.S.)
- AkzoNobel (Netherlands)
- Jotun A/S (Norway)
Research Methodology : Global Levulinic Acid Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Expert Analysis, Import/Export Analysis, Pricing Analysis, Production Consumption Analysis, Climate Chain Scenario, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-levulinic-acid-market
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