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I AgreeOngoing depletion of fossil fuels and lack of alternatives to replace compounds produced by oil has fueled the demand for levulinic acid. Meanwhile, there is a growing awareness about biomass being used for the production of alternative fuels and several chemicals, such as bioethanol and levulinic acid, which are pervasively diminishing reliance on oil. Hence, manufacturers in the levulinic acid market are leveraging opportunities in countries of Asia Pacific and Latin America, since agribusiness is one of the key sources of revenue in these countries. Thus, abundance of biomass in these regions, especially Asia Pacific, has led to exponential growth of the region, as the levulinic acid market matures in the coming decade.
In terms of application, the agriculture segment of the levulinic acid market is estimated to reach a production of ~1,300 tons by the end of 2022. Apart from agriculture, manufacturers are tapping into opportunities to manufacture chemical compounds used in the development of additives of fluids, oils, plastics, fragrances, etc.
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Different types of microalgae are being commercially used for the production of phycocolloids, and have potential for the production of nutraceuticals and pharmaceutical products. Sustainable use of macroalgal biomass for the production of cosmetics and thickening agents in food are bolstering credibility credentials of companies in the global landscape. Thus, the environment-friendly way of energetic valorization of food wastes has helped to increase the production of levulinic acid.
Awareness about the advantages of microalgae has created a stir in the pharmaceutical landscape. As such, the pharmaceuticals application segment of the in the levulinic acid market is projected for aggressive growth during the forecast period. The segment is anticipated to account for the second-highest revenue of ~US$ 8.6 Mn by 2027. On the other hand, manufacturers in the levulinic acid market are using the novel compound for the production of organic matter and materials such as soil fertilizers and pet food formulations. Regulatory support has been instrumental for the emergence of efficacious drug formulations involving levulinic acid.
Eco-conscious Cosmetics Formulators Benefit from Natural Preservatives
Levulinic acid is gaining prominence in the personal care & cosmetics industry. Moreover, cosmetics application segment is anticipated for exponential growth during the forecast period and is creating revenue opportunities for companies in the levulinic acid market. For instance, Troy Corporation - a manufacturer of performance materials, announced the launch of TroyCare™ LSB1 - an innovative preservative used in personal care and cosmetic products.
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In order to gain credibility in the global market landscape, personal care companies are increasing R&D to streamline their production activities so that their products gain the approval of regulatory authorities. They are increasing their production efficacy to develop preservatives that are based on natural ingredients to cater to specific needs of environmental-conscious consumers. Since more number of companies are becoming eco-conscious formulators, the trend of natural preservatives is gaining much appreciation by personal care companies.
Levulinic acid is growing popular as promising bio-based building blocks for the chemical industry. However, lack of technological development according to the market demand has emerged as a challenge for manufacturers in the levulinic acid market. For instance, there is a need for technological innovation for low-cost direct production of levulinic acid from biomass.
Excellent versatility and high potential for low-cost production of levulinic acid from biomass has gained the attention of manufacturers. Hence, manufacturers in the levulinic acid market are becoming aware about this technological gap and are thus, are increasing their efficacy in production-related technological innovations. In order to meet the expectations of end users in fuel and chemical industries, companies are adopting novel production techniques by using furfuryl alcohol for direct production of levulinic acid from biomass.
Ongoing developments are surfacing to reduce production costs, which will eventually help to create increased demand for levulinic acid in the coming years. Potential derivatives such as levulinic esters and oligomers for transport fuels are likely to trigger market growth.
Analysts’ Viewpoint
The levulinic acid market is consolidated with five leading players accounting for more than 70% of the market share. This poses as a challenge for emerging players who are increasing efforts to innovate in biomass for the production of levulinic acid. Thus, companies should increase research to advance in the technological front to reduce costs associated with the production of levulinic acid using furfuryl alcohol.
Companies are focusing on establishing economically and environmentally sustainable systems for conversion of biomass to increase availability of alternatives to fossil fuels. They should adopt cost-effective extraction and purification of levulinic acid through one-stage conversion using microwave radiation of softwood and hardwood waste.
Levulinic Acid Market: Overview
Key Drivers of Levulinic Acid Market
Major Challenges for Levulinic Acid Market
Lucrative Opportunities for Levulinic Acid Market
Asia Pacific to Dominate Levulinic Acid Market
High Demand for Levulinic Acid in Agriculture
Joint Ventures and R&D Activities to Remain Key Strategies
Levulinic Acid Market: Segmentation
Application |
Agriculture Plasticizers Cosmetics Food & Beverages Pharmaceuticals Others (including Fuels & Fuel Additives, Resins & Coatings, Anti-freezing Agents, and Textile) |
Region |
North America Latin America Asia Pacific Europe Middle East & Africa |
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1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Levulinic Acid Market
4. Market Overview
4.1. Introduction
4.2. Key Market Indicators/Definitions
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunities
4.4. Global Levulinic Acid Market Analysis and Forecast, 2018–2027
4.4.1. Global Levulinic Acid Market Volume (Tons)
4.4.2. Global Levulinic Acid Market Value (US$ Thousand)
4.5. Porters Five Forces Analysis
4.6. Value Chain Analysis
4.7. Regulatory Landscape
4.8. List of Manufacturers
4.9. List of Potential Customers
5. Global Production Output Analysis, by Region, 2018
6. Pricing Analysis, 2018
6.1. Price Comparison Analysis, by Application
6.2. Price Comparison Analysis, by Region
7. Global Levulinic Acid Market Analysis and Forecast, by Application
7.1. Introduction
7.2. Global Levulinic Acid Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2017–2027
7.2.1. Agriculture
7.2.2. Plasticizers
7.2.3. Pharmaceutical
7.2.4. Cosmetics
7.2.5. Food & Beverages
7.2.6. Others (Including Resins & Coatings, Fuel & Fuel Additives, Anti-freezing Agents, and Textile)
7.3. Global Levulinic Acid Market Attractiveness, by Application
8. Global Levulinic Acid Market Analysis and Forecast, by Region
8.1. Key Findings
8.2. Global Levulinic Acid Market Volume (Tons) and Value (US$ Thousand) Forecast, by Region, 2019–2027
8.3. Global Levulinic Acid Market Attractiveness, by Region
9. North America Levulinic Acid Market Analysis and Forecast
9.1. Key Findings
9.2. North America Levulinic Acid Market Overview
9.3. North America Levulinic Acid Market Forecast, by Application, 2018–2027
9.4. North America Levulinic Acid Market Forecast, by Country, 2018–2027
9.4.1. U.S. Levulinic Acid Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2018 2027
9.4.2. Canada Levulinic Acid Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2018–2027
9.5. North America Levulinic Acid Market Attractiveness Analysis
10. Europe Levulinic Acid Market Analysis and Forecast
10.1. Key Findings
10.2. Europe Levulinic Acid Market Overview
10.3. Europe Levulinic Acid Market Forecast, by Application, 2018–2027
10.4. Europe Levulinic Acid Market Forecast, by Country and Sub-region, 2018–2027
10.4.1. Germany Levulinic Acid Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2018–2027
10.4.2. U.K. Levulinic Acid Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2018–2027
10.4.3. France Levulinic Acid Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2018–2027
10.4.4. Italy Levulinic Acid Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2018–2027
10.4.5. Spain Levulinic Acid Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2018–2027
10.4.6. Russia & CIS Levulinic Acid Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2018–2027
10.4.7. Rest of Europe Levulinic Acid Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2018–2027
10.5. Europe Levulinic Acid Market Attractiveness Analysis
11. Asia Pacific Levulinic Acid Market Analysis and Forecast
11.1. Key Findings
11.2. Asia Pacific Levulinic Acid Market Overview
11.3. Asia Pacific Levulinic Acid Market Forecast, by Application, 2018–2027
11.4. Asia Pacific Levulinic Acid Market Forecast, by Country and Sub-region, 2018–2027
11.4.1. China Levulinic Acid Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2018–2027
11.4.2. Japan Levulinic Acid Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2018–2027
11.4.3. India Levulinic Acid Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2018–2027
11.4.4. ASEAN Levulinic Acid Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2018–2027
11.4.5. Rest of Asia Pacific Levulinic Acid Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2018–2027
11.5. Asia Pacific Levulinic Acid Market Attractiveness Analysis
12. Latin America Levulinic Acid Market Analysis and Forecast
12.1. Key Findings
12.2. Latin America Levulinic Acid Market Overview
12.3. Latin America Levulinic Acid Market Forecast, by Application, 2018–2027
12.4. Latin America Levulinic Acid Market Forecast, by Country and Sub-region, 2018–2027
12.4.1. Brazil Levulinic Acid Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2018–2027
12.4.2. Mexico Levulinic Acid Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2018–2027
12.4.3. Rest of Latin America Levulinic Acid Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2018–2027
12.5. Latin America Levulinic Acid Market Attractiveness Analysis
13. Middle East & Africa Levulinic Acid Market Analysis and Forecast
13.1. Key Findings
13.2. Middle East & Africa Levulinic Acid Market Overview
13.3. Middle East & Africa Levulinic Acid Market Forecast, by Application, 2018–2027
13.4. Middle East & Africa Levulinic Acid Market Forecast, by Country and Sub-region, 2018–2027
13.4.1. GCC Levulinic Acid Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2018–2027
13.4.2. South Africa Levulinic Acid Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2018–2027
13.4.3. Rest of Middle East & Africa Levulinic Acid Market Volume (Tons) and Value (US$ Thousand) Forecast, by Application, 2018–2027
13.5. Middle East & Africa Levulinic Acid Market Attractiveness Analysis
14. Competition Landscape
14.1. Global Levulinic Acid Market Share Analysis, by Company, 2018
14.2. Company Profiles
14.2.1. GFBiochemicals Ltd.
14.2.1.1. Company Description
14.2.1.2. Business Overview
14.2.2. Biofine Technology LLC
14.2.2.1. Company Description
14.2.2.2. Business Overview
14.2.3. Tokyo Chemical Industry Co., Ltd.
14.2.3.1. Company Description
14.2.3.2. Business Overview
14.2.4. Hefei TNJ Chemical Industry Co. Ltd.
14.2.4.1. Company Description
14.2.4.2. Business Overview
14.2.5. Godavari Biorefineries Ltd.
14.2.5.1. Company Description
14.2.5.2. Business Overview
14.2.5.3. Financial Details
14.2.5.4. Strategic Overview
14.2.6. Haihang Industry Co., Ltd.
14.2.6.1. Company Description
14.2.6.2. Business Overview
14.2.7. Aurochemicals
14.2.7.1. Company Description
14.2.7.2. Business Overview
14.2.8. Avantium
14.2.8.1. Company Description
14.2.8.2. Business Overview
14.2.8.3. Financial Details
14.2.8.4. Strategic Overview
14.2.9. Simagchem Corporation
14.2.9.1. Company Description
14.2.9.2. Business Overview
14.2.10. Central Drug House
14.2.10.1. Company Description
14.2.10.2. Business Overview
List of Tables
Table 01: Global Levulinic Acid Market Volume (Tons) Forecast, by Application, 2018–2027
Table 02: Global Levulinic Acid Market Value (US$ Thousand) Forecast, by Application, 2018–2027
Table 03: Global Levulinic Acid Market Volume (Tons) Forecast, by Region, 2018–2027
Table 04: Global Levulinic Acid Market Value (US$ Thousand) Forecast, by Region, 2018–2027
Table 05: North America Levulinic Acid Market Volume (Tons) Forecast, by Application, 2018–2027
Table 06: North America Levulinic Acid Market Value (US$ Thousand) Forecast, by Application, 2018–2027
Table 07: North America Levulinic Acid Market Volume (Tons) Forecast, by Country, 2018–2027
Table 08: North America Levulinic Acid Market Value (US$ Thousand) Forecast, by Country, 2018–2027
Table 09: U.S. Levulinic Acid Market Volume (Tons) Forecast, by Application, 2018–2027
Table 10: U.S. Levulinic Acid Market Value (US$ Thousand) Forecast, by Application, 2018–2027
Table 11: Canada Levulinic Acid Market Volume (Tons) Forecast, by Application, 2018–2027
Table 12: Canada Levulinic Acid Market Value (US$ Thousand) Forecast, by Application, 2018–2027
Table 13: Europe Levulinic Acid Market Volume (Tons) Forecast, by Application, 2018–2027
Table 14: Europe Levulinic Acid Market Value (US$ Thousand) Forecast, by Application, 2018–2027
Table 15: Europe Levulinic Acid Market Volume (Tons) Forecast, by Country and Sub-region, 2018–2027
Table 16: Europe Levulinic Acid Market Value (US$ Thousand) Forecast, by Country and Sub-region, 2018–2027
Table 17: Germany Levulinic Acid Market Volume (Tons) Forecast, by Application, 2018–2027
Table 18: Germany Levulinic Acid Market Value (US$ Thousand) Forecast, by Application, 2018–2027
Table 19: U.K. Levulinic Acid Market Volume (Tons) Forecast, by Application, 2018–2027
Table 20: U.K. Levulinic Acid Market Value (US$ Thousand) Forecast, by Application, 2018–2027
Table 21: France Levulinic Acid Market Volume (Tons) Forecast, by Application, 2018–2027
Table 22: France Levulinic Acid Market Value (US$ Thousand) Forecast, by Application, 2018–2027
Table 23: Italy Levulinic Acid Market Volume (US$ Thousand) Forecast, by Application, 2018–2027
Table 24: Italy Levulinic Acid Market Value (US$ Thousand) Forecast, by Application, 2018–2027
Table 25: Spain Levulinic Acid Market Volume (Tons) Forecast, by Application, 2018–2027
Table 26: Spain Levulinic Acid Market Value (US$ Thousand) Forecast, by Application, 2018–2027
Table 27: Russia & CIS Levulinic Acid Market Volume (Tons) Forecast, by Application, 2018–2027
Table 28: Russia & CIS Levulinic Acid Market Value (US$ Thousand) Forecast, by Application, 2018–2027
Table 29: Rest of Europe Levulinic Acid Market Volume (Tons) Forecast, by Application, 2018–2027
Table 30: Rest of Europe Levulinic Acid Market Value (US$ Thousand) Forecast, by Application, 2018–2027
Table 31: Asia Pacific Levulinic Acid Market Volume (Tons) Forecast, by Application, 2018–2027
Table 32: Asia Pacific Levulinic Acid Market Value (US$ Thousand) Forecast, by Application, 2018–2027
Table 33: Asia Pacific Levulinic Acid Market Volume (Tons) Forecast, by Country and Sub-region, 2018–2027
Table 34: Asia Pacific Levulinic Acid Market Value (US$ Thousand) Forecast, by Country and Sub-region, 2018–2027
Table 35: China Levulinic Acid Market Volume (Tons) Forecast, by Application, 2018–2027
Table 36: China Levulinic Acid Market Value (US$ Thousand) Forecast, by Application, 2018–2027
Table 37: Japan Levulinic Acid Market Volume (Tons) Forecast, by Application, 2018–2027
Table 38: Japan Levulinic Acid Market Value (US$ Thousand) Forecast, by Application, 2018–2027
Table 39: India Levulinic Acid Market Volume (Tons) Forecast, by Application, 2018–2027
Table 40: India Levulinic Acid Market Value (US$ Thousand) Forecast, by Application, 2018–2027
Table 41: ASEAN Levulinic Acid Market Volume (Tons) Forecast, by Application, 2018–2027
Table 42: ASEAN Levulinic Acid Market Value (US$ Thousand) Forecast, by Application, 2018–2027
Table 43: Rest of Asia Pacific Levulinic Acid Market Volume (Tons) Forecast, by Application, 2018–2027
Table 44: Rest of Asia Pacific Levulinic Acid Market Value (US$ Thousand) Forecast, by Application, 2018–2027
Table 45: Latin America Levulinic Acid Market Volume (Tons) Forecast, by Application, 2018–2027
Table 46: Latin America Levulinic Acid Market Value (US$ Thousand) Forecast, by Application, 2018–2027
Table 47: Latin America Levulinic Acid Market Volume (Tons) Forecast, by Country and Sub-region, 2018–2027
Table 48: Latin America Levulinic Acid Market Value (US$ Thousand) Forecast, by Country and Sub-region, 2018–2027
Table 49: Brazil Levulinic Acid Market Volume (Tons) Forecast, by Application, 2018–2027
Table 50: Brazil Levulinic Acid Market Value (US$ Thousand) Forecast, by Application, 2018–2027
Table 51: Mexico Levulinic Acid Market Volume (Tons) Forecast, by Application, 2018–2027
Table 52: Mexico Levulinic Acid Market Value (US$ Thousand) Forecast, by Application, 2018–2027
Table 53: Rest of Latin America Levulinic Acid Market Volume (Tons) Forecast, by Application, 2018–2027
Table 54: Rest of Latin America Levulinic Acid Market Value (US$ Thousand) Forecast, by Application, 2018–2027
Table 55: Middle East & Africa Levulinic Acid Market Volume (Tons) Forecast, by Application, 2018–2027
Table 56: Middle East & Africa Levulinic Acid Market Value (US$ Thousand) Forecast, by Application, 2018–2027
Table 57: Middle East & Africa Levulinic Acid Market Volume (Tons) Forecast, by Country and Sub-region, 2018–2027
Table 58: Middle East & Africa Levulinic Acid Market Value (US$ Thousand) Forecast, by Country and Sub-region, 2018–2027
Table 59: GCC Levulinic Acid Market Volume (Tons) Forecast, by Application, 2018–2027
Table 60: GCC Levulinic Acid Market Value (US$ Thousand) Forecast, by Application, 2018–2027
Table 61: South Africa Levulinic Acid Market Volume (Tons) Forecast, by Application, 2018–2027
Table 62: South Africa Levulinic Acid Market Value (US$ Thousand) Forecast, by Application, 2018–2027
Table 63: Rest of Middle East & Africa Levulinic Acid Market Volume (Tons) Forecast, by Application, 2018–2027
Table 64: Rest of Middle East & Africa Levulinic Acid Market Value (US$ Thousand) Forecast, by Application, 2018–2027
List of Figures
Figure 01: Global Levulinic Acid Market Volume Share, by Application, 2018 and 2027
Figure 02: Global Levulinic Acid Market Volume Share, by Region, 2018 and 2027
Figure 03: Global Agrochemical Overview
Figure 04: Global Medicine Spending and Growth (US$ Bn), 2009–2023
Figure 05: Growth of Global Cosmetics Industry over 10 Years
Figure 06: Global Levulinic Acid Market Volume (Tons) and Value (US$ Mn), 2018–2027
Figure 07: Global Levulinic Acid Market, Absolute $ Opportunity (US$ Mn), 2018–2027
Figure 08: Global Levulinic Acid Pricing Analysis (US$/Ton), by Application, 2018–2027
Figure 09: Global Levulinic Acid Pricing Analysis (US$/Ton), by Region, 2018–2027
Figure 10: Global Levulinic Acid Market Volume Share Analysis, by Application, 2018 and 2027
Figure 11: Global Levulinic Acid Market Attractiveness Analysis, by Application
Figure 12: Global Levulinic Acid Market Volume Share Analysis, by Region, 2018 and 2027
Figure 13: Global Levulinic Acid Market Attractiveness Analysis, by Region
Figure 14: North America Levulinic Acid Market Volume Share Analysis, by Application, 2018 and 2027
Figure 15: North America Levulinic Acid Market Attractiveness Analysis, by Application
Figure 16: North America Levulinic Acid Market Volume Share Analysis, by Country, 2018 and 2027
Figure 17: North America Levulinic Acid Market Attractiveness Analysis, by Country
Figure 18: Europe Levulinic Acid Market Volume Share Analysis, by Application, 2018 and 2027
Figure 19: Europe Levulinic Acid Market Attractiveness Analysis, by Application
Figure 20: Europe Levulinic Acid Market Volume Share Analysis, by Country and Sub-region, 2018 and 2027
Figure 21: Europe Levulinic Acid Market Attractiveness Analysis, by Country and Sub-region
Figure 22: Asia Pacific Levulinic Acid Market Volume Share Analysis, by Application, 2018 and 2027
Figure 23: Asia Pacific Levulinic Acid Market Attractiveness Analysis, by Application
Figure 24: Asia Pacific Levulinic Acid Market Share Volume Analysis, by Country and Sub-region, 2018 and 2027
Figure 25: Asia Pacific Levulinic Acid Market Attractiveness Analysis, by Country and Sub-region
Figure 26: Latin America Levulinic Acid Market Volume Share Analysis, by Application, 2018 and 2027
Figure 27: Latin America Levulinic Acid Market Attractiveness Analysis, by Application
Figure 28: Latin America Levulinic Acid Market Volume Share Analysis, by Country and Sub-region, 2018 and 2027
Figure 29: Latin America Levulinic Acid Market Attractiveness Analysis, by Country and Sub-region
Figure 30: Middle East & Africa Levulinic Acid Market Volume Share Analysis, by Application, 2018 and 2027
Figure 31: Middle East & Africa Levulinic Acid Market Attractiveness Analysis, by Application
Figure 32: Middle East & Africa Levulinic Acid Market Volume Share Analysis, by Country and Sub-region, 2018 and 2027
Figure 33: Middle East & Africa Levulinic Acid Market Attractiveness Analysis, by Country and Sub-region
Figure 34: Global Levulinic Acid Market Share Analysis, by Company, 2018
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