Levulinic Acid Market - Global Industry Analysis, Size, Share, 2023.

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Levulinic Acid Market - Global Industry
Analysis, Size, Share, Growth, Trends
And Forecast 2015 - 2023
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REPORT DESCRIPTION
Transparency Market Research Reports incorporated a definite business overview and investigation inclines on Levulinic Acid
Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast 2015 - 2023. This report likewise
incorporates more illumination about fundamental review of the business including definitions, requisitions and worldwide
business sector industry structure.
Levulinic acid, also known as 4-oxopentanoic acid, is an organic compound derived from bio-based raw materials such as
manure, bagasse, biomass, and brewery waste. It is a crystalline solid, white in color, and is soluble in ethanol, water, and
diethyl ether. Levulinic acid can be produced using several processes. The most common process used is dehydration treatment
of biomass with acid. Some other methods include acidic hydrolysis of furfuryl alcohol, oxidation of ketones with ozone, and
hydrolysis of acetyl succinate esters. Agriculture, food additives, pharmaceutical, and cosmetics are key end-user industries of
levulinic acid. It is also used in a limited manner in other industries such as plastics (as an additive), synthetic rubbers, and
nylon. Levulinic acid is used in fertilizers and pesticides in the agriculture industry. Subsequently, it is also used in the
manufacture of polyols and plasticizers as raw material.
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The agriculture industry is expected to primarily boost the global levulinic acid market due to strong demand from the fertilizers
and pesticides market. Currently, pharmaceuticals and agriculture applications account for almost two-third of the
globallevulinic acid market. Agricultural applications of levulinic acid include pesticides and chemical fertilizers. Keypotential
downstream
applications
of
levulinic acid
include
delta-aminolevulinic
acid,
diphenolic acid,
ethyl
levulinate,
and
methyltetrahydrofuran. The chemical industry has been working toward developing bio-based products in the past few years to
maintain sustainability by exploring new avenues across chemistry and biotechnology. Levulinic acid is accepted as the building
block in the manufacture of specialty chemicals that substitute their synthetic alternatives. Manufacturers are highly investing in
research and development of levulinic acid to reduce cost and achieve substitutes for synthetic products in potential
applications such as fuel additives and polymers. Manufacturers are aiming to introduce innovative developments that may aid
new applications. Segetis, Inc., a company based in Minnesota, U.S., recently developed a molecule made from corn cobs and
bio-based hydroxyl compounds present onesters of levulinic acid.
Threat of substitution by synthetic chemical alternatives of levulinic acid is posing a major challenge for the levulinic acid
market. Users may tend to prefer synthetic chemical alternatives due to major price gap between products. Manufacturers are
striving to develop improved production practices to control inflated prices of levulinic acid without compromising on quality. The
anticipated reduced prices are expected to open a host of opportunities for the levulinic acid market in terms of applications
such as green chemicals, energy, transportation, and specialty polymers.
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The levulinic acid market in North America has been the strongest in the past few years, followed by rising markets in Europe
and Asia Pacific. Increasing research and development activities related to this acid and its technologies by major market
players is estimated to primarily drive the market in North America. Europe and Asia Pacific are projected to witness extensive
growth during the next few years due to increasing demand from end-user industries. In addition, technological advancement
along with increasing investment in research and development activities are likely to augment the market growth in the near
future. Development of newer and easier methods for the production of levulinic acid is anticipated to present new opportunities
for the market growth during the next few years.
Some of the major market players in the levulinic acid market include Segetis, Inc., BioFine International Inc., E. I. du Pont de
Nemours and Company, Langfang Triple Well Chemicals Co., Ltd.,China Shijiazhuang Pharmaceutical Group Co., Ltd.,Yancheng
China Flavor Chemicals Co., Ltd., andApple Flavor & Fragrance Group Co., Ltd.
This research report analyzes this market on the basis of its market segments, major geographies, and current
market trends. Geographies analyzed under this research report include
•
North America
•
Asia Pacific
•
Europe
•
Middle East and Africa
•
Latin America
This report provides comprehensive analysis of
•
Market growth drivers
•
Factors limiting market growth
•
Current market trends
•
Market structure
•
Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market
projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis
and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the
existing market players and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
•
This report provides pin-point analysis for changing competitive dynamics
•
It provides a forward looking perspective on different factors driving or restraining market growth
•
It provides a six-year forecast assessed on the basis of how the market is predicted to grow
•
It helps in understanding the key product segments and their future
•
It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
•
It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of
market segments
•
It provides distinctive graphics and exemplified SWOT analysis of major market segments
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Levulinic acid, also known as 4-oxopentanoic acid, is an organic compound derived from bio-based raw materials such as manure, bagasse, biomass, and brewery waste. It is a crystalline solid, white in color, and is soluble in ethanol, water, and diethyl ether. Levulinic acid can be produced using several processes. The most common process used is dehydration treatment of biomass with acid. Some other methods include acidic hydrolysis of furfuryl alcohol, oxidation of ketones with ozone, and hydrolysis of acetyl succinate esters. Agriculture, food additives, pharmaceutical, and cosmetics are key end-user industries of levulinic acid. It is also used in a limited manner in other industries such as plastics (as an additive), synthetic rubbers, and nylon. Levulinic acid is used in fertilizers and pesticides in the agriculture industry. Subsequently, it is also used in the manufacture of polyols and plasticizers as raw material. Browse Report With Full TOC At : http://www.transparencymarketresearch.com/levulinic-acid-market.html