According to IMARC Group’s latest report, titled “Levulinic Acid Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global levulinic acid market exhibited moderate growth during 2015-2020. Looking forward, the market is expected to grow at a CAGR of around 5% during the forecast period (2021-2026).

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Levulinic, or crystalline keto acid, is an organic compound that is found in white crystalline solid form and is soluble in ethanol, diethyl ether, and water. It is obtained from levulose, insulin, or starch by boiling them with dilute hydrochloric or sulfuric acid.

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Market Trends

Levulinic acid finds applications across various industries ranging from the pharmaceutical, construction and cosmetic to agrochemical, and food and beverage industries. In the construction industry, phthalate plasticizers are being replaced with levulinic acid for the production of polyvinyl chloride (PVC), as levulinic acid adds flexibility to the product. It is also used in cigarettes to enhance nicotine content. Other than this, the sodium salt of levulinic acid is utilized as a preservative and a skin conditioning agent in cosmetics and personal care products. Apart from this, the usage of levulinic acid has increased in agrichemicals, such as fertilizers, herbicides and pesticides, as a green alternative to sulfuric acid. Moreover, the constant research and development (R&D) in the field of chemistry and biotechnology have resulted in the development of bio-based levulinic acid, which is expected to create a positive outlook for the market in the upcoming years.

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List of Key Companies Covered in this Market Report:

•  Avantium Chemicals B.V.
• Biofine International Inc.
• Dupont De Nemours Inc.
• GFBiochemicals
• Great Chemical Co. Ltd.
• Hefei TNJ Chemical Industry Co. Ltd.
• Langfang Triple Well Chemicals Co. Ltd.
• Sigma-Aldrich Corporation
• Simagchem Corporation
• Tokyo Chemical Industry Co. Ltd.

The report has segmented the market on the basis of technology, end-use industry, form and geography.

Breakup by Technology:

• Acid Hydrolysis
• Biofine

Breakup by End-Use Industry:

• Agriculture Industry
• Pharmaceutical Industry
• Food Industry
• Cosmetics Industry
• Others

Breakup by Form:

• Liquid
• Solid

Breakup by Geography:

• North America (U.S. & Canada)
• Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
• Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
• Latin America (Brazil, Mexico)
• Middle East & Africa

Key highlights of the report:

• Market Performance (2015-2020)
• Market Outlook (2021- 2026)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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