About Levulinic Acid
Levulinic Acid is a sustainable platform molecule that can be upgrade to valuable fuel additives and chemicals. Levulinic Acid market has high growth prospects due to environmentally beneficial for reduction of carbon footprint in chemicals & liquid fuels and rising demands in both research & industrial levels for commercial applications. Further, increasing demand of esterification reaction and rich in Alkyl levulinates widespread applications in the fragrance & flavor industries that expected to drive the market over the forecasted period.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
CAGR | 8.5% |
The demand for Less than Truckload Shipping is increasing with each passing day. The businesses in this industry face major competition at a global scale with leading players in the market. Many international as well as regional service providers are also participants in the industry and directly compete with leaders. It has been identified that market-leading players are investing heavily in growth strategies such as technological development, and resource utilization to enhance their market position. Analyst at AMA Research estimates that China Vendors will contribute the maximum growth to Global Levulinic Acid market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Biofine International Inc. (United States), Avantium (The 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), Anhui Herman Impex Co Ltd (China) and Heroy Chemical Industry Co., Ltd. (China) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Parchem fine & specialty chemicals (United States), E. I. du Pont de Nemours and Company (United States), Hebei Langfang Triple Well Chemicals Co., Ltd (China) and Apple Flavor & Fragrance Group Co., Ltd. (China).
Segmentation Overview
AMA Research has segmented the market of Global Levulinic Acid market by Type (Acid Hydrolysis and Biofine), Application (Plasticizers, Pharmaceuticals & Cosmetics and Others) and Region.
On the basis of geography, the market of Levulinic Acid has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Acid, the sub-segment i.e. Methyltetrahydrofuran (MTHF) will boost the Levulinic Acid market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Used in cigarettes for increasing nicotine content.
Market Growth Drivers:
Increase Consumption at Cosmetic and Pharmaceutical Industries and Adoption of Levulinic Acid for PVC Manufacturing
Challenges:
Fluctuation of Raw Materials is Anticipated to Challenge the Market.
Restraints:
High Equipments Cost Associated with Production of Levulinic Acid. and Substitutes Available for Levulinic Acid.
Opportunities:
Increasing Government Fund Allocation on R&D of Manufacturing Technology. and Increase Usage of Levulinic Acid for Smart Agriculture.
Market Leaders and their expansionary development strategies
In May 2022, BTC Europe GmbH collaborated with NXTLEVVEL Biochem for distribution of biobased and biodegradable solvents derived from levulinic acid in Europe. The development is aimed at strengthening presence in the European market. Levulinic acid can be used in a wide range of applications owing to its high solvency, low volatility, and biodegradability.
In February 2020, GF Towell Engineering Group partnered with GF Biochemicals Ltd. To expand offerings in the levulinic acid industry. The development enabled the companies to strengthen their position in bio-solvents and bio-plasticizers sectors. It offered opportunity to cater to a wider customer base in industrial cleaning, coatings home and personal care, and and agriculture sectors.
Key Target Audience
Levulinic Acid Manufacturers, Levulinic Acid Traders, End-Use Market Participants of Different Segments of Levulinic Acid, Government and Research Organizations, R&D Institutions and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.