Levulinic Acid Market: Global Industry Analysis and Forecast (2022-2029)

Levulinic Acid Market size was valued at US$ 23.68 Mn. in 2022 and the total Levulinic Acid revenue is expected to grow by 14.8 % from 2022 to 2029, reaching nearly US$ 62.23 Mn.

Levulinic Acid Market Overview:

Levulinic acid is a significant substance utilized as a foundation chemical in the manufacture of -valerolactone (GVL), 5-bromolevulinic acid, valeric acid, 2-methyl-THF, and methyl pyrrolidone. It is also useful as a renewable source for the synthesis of polymers, including its derivative, GVL, which serves as a foundation for polymer precursor creation. The report explores the Levulinic Acid market's segments (Technology, End-User, and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). It provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2022. The report investigates the Levulinic Acid market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Levulinic Acid market's contemporary competitive scenario. Levulinic Acid MarketTo know about the Research Methodology :- Request Free Sample Report

Levulinic Acid Market Dynamics:

The low-cost production process coupled with growing industrial use is a major driver in the market growth. Despite its vital potential as an industrial solvent, levulinic acid has never seen large-scale commercial use. One possible explanation for this chemical's non-commercialization could be that most of the data analysis was done in the early 1940s when raw commodities were pricey, the yield was low, and extraction and purification machinery was insufficient. Today, the overproduction of raw resources, as well as advances in science and technology, have made it possible to reconsider the manufacturing potential of a long-forgotten synthetic giant, levulinic acid. Levulinic acid can be synthesized through the high-temperature acid hydrolysis of carbohydrates e.g. glucose, galactose, fructose as well as organic materials e.g. wood, starch, and agricultural residues. The need for environmentally benign chemicals is the key opportunity in the market. The rise in fuel and oil prices has bolstered the search for alternative sustainable energy resources for the production of precursors or biofuels, as they provide a long-term solution to rising demand. One of the platform chemicals, levulinic acid (LA), can be manufactured chemically using recycled materials. The existence of acidic carboxyl and ketone carbonyl groups in LA imparts a phenomenal trend of reactivity to levulinic acid, allowing it to establish numerous derivatives with important applications in a variety of fields, making it a convenient green chemical. The unavailability of robust reaction systems for Levulinic Acid derivatives is a major challenge in the market growth. Because of emerging environmental problems, levulinic acid derivatives have seen increased utilization in industrial enterprises. Moreover, the difficulties encountered during these lab-scale procedures are critically revealed, paving the way for process design and scale-up studies for the manufacturing of LA and other derived additives. It has been suggested that measures should be taken to create efficient catalysts and reaction systems in an attempt to optimize reaction selectivity in enhancing the process efficiency of LA and its derivatives. The processes of LA forming from various feedstocks are also crucial in guiding the process's intensification. One of the most important steps toward scaling up LA production is the development of reactors with manufacturing application potential. Levulinic Acid Market Segment Analysis: By Application, the cosmetics and personal care segment is expected to grow at a CAGR of 4.5% in the forecast period. Because it has been approved by the US Food and Drug Administration, levulinic acid and its salts (most notably sodium levulinate) are water-soluble and widely used in beauty and skincare products. Besides that, the European Union's cosmeceutical regulations do not constrain the use of these additives. As per 2021 Voluntary Cosmetic Registration Program survey data, levulinic acid is used in approximately 128 cosmetic formulations, and sodium levulinate is being used in approximately 490 pharmaceutical preparations. In hair products, levulinic acid has a maximum concentration of around 4.6%, whereas sodium levulinate has a maximum concentration of 0.6 percent in mouth rinses and breath fresheners. Moreover, these additives are said to be safe for use in items that come into contact with the eyes. For example, up to 0.5 percent, sodium levulinate is often used in eye makeup and lotions. Hair layers vary from person to person, as do hair and scalp problems. Some people have compromised or dry hair, whereas others have breakage and hair fall issues. As a result, there is a greater demand for hair care products, particularly hair dyes. Constant growth in online glamour spending, broadening use of social networks, increasing consumer demand for new and premium products, accelerating urbanization, and the progress of the upper-middle-class community are the major factors driving the global market.

Levulinic Acid Market Regional Insights:

Levulinic acid's largest market is in the APAC region. During the forecast period, it is also anticipated to witness the fastest growth. The superiority is attributed mainly to the countries e.g. China, India, and Japan. Fertilizer consumption is highest in China and India, owing to their rapidly growing populations and narrow agricultural land. As a result, these countries have a high demand for fertilizers. Personal care product penetration in India is currently low in comparison to advanced or even other growing countries. However, improving the economic climate and increasing buying power of the Indian population is expected to increase the country's acceptance of skincare products, driving demand for levulinic acid and its derivatives. As per a review published by the Ministry of Economy and Industry, India's beauty and personal care industry are expected to reach more than USD 12 billion by 2023, with an annual growth rate of 5 to 6.5 %. As per the India Brand Equity Foundation, India's pharma exports crossed USD 20 billion in 2022-2029. As a result, all of the aforementioned factors are anticipated to drive the Levulinic Acid market in the region over the forecast period. The objective of the report is to present a comprehensive analysis of the Levulinic Acid market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Levulinic Acid market dynamics, and structure by analyzing the market segments and projecting the Levulinic Acid market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Levulinic Acid market make the report investor’s guide.

Levulinic Acid Market Scope: Inquiry Before Buying

Levulinic Acid Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2017 to 2022 Market Size in 2022: US $ 23.68 Mn.
Forecast Period 2023 to 2029 CAGR: 14.8% Market Size in 2029: US $ 62.23 Mn.
Segments Covered: by Technology • Acid Hydrolysis • Biofine
by Application • Cosmetics and Personal Care • Pharmaceuticals • Polymers and Plasticizers • Fuel and Fuel Additives • Flavors and Fragrances • Other

Levulinic Acid Market, by Region

North America (United States, Canada and Mexico) • Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) • Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) • Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) • South America (Brazil, Argentina Rest of South America)

Levulinic Acid Market Key Players

Biofine International Inc. • Avantium • GF Biochemicals Ltd. • Langfang Triple Well Chemicals Co. Ltd • Simagchem Corporation • Hefei TNJ Chemical Industry Co., Ltd. • Great Chemicals Co. Ltd. • Anhui Herman Impex Co Ltd • Heroy Chemical Industry Co. Ltd. • Haihang Industry Co. Ltd • DuPont • CSPC Pharmaceutical Group • Segetis • Jiangsu Yancheng China Flavor Chemicals Co., Ltd. • Shanghai Apple Flavor & Fragrance Co., Ltd. • Tokyo Chemical Industry Co. Ltd FAQs: 1. Which is the potential market for Levulinic Acid in terms of the region? Ans. APAC is the potential market for Levulinic Acid in terms of the region. 2. What are the opportunities for new market entrants? Ans. The need for environmentally benign chemicals is the key opportunity in the market. 3. What is expected to drive the growth of the Levulinic Acid market in the forecast period? Ans. The low-cost production process coupled with growing industrial use is a major driver in the market growth. 4. What is the projected market size & growth rate of the Levulinic Acid Market? Ans. Levulinic Acid Market size was valued at US$ 23.68 Mn. in 2022 and the total Levulinic Acid revenue is expected to grow by 14.8 % from 2022 to 2029, reaching nearly US$ 62.23 Mn. 5. What segments are covered in the Levulinic Acid Market report? Ans. The segments covered are Technology, End-User, and Region.
1. Global Levulinic Acid Market: Research Methodology 2. Global Levulinic Acid Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Levulinic Acid Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Levulinic Acid Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Levulinic Acid Market Segmentation 4.1. Global Levulinic Acid Market, by Technology (2022-2029) • Acid Hydrolysis • Biofine 4.2. Global Levulinic Acid Market, by Application (2022-2029) • Cosmetics and Personal Care • Pharmaceuticals • Polymers and Plasticizers • Fuel and Fuel Additives • Flavors and Fragrances • Other 5. North America Levulinic Acid Market(2022-2029) 5.1 North American Levulinic Acid Market, By Technology (2022-2029) • Acid Hydrolysis • Biofine 5.2 North America Levulinic Acid Market, By Application (2022-2029) • Cosmetics and Personal Care • Pharmaceuticals • Polymers and Plasticizers • Fuel and Fuel Additives • Flavors and Fragrances • Other 5.3 North America Levulinic Acid Market, by Country (2022-2029) • United States • Canada • Mexico 6. European Levulinic Acid Market (2022-2029) 6.1. European Levulinic Acid Market, By Technology (2022-2029) 6.2. European Levulinic Acid Market, By Application (2022-2029) 6.3 European Levulinic Acid Market, by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Levulinic Acid Market (2022-2029) 7.1. Asia Pacific Levulinic Acid Market, By Technology (2022-2029) 7.2. Asia Pacific Levulinic Acid Market, By Application (2022-2029) 7.3. Asia Pacific Levulinic Acid Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Levulinic Acid Market (2022-2029) 8.1. Middle East and Africa Levulinic Acid Market, By Technology (2022-2029) 8.2. Middle East and Africa Levulinic Acid Market, By Application (2022-2029) 8.3. Middle East and Africa Levulinic Acid Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Levulinic Acid Market (2022-2029) 9.1. South America Levulinic Acid Market, By Technology (2022-2029) 9.2. South America Levulinic Acid Market, By Application (2022-2029) 9.3 South America Levulinic Acid Market, by Country (2022-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 Biofine International Inc. 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Avantium 10.3 GF Biochemicals Ltd. 10.4 Langfang Triple Well Chemicals Co. Ltd 10.5 Simagchem Corporation 10.6 Hefei TNJ Chemical Industry Co., Ltd. 10.7 Great Chemicals Co. Ltd. 10.8 Anhui Herman Impex Co Ltd 10.9 Heroy Chemical Industry Co. Ltd. 10.10 Haihang Industry Co. Ltd 10.11 DuPont 10.12 CSPC Pharmaceutical Group 10.13 Segetis 10.14 Jiangsu Yancheng China Flavor Chemicals Co., Ltd. 10.15 Shanghai Apple Flavor & Fragrance Co., Ltd. 10.16 Tokyo Chemical Industry Co. Ltd
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