Levulinic Acid Market Research Report - Forecast to 2030

Levulinic Acid Market Information: by Technology (Acid Hydrolysis Production Process, Biofine), by Application (Food Additive, Pharmaceuticals, Cosmetic & Personal Care and Others) and Region - Forecast till 2030

ID: MRFR/CnM/1108-HCR | February 2021 | Region: Global | 133 pages         

Levulinic Acid Market

Levulinic Acid Market is projected to be worth USD 93.69 million by 2030, registering a CAGR of 14.34% during the forecast period (2021 - 2030).

Segmentation

By Technology Acid Hydrolysis Production Process Biofine
By Application Food Additive Pharmaceuticals Cosmetic & Personal Care

Key Players

  • GF Biochemicals Ltd. (Italy)
  • Langfang Triple Well Chemicals Co. Ltd (China)
  • Biofine International Inc. (U.S.)
  • Avantium (Netherlands)
  • Simagchem Corporation (China)
  • Hefei TNJ Chemical Industry Co.
  • Ltd. (China)
  • CSPC Pharmaceutical Group (China)
  • Great Chemicals Co. Ltd. (China)
  • Anhui Herman Impex Co Ltd (China)
  • DuPont (U.S.)

Drivers

  • Growing R&D activities in the chemical industry
  • Increasing use of levulinic acid over phthalate plasticizersr
  • Rising use in biofuel production is adding market growth
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Levulinic Acid Market Overview


Levulinic acid is an organic compound that is obtained from cellulose degradation. It is also called Keto acid and is produced from brewery waste, manure, and biomass waste. Levulinic acid is considered a petroleum-based product replacement. Also, levulinic acid is being produced by furfuryl alcohol acidic hydrolysis and by the oxidation of ketones. The development of bio-based levulinic acid is increasing with the increasing research and development activities in various chemical industries. Accordingly, the levulinic acid market is growing its demand and bringing major opportunities for the market.


Levulinic acid has been segmented into technology, end-users, and application. The global levulinic acid market is classified into agriculture, food, beverages, pharmaceuticals, and cosmetics & personal care if looking into the end-user industries segment. Out of the entire application segment, the plasticizers segment is predicted to increase the growth of the global market during the forecast years, and it is considered to lead the global market. This segment is increasing its demand across various regions due to the levulinic acid use to increase flexibility in plastics or polyvinyl chloride (PVC). During the forecast year, agriculture and pharmaceutical segments are predicted to increase the levulinic acid market size at a 5% CAGR. Along with that, the global market is driving its growth due to the increasing phthalate plasticizers replacement by levulinic acid in polyvinyl chloride (PVC) production. Moreover, the increasing application of PVC in the automobile and construction field is boosting up the global levulinic acid market growth. Also, the global market is growing its demand due to the increasing application of levulinic acid in biofuel, pesticides, and pharmaceuticals production. It has also been found that levulinic acid is widely used as food additives and also used in cigarettes to intensify the nicotine content.


The global levulinic acid market report has focused on the overall growth of the global market and recent ongoing research and development in various regions. This report has highlighted the market dynamics, market segmentation, competitive analysis, regional analysis, COVID-19 analysis, and other factors to understand its challenges, growth, opportunities, competitions, restraints, supply chain, and global market demands. It has been found that the global market is presently performing well and expected to generate a higher levulinic acid market size in the forecast period.


COVID-19 Impact on Global Market


COVID 19 pandemic brought lots of burden to the global marketing sectors, and global levulinic acid market is one among them. In the first half of the year 2020, the worldwide lockdown has brought many challenges for the global market like lack of transportations, shortage of workforce, less production, reduction in demands of the products, and many others. This is not all; the global market has also lost its investors.


Hence, the key players are giving their all efforts to increase the levulinic acid market’s performance in all the regions. They are well aware of the pandemic situation and implying appropriate strategies to combat the situation.


Competitive Landscape Analysis


The levulinic acid market has important key players such as:



  • GF Biochemicals Ltd. (Italy),

  • Langfang Triple Well Chemicals Co. Ltd (China),

  • Biofine International Inc. (U.S.), Avantium (Netherlands),

  • Simagchem Corporation (China),

  • Hefei TNJ Chemical Industry Co., Ltd. (China),

  • CSPC Pharmaceutical Group (China),

  • Great Chemicals Co. Ltd. (China),

  • Anhui Herman Impex Co Ltd (China),

  • DuPont (U.S.).


Market Dynamics



  • Major Drivers of the Market


The increasing application of PVC in the automobile and construction field is boosting up the global levulinic acid market growth. Also, the global market is growing its demand due to the increasing application of levulinic acid in biofuel, pesticides, and pharmaceuticals production. It can be the growth driving factor for the global market.


Moreover, the increasing industrial developments and urbanization in the developing nation is another growth driving factor for the global market. It has also been found that levulinic acid is widely used as food additives and also used in cigarettes to intensify the nicotine content. This can also increase the demand for the global levulinic acid market.



  • Opportunities for the Global Market


The development of bio-based levulinic acid is increasing with the increasing research and development activities in various chemical industries. Accordingly, the global levulinic acid market is growing its demand and bringing major opportunities for the global market.


Therefore, the levulinic acid market report explains that the key players are giving their all efforts to increase the global market’s performance in all the regions.



  • Restraints of Global Market


The increasing application of PVC in the automobile and construction field is boosting up the global levulinic acid market growth. The global market might face restraints in fulfilling the demands of all the regions within a limited period of time.


Another restraint was COVID 19 for the levulinic acid market. In the year 2020, the global market has lost its investors, which has impacted its growth. In the present scenario, the key players are making all their efforts to increase the global market’s performance in all the regions.



  • Challenges for the Global Market


In the first half of the year 2020, the worldwide lockdown has brought many challenges for the global levulinic acid market, such as lack of transportations, shortage of workforce, less production, reduction in demands of the products, and many others. This is not all; the global market has also lost its investors.


The levulinic acid market report explains that the key players study the emerging challenges well, and they are implying appropriate strategies for that. 



  • Cumulative Growth Analysis


During the forecast year, agriculture and pharmaceutical segments are predicted to increase the levulinic acid market size at a 5% CAGR. Along with that, the global market is driving its growth due to the increasing phthalate plasticizers replacement by levulinic acid in polyvinyl chloride (PVC) production.


Thus, the key players are targeting the upcoming years to perform well and increase the demand of the market.


Market segmentation Overview



  • By Technology:


Based on the technology segmentation, the levulinic acid market is classified into biofine production process, acid hydrolysis production process, and others.


These technology segments are enhancing the global market demand across various regions.



  • By End-users:


The end-user segment of the global levulinic acid market is classified into agriculture, food, beverages, pharmaceuticals, and cosmetics & personal care.


During the forecast year, agriculture and pharmaceuticals segments are predicted to increase levulinic acid market share at a 5% CAGR.



  • By Application:


The market has various segmental applications such as food additive, agriculture, plasticizers, pharmaceuticals, cosmetic and personal care, and others.


The pharmaceuticals & cosmetics segment is predicted to grow levulinic acid market share for the forecast period. It has also been found that levulinic acid is widely used as food additives and also used in cigarettes to intensify the nicotine content.


Regional Analysis


The levulinic acid market is increasing its demand due to its quality products based on the regional classification. These regions are South America, Latin America, the Middle East & Africa, North America, Asia Pacific, Europe, and the Rest of the World.


North America was dominating the global market out of all the regions and predicted to meet the levulinic acid market share for the forecast period. Also, it is considered the fastest-growing region as compare to other regions. Along with that, countries like China and India in the Asia Pacific region are increasing the demand for levulinic acid due to the presence of agrarian economies in the region.


These important key players give them all efforts to increase their product demand and improve the advanced things to increase the levulinic acid market size.


Recent Developments



  • October 2021- the global market leader in chemical and ingredients distribution, Brenntag, forms a distribution contract with NXTLEVVEL Biochem to develop its developing Household, Industrial, & Institution (HI&I) portfolio in offering sustainable biobased solvents in the North America region. The present contract includes the latest product line incorporating the below product names and comprises levulinates and levulinate ketals. The products are bio-based solvents delivering sustainability, improved safety, and high performance.
    o NXT SOLV 100
    o NXT SOLV 200
    o NXT SOLV 300
    o NXT SOLV 400

  • February 2021- California-based Origin Materials is another green chemistry firm that is going public through a special purpose acquisition company (SPAC) takeover. The company is being bought by Artius, the blank check firm in a contract, which values Origin’s equity at USD1.8 billion. The Origin, formed in 2008, is building a process that treats a lignocellulosic feedstock, such as wood chips, with hydrochloric acid. The acid boosts the dehydration and hydrolysis of cellulose and hemicellulose. A final product, i.e., alcohol, reacts with the acid to produce chloromethyl furfural (CMF).

  • June 29, 2020 - Origin Materials (North America), a material development company, announced its commitment to the commercial manufacture of the chemical 5-chloromethyl furfural (CMF) products. The company also announced the development of a proprietary biomass-to-chemicals production process based on furan chemistry. The new process allows the conversion of lignocellulosic plant-based carbon into chemical building blocks CMF and hydrothermal carbon (HTC) and furfural and levulinic acid, through simple, economical, single-step chemo-catalysis.


Report Overview


The global levulinic acid market report has focused on the overall growth of the global market and recent ongoing research and development in various regions. This report has highlighted the market dynamics, market segmentation, competitive analysis, regional analysis, COVID-19 analysis, and other factors to understand its challenges, growth, opportunities, competitions, restraints, supply chain, and global market demands. It has been found that the global levulinic acid market is presently performing well and expected to generate a higher market share in the forecast period.


Segmental Table:


By Technology



  • Biofine production process,

  • Acid hydrolysis production process,

  • Others


By End-users



  • Agriculture,

  • Food,

  • Beverages,

  • Pharmaceuticals,

  • Cosmetics & personal care


By Applications



  • Food additive,

  • Agriculture,

  • Plasticizers,

  • Pharmaceuticals,

  • Cosmetic and personal care,

  • Others



Report Scope:
Report Attribute/Metric Details
  Market Size   2030 : Significant value
  CAGR   5 %(2019–2027)
  Base Year   2021
  Forecast Period   2022Β toΒ 2030
  Historical Data   2019Β &Β 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Technology, Application and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Biofine International Inc. (U.S.), Avantium (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), and Anhui Herman Impex Co Ltd (China), DuPont (U.S.), and CSPC Pharmaceutical Group (China)
  Key Market Opportunities   The development of bio-based levulinic acid, which is anticipated to be the major opportunity in the market.
  Key Market Drivers

  • Growing R&D activities in the chemical industry
  • Increasing use of levulinic acid over phthalate plasticizersr
  • Rising use in biofuel production is adding market growth


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    Frequently Asked Questions (FAQ) :

    North America was dominating the global market and predicted to meet the higher market share for the forecast period.

    The agriculture and pharmaceutical segments are predicted to increase levulinic acid market share at a 5% CAGR for the forecast period.

    Levulinic acid is an organic compound that is obtained from cellulose degradation. It is also called Keto acid and is produced from brewery waste, manure, and biomass waste.