Levulinic Acid-Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Levulinic Acid market accounted for $ 17.94 million in 2017 and is expected to reach $ 68.26 million by 2026 growing at a CAGR of 16.0% during the forecast period. Some of the key factors such as the extensive use of this acid for manufacturing of PVC which is a better alternative for phthalate plasticizers and growing use of the acid in niche applications including plastics, nylons and rubbers are driving the market growth. However, rising R&D expenditure which diminishes the production costs is the restraining factors for the market growth. Moreover, the growing research and development activities in the chemical industry have resulted in the development of this bio-based acid will provide ample opportunities for the growth of the market.
Levulinic Acid is a type of acid, which is a replacement of petroleum products which reduces the amount of greenhouse emissions and also in cigarettes. It is manufactured from degraded cellulose and is also known as 4-oxopentanoic acid. It can also be produced by acidic hydrolysis of furfuryl alcohol, by hydrolyzing acetyl succinate esters and by ozone based oxidation of ketones.
By Application, pharmaceuticals and personal care segment is likely to grow with highest CAGR during the forecast period as this acid along with its derivatives is used in organic and natural cosmetic compositions for perfuming, skin conditioning and pH-regulating purposes. By geography, North America is expected to observe significant growth in the forecast period, due to owing to the presence of the prominent application players in this region.
Some of the key players in this market include Valmont Industries Inc (Vally), Xylem Inc, Kirloskar Brothers Limited, Precision Digital Corporation, CandS Electric Limited, Dwyer Instruments Inc, Sulzer Ltd, Spring (Europe) Ltd and Grundfos.
• Industrial Grade
• Other Types
Product Types Covered:
• Acid Hydrolysis
• Levulinic Acid as A Part of Green Technology
• Market Dynamics of Target Market
• Biofine Production Process
• Existing and Potential Applications
• Levulinic Acid Derivatives and Applications
• Acid Hydrolysis Production Process
• Food Additives and Beverages
• Personal Care and Cosmetics
• Other Applications
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Supply chain trends mapping the latest technological advancements
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