Product Code: RP-ID-10346842 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Chemicals |
Report ID: 10346842
Market Overview:
Global Levulinic Acid Market by Application (Plasticizers, Pharmaceuticals & Cosmetics), Technology (Acid Hydrolysis, Biofine), and Regional Forecasts 2020-2027
Global Levulinic acid Market is valued approximately at USD XXX million in 2019 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2020-2027. Global Levulinic acid is an organic compound derived from the degradation of cellulose. This plant based acid is mostly produced from biomass, and manure, widely used in cosmetics and as an alternative to fossil fuels, levulinic acid is used to make chemicals which act as additives to the alternative fossil fuel. Levulinic acid is used widely in agriculture, pharmaceutical, food, cosmetics and other industries, it is also used in cigarettes to bind nicotine to neural receptors, calcium levulinate a by-product of levulinic acid is used to fortify the presence of calcium in milk, condiments, beer and soy products. Segetis, a company based off Minnesota, recently developed a molecule on esters of levulinic acid made from corn cobs and bio-based hydroxyl compounds. The idea is to use Levulinic acid as raw material for the manufacturing of plasticizers replacing phthalate plasticizer added to manufacture PVC, the most used commodity plastic the demand has increase These factors will contribute towards the growth of the market. However, the high cost associated with the procurement of levulinic acid and the initial cost to set up the plant to extract levulinic acid can hamper the progress of the market as the end users are unwilling to pay higher price.
The regional analysis of global Levulinic acid market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World.
North America is the leading/significant region across the world in terms of market share owing to the development in the personal care and pharmaceutical industry. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rapidly increasing acceptance for ready-made foods and increase in the demand for cosmetics would create lucrative growth prospects for the Levulinic acid market across Asia-Pacific region.
Major market player included in this report are:
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)
Anhui Herman Impex Co Ltd (China)
Akzonobel (N.L)
PPG Industries (U.S)
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Application:
Plasticizers
Pharmaceuticals
Cosmetics
By Technology:
Acid Hydrolysis
Biofine
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Levulinic acid Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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)
Anhui Herman Impex Co Ltd (China)
Akzonobel (N.L)
PPG Industries (U.S)
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