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Levulinic Acid Market - Industry Analysis, Share, Size, Forecast 2023

04-11-2018 08:00 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: P&S Market Research

Levulinic Acid Market - Industry Analysis, Share, Size,

Levulinic acid has been majorly adopted by agricultural industry with key applications in fertilizers and pesticides. The strong demand arising from the agricultural industry is one of the major drivers in the global levulinic acid market.
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In recent years, the chemical industry has witnessed a need of sustainability and the producers have been working towards developing products from bio-based sources by exploring chemistry and biotechnology. Levulinic acid is an organic compound, also called 4-oxopentanoic acid and is derived from bio-based sources such as biomass, bagasse, brewery waste and manure.
Levulinic acid has a range of applications in agriculture, pharmaceuticals, food industry and cosmetics and slight usage in synthetic rubbers, plastics and nylon. Levulinic acid is also used as raw material for the manufacturing of polyols and plasticizers.
Levulinic acid manufacturers are spending highly on research and development to reduce cost of Levulinic acid to achieve substitution of synthetic products with Levulinic acid in potential applications like polymers and fuel additives.
Levulinic acid major downstream potential applications include diphenolic acid (DPA), ethyl levulinate, delta aminolevulinic acid (DALA), methyltetrahydrofuran (MTHF) and others.
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Key market participants for levulinic acid include Langfang Triple Well Chemicals Co., Ltd., DuPont, Biofine , Shanghai Apple Flavor & Fragrance Co., Ltd., Segetis Inc, CSPC Huasheng Pharmaceutical Co., Ltd, CSPC Ouyi Pharmaceutical Co., Ltd. and Jiangsu Yancheng China Flavor Chemicals Co., Ltd among others.

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