Levulinic Acid Market to Reach US$ 67.8 Million by 2031, Observes TMR Study

The latest research study released by Transparency Market Research on "𝐋𝐞𝐯𝐮𝐥𝐢𝐧𝐢𝐜 𝐀𝐜𝐢𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐭𝐨 𝟐𝟎𝟐𝟑-𝟐𝟎𝟑𝟏 ″ research provides accurate economic, global, and country-level predictions and analyses. It provides a comprehensive perspective of the competitive market as well as an in-depth supply chain analysis to assist businesses in identifying major changes in industry practices. The market report also examines the current state of the Levulinic Acid industry, as well as predicted future growth, technological advancements, investment prospects, market economics, and financial data.

Levulinic Acid market is estimated to attain a valuation of US$ 67.8 Mn by the end of 2031, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 5.2% during the forecast period, 2023-2031

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐎𝐟 𝐓𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭-https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=6260

Government initiatives to reduce dependence on fossil fuels, rise in demand for biofuel additives to comply with stringent emission norms, and surge in demand for personal care products are augmenting the levulinic acid market growth. Increase in demand for fertilizers due to rise in urbanization and industrial growth in developing economies across the globe is also likely to boost market progress.

Levulinic acid is widely employed as a plasticizer in the manufacture of Polyvinyl Chloride (PVC). Increase in applications of PVC in diverse industries, ranging from packaging and healthcare to automotive and construction, is fueling the levulinic acid industry demand. Growth in emphasis on the development of bio-based chemicals and specialty alternatives among leading manufacturers is one of the key levulinic acid market trends.

𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞 𝐢𝐧 𝐃𝐞𝐦𝐚𝐧𝐝 𝐟𝐨𝐫 𝐁𝐢𝐨𝐟𝐮𝐞𝐥 𝐀𝐝𝐝𝐢𝐭𝐢𝐯𝐞𝐬 𝐁𝐨𝐨𝐬𝐭𝐢𝐧𝐠 𝐋𝐞𝐯𝐮𝐥𝐢𝐧𝐢𝐜 𝐀𝐜𝐢𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐭𝐚𝐭𝐢𝐬𝐭𝐢𝐜𝐬

Stable flash point, appreciable flow, high lubricity, and low toxicity properties make levulinic acid a key diesel and gasoline additive. Ethyl levulinate, a derivative of the chemical, reduces the emission of sulfur from diesel. Consequently, stringent regulations enacted by governments for the reduction of GHG emissions from on-road and non-road diesel engines are positively impacting the levulinic acid market outlook.

Levulinic acid can be obtained through agricultural waste, carbohydrates, starch, and wood. It is further used to produce specialty chemicals, liquid fuel, and fuel additives. Growth in population and rise in demand for fuel are boosting the levulinic acid market value.

𝐄𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 - https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=6260

𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐏𝐞𝐫𝐬𝐨𝐧𝐚𝐥 𝐂𝐚𝐫𝐞 𝐚𝐧𝐝 𝐂𝐨𝐬𝐦𝐞𝐭𝐢𝐜𝐬 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐞𝐬 𝐭𝐨 𝐅𝐨𝐬𝐭𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭

Levulinic acid and its salts (primarily sodium levulinate) are water soluble. They are highly used in beauty and personal care products. According to the U.S. Food and Drug Administration (FDA), levulinic acid is extensively employed in personal care and cosmetics products. Furthermore, levulinic acid and its salts are often used in the European Union.

As per the survey of the FDA's Voluntary Cosmetic Registration Program (VCRP), levulinic acid is used in around 130 cosmetic formulations, while sodium levulinate is employed in 400 cosmetic formulations.

Levulinic acid has a maximum concentration of approximately 4.5% in hair dyes, while sodium levulinate is used at a maximum concentration of 0.62% in breath fresheners and mouthwashes. Thus, growth in personal care and cosmetics industries is augmenting market expansion.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬:

GFBiochemicals Ltd., Biofine Technology LLC, Tokyo Chemical Industry Co., Ltd., Hefei TNJ Chemical Industry Co., Ltd., Godavari Biorefineries Ltd., Haihang Industry Co., Ltd., Aurochemicals, Avantium, Simagchem Corporation, and Central Drug House

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 -

𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧

Agriculture
Plasticizers
Pharmaceuticals
Cosmetics
Food & Beverages
Others

𝐇𝐚𝐯𝐞 𝐀𝐧𝐲 𝐐𝐮𝐞𝐫𝐲? 𝐀𝐬𝐤 𝐓𝐨 𝐀𝐧𝐚𝐥𝐲𝐬𝐭: https://www.transparencymarketresearch.com/sample/sample.php?flag=ASK&rep_id=6260

𝐊𝐞𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬

In June 2023, Avantium N.V. partnered with SCG Chemicals Public Company Limited to develop CO2-based polymers and scale up to a pilot plant with an indicative capacity of 10 tons per annum

In January 2022, Simagchem Corporation developed an octane booster, which is one of the company's key products in the petrochemical sector

𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐥𝐞𝐭𝐬 𝐲𝐨𝐮 𝐢𝐝𝐞𝐧𝐭𝐢𝐟𝐲 𝐭𝐡𝐞 𝐨𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐋𝐞𝐯𝐮𝐥𝐢𝐧𝐢𝐜 𝐀𝐜𝐢𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 𝐛𝐲 𝐦𝐞𝐚𝐧𝐬 𝐨𝐟 𝐚 𝐫𝐞𝐠𝐢𝐨𝐧:

North America (the United States, Canada, and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
South America (Brazil etc.) The Middle East and Africa (North Africa and GCC Countries)

𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 -

𝐌𝐮𝐥𝐭𝐢-𝐝𝐨𝐦𝐚𝐢𝐧 𝐂𝐨𝐧𝐭𝐫𝐨𝐥𝐥𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2022/08/19/2501684/0/en/Multi-domain-Controller-Market-to-Advance-at-CAGR-of-19-70-during-2022-2031-TMR-Study.html

𝐌𝐢𝐧𝐞𝐝 𝐀𝐧𝐭𝐡𝐫𝐚𝐜𝐢𝐭𝐞 𝐂𝐨𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2022/08/22/2502198/0/en/Mined-Anthracite-Coal-Market-to-Reach-US-74-3-Bn-by-2031-Observes-TMR-Study.html

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬

Nikhil Sawlani

Transparency Market Research Inc.

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