Levulinic Acid Market Global Industry Analysis Forecast - 2022

The levulinic acid market was valued approximately USD 16.07 million in 2014 and is expected to reach around USD 45.36 million by 2025 with a compound annual growth rate (CAGR) of 12.02% over the forecast period, owing to levulinic acid’s potential of replacing phthalate plasticizers that are used for the production of PVC. Levulinic acid is also referred as 4-oxopentanoic acid. It is a natural compound that sorted as a keto acid. It is soluble in ethanol, diethyl ether, and water, however insoluble in aliphatic hydrocarbons and has a material form of crystalline white solid. In recent times, the requirement for sustainability has continuously impelled the chemical industry in the direction of exploring renewable biotechnology and chemistry to produce goods from bio-based reservoirs. These produced are acquired with an aim of employing them as platforms for producing a host of specialty and industrial chemicals to substitute their artificial equivalents. Levulinic acid has been recognized as platform chemical since long. Consequently, despite its comparatively small market volume, it is the major topic of research and development to play a role of a predecessor to special chemicals involving pesticides like D-amino levulinic acid (DALA), fuel additives like Methyltetrahydrofuran (MTHF), and Diphenolic Acid (DPA) along with others.

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The production technology of bio-based levulinic acid is not much complex, with the extensively used perspective being the dehydrating treatment of carbohydrates or biomass with acid. Some other major technologies are by oxidation of ketones with ozone, acid hydrolysis of furfuryl alcohol and hydrolysis of acetyl succinate esters. Currently, levulinic acid has major applications in pesticides, food additives, cosmetics, pharmaceuticals and minor application in plastics, nylons, and synthetic rubbers. The major raw materials for the production of bio-based levulinic acid are bagasse, biomass, brewery waste and manure, and to supply it at a reasonable price has been a dispute for market players. Furthermore, as with any of the bio-based substitute chemical, the cost has been a crucial issue in the global market for levulinic acid. At present, prices are varying between $5 and $8 for a kilo; producers are challenged with an intimidating task of coordinating objective prices of near to $1 a kilo to get through the downstream platform usage. With an amount of research and development initiatives anticipated to shift for commercialization during the next few years, it is predicted that the cost of levulinic acid shall turn out to be more aggressive in the near future. Encouraging regulatory scenario and expansion in application industry are anticipated to influence levulinic acid demand positively during the next few years.

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Market Classification

Levulinic Acid Market, By Potential Downstream Platform, Estimates and Forecast, 2014-2022 ($Million)

Methyltetrahydrofuran (MTHF)
Delta aminolevulinic acid (DALA)
Diphenolic Acid
Other Levulinic Acids

Levulinic Acid Market, By Application, Estimates and Forecast, 2014-2022 ($Million)

Pharmaceuticals
Agriculture (Organic potassium fertililizer DALA, 2--Methylindole-3-acetic acid)
Food Additives
Cosmetics

Application Outlook and Trend Analysis

Major application sections studied and described in this study involve food additives, pharmaceuticals, agriculture, and cosmetics applications. Agriculture applications are such as 2--Methylindole-3-acetic acid and Organic potassium fertilizer DALA. Currently, levulinic acid is used in niche markets, due to its elevated cost. The demand of Levulinic acid for agricultural applications and other chemicals is anticipated to rise at a compound annual growth rate of 6% during forecast period. Key levulinic acid applications in pharmaceuticals involve indomethacin and calcium levulinate, which is an anti-inflammatory and non-steroidal drug, assigned for fever. Demand for Levulinic acid for pharma applications is likely to rise at a compound annual growth rate of 5.4% during forecast period. Furthermore, levulinic acid is also cautiously utilized in cigarettes to enhance nicotine release in smoke and bond of neural receptors to nicotine.

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