Levulinic Acid Market Size and Growth Forecast Report 2020

1. Market overview: The global levulinic acid market was worth US$ 23.6 million in 2020 and is expected to garner a growth rate of 4.9% during the forecast period (2020-2025), to reach US$ 34.5 million by 2025. Levulinic acid is a compound that replaces petroleum products in other fields, such as the biofuel and chemical industries. It is produced from biomass, manure and brewery waste and used as a precursor to plasticizers, medications and other additives. Levulin acid is usually formed by heating sucrose with concentrated acid. Recent developments: The leading players in the global levulinic acid market are working to increase production capacity. For example, in March 2017, GFB chemicals Ltd. made a joint venture with an integrated biorefining facility in the United States with an annual production capacity of 50 to 200 million tons per year. The company strategically expanded the production scale of levulinic acid. Market Drivers and Restraints: Levulinic acid is widely used in the manufacture of PVC, which is a better alternative to phthalate plasticizers; and this factor is expected to lead the market. Levulin acid is less toxic than phthalate plasticizers, which can cause health problems in children. It can be used as pesticides and additives in biofuel production and pharmaceutical manufacturing. Levulinic acid is also used in tobacco to improve nicotine content. The production of bio-based levulinic acid produces a substantial price difference, resulting in mass production, so the yield is much higher. The increase in R&D spending in manufacturing technology is expected to open new growth opportunities in the coming years. However, the replacement of synthetic chemical substitutes for levulinic acid is a significant challenge before the global market. To know more read: https://www.marketdataforecast.com/market-reports/levulinic-acid-market Report is segmented as: The levulinic acid market is classified by application and region. Application segments include medicines, agriculture, food and beverages, cosmetics, etc. Geographical Segmentation: Geographically, the levulinic acid market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is the largest region in the market due to the high consumption. Europe and Asia-Pacific will follow North America in the coming years. Key market players: The main companies in the market that dominate the levulinic acid market are GFBiochemicals, Ltd., E.I. du Pont de Nemours and Company, Tokyo Chemical Industry Co.

2. Ltd., Biofine Technology LLC, Heroy Chemical Industry Co., Ltd, Parchem Fine & Specialty Chemicals. View sample and decide: https://www.marketdataforecast.com/market-reports/levulinic-acid-market#request_sample Scope of the report: The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated. The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity. What else? Apart from the syndicated report, our in-house team has an expertise and experience in designing custom reports to meet your specific research needs and assist you in making well- informed decisions. About Us: Market Data Forecast is a firm working in the areas of market research, business intelligence and research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients. For more information: Abhishek Shukla Sales Manager at Market Data Forecast Email: abhishek@marketdataforecast.com Tel: +1-888-702-9626 Website: https://www.marketdataforecast.com/