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.
The Levulinic Acid market is segmented into application, potential downstream and regions. In terms of application the market is segmented into cosmetics, agriculture, pharmaceuticals and food additives. By potential downstream the market is segmented into Diphenolic Acid, Delta aminolevulinic acid (DALA) and Methyltetrahydrofuran (MTHF).
Levulinic acid, otherwise called 4-oxopentanoic acid, is a natural compound which is delegated a keto acid. The physical form of the acid is a white crystalline strong and is solvent in water, diethyl ether, and ethanol, yet is insoluble in aliphatic hydrocarbons. In the past few years, the requirement for sustainability has continually determined the concoction business towards investigating inexhaustible science and biotechnology to create products from bio-based sources.
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Levulinic acid demand for agriculture applications and other pesticides is expected to grow significantly
The demand of Levulinic acid for agriculture applications and different pesticides is relied upon to develop significantly in the upcoming years. Major levulinic acid usage in pharmaceuticals incorporate calcium indomethacin and levulinate, which is a non-steroidal calming drug, given for fever. Levulinic acid requirement for pharmaceutical applications is foreseen to develop at a considerable pace in the following years.
MTHF is the major potential downstream application
Business scale application for levulinic acid has as of late been connected to vehicle fuel extenders, majorly MTHF, which is miscible with gas in all extents and presentations ideal oxygenate and vapor weight properties. Intermediates amid change of the levulinic acid to MTHF incorporate γ – Valero lactone (GVL) and 1,4pentanediol, which are likewise attractive items in their own particular right.
North America was the biggest levulinic corrosive consumer in 2013
North America was the biggest levulinic acid purchaser in 2013, trailed by Europe and the quickly emerging Asia Pacific market. United States and European based downstream organizations for the most part source levulinic acid from Chinese makers at low costs for their separate application. For instance, Segetis is accounted for to source levulinic acid from China for its L-ketals product portfolio.
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The global levulinic acid market is segmented as follows :
- Food Additives
- Agriculture (Organic potassium fertilizer DALA, 2–Methylindole-3-acetic acid)
By Potential Downstream
- Delta aminolevulinic acid (DALA)
- Diphenolic Acid
- Methyltetrahydrofuran (MTHF)
- North America
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Rest of the World
- United Arab Emirates
- South Africa
- Saudi Arabia
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