Levulinic acid is a white crystalline solid that is soluble in water and organic solvents. It's an organic compound that is derived from cellulose degradation. Levulinic Acid is also commonly known as a keto acid. It is superseding petroleum-based products in many different industries like biofuel. Generally, it is produced from manure, brewery waste, and biomass. The production process of this acid includes acidic hydrolysis of furfuryl alcohol, hydrolyzing acetyl succinate esters, and ozone-based oxidation of ketones.
- Data Bridge Market Research analyses that the levulinic acid market was valued at USD 27.58 in 2021 and is expected to reach USD 93.65 million by 2029, at a CAGR of 14.17% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
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Scope of the Levulinic Acid Market Report:
The levulinic acid market is segmented on the basis of technology, end user and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Technology
- Biofine
- Acid hydrolysis
On the basis of technology type, levulinic acid market is segmented into biofine and acid hydrolysis.
End User
- Agriculture
- Food
- Beverages
- Pharmaceuticals
- Cosmetics and Personal Care
On the basis of end user, levulinic acid market is segmented into agriculture, food, beverages, pharmaceuticals, and cosmetics and personal care.
Application
- Food additives
- Pharmaceuticals
- Agricultural products
- Personal care products
- Plasticizers
- Fuel additives
Based on application, levulinic acid market is segmented into food additives, pharmaceuticals, agricultural products, personal care products, plasticizers and fuel additives.
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Levulinic Acid Market Regional Analysis/Insights
The Levulinic Acid market is analyzed and market size insights and trends are provided by country, material type, end user and application as referenced above.
The countries covered in the Levulinic Acid market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the high demand for fiber cement Levulinic Acid within the region. Asia-Pacific on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the prominent presence of fiber cement Levulinic Acid market players within the region. Moreover, the high requirement for the residential and commercial building construction also boosts the regional demand.
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