Levulinic acid is also known as 4-oxopentanoic acid. The source of levulinic acid is the by products of sugar industry. Levulinic acid produces from degradation of cellulose which is a potential precursor to biofuels such as ethyl levulinate. Levulinic acid has various applications for different products such as pharmaceuticals, agrochemicals, personal care products, food additives, flavours and fragrances, resins and coatings, solvents, plasticisers, fuel additives and biofuels.
In manufacturing of PVC which is a substitute of phthalate plasticizers levulinic acid is highly important that driving the global market. However, PVC is mainly used in the manufacturing of different products in varied industries such as packaging, automotive, healthcare, and others and increasing rate of these companies also impacting in the growth of levulinic acid market. As this acid is also contains less toxicities as compare to phthalate plasticizers, the increasing health consciousness has also driving the market to an extent. Increasing consumption of cigarettes worldwide has lead increasing demand for the market as levulinic acid use in cigarette for enhancing the nicotine content. The cost of production of levulinic acid is low due ti its biobased source of production, so manufacturer are also able to produce it and supply it in high amount. To acquire competitive advantages, there is increasing trend of R&D has resulting in increasing the application of levulinic acid that further leads to driving the global levulinic acid market.
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Based on application, the global levulinic acid market can be categorized broadly into four segments such as agriculture, cosmetics, pharmaceuticals and food additives. Among the all segments, pharmaceuticals and agriculture applications has the higher market share. Agricultural applications include chemical fertililizers and pesticides that has an increasing trend of demand and further this is attributing in the growth of the market. In pharmaceuticals, major levulinic acid uses include indomethacin and calcium levulinate, an anti-inflammatory medicine often recommended for fever. Levulinic acid is carefully used in cigarettes to enhance delivery of nicotine in the smoke.
It is projected that North America region is the largest region for the levulinic acid market in the year 2018. It is also expected that Asia Pacific is growing at fastest rate during the forcast period. The region includes country such as China is supplying the levulinic acid to European and the U.S. Levulinic acid is majorly used in different application areas in the European region, this various application is expected to resulting in the growth of the market. Levulinic acid market is a nich market and companies are focusing on introducing innovative products by investing lot in R & D.
Major market players that are contributing in the levulinic acid market are E. I. du Pont de Nemours and Company, Tokyo Chemical Industry Co. Ltd., GFBiochemicals, Ltd., Heroy Chemical Industry Co., Ltd., Parchem Fine & Specialty Chemicals, Biofine Technology LLC, and Segetis, Inc. Some other prominent players of the market are Hebei Langfang Triple Well Chemicals Co., Ltd., Apple Ltd., Flavor & Fragrance Group Co., and China Shijiazhuang Pharmaceutical Group Co. Ltd.
The levulinic acid market has been segmented as follows:
Global Levulinic Acid Market, by Application
- Food Additives
Global Levulinic Acid Market, by Geography
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific