MELBOURNE, April 11, 2023 (GLOBE NEWSWIRE) -- Data Bridge Market Research has recently published a Report, titled, "Levulinic Acid Market" The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segments, Porter's Five Forces analysis, and competitive landscape. An excellent Levulinic Acid market report provides industry players with crucial support to expand their customer base within diverse market spaces. A team of experienced consultants, efficient market researchers, and dependable data providers work with dedication to structure such large-scale market documents. Here, traditional research methodologies are supplemented with innovative approaches to offer evidence-based insights. This business research report offer recommendations that not just match today’s fast-evolving business trends, but also allow companies to capitalize on them. The market insights are taken into consideration in the Levulinic Acid market analysis report help simplify decision-making.
The research methodology or the sources of information in the Levulinic Acid report include public information via annual reports to shareholders, Government reports that are accessible for public review, company marketing information, advertising, company press releases, and state and local news sources. Moreover, subscription-based information, online research including third-party references, trade associations, directories and publications, one on one telephone interviews with both current customers and prospects, and a range of private industry sources are also referred to while building Levulinic Acid market survey reports. To provide accurate information to users, every effort is made!
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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Levulinic acid is an organic compound that is obtained from cellulose degradation. It is also called Keto acid and is produced from brewery waste, manure, and biomass waste. Levulinic acid is considered a petroleum-based product replacement. Also, levulinic acid is being produced by furfuryl alcohol acidic hydrolysis and by the oxidation of ketones. The development of bio-based levulinic acid is increasing with the increasing research and development activities in various chemical industries. Levulinic acid and their salts are water-soluble and commonly used in beauty and personal care products, as approved by the U.S. Food and Drug Administration (FDA).
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.
Some of the major players operating in the Levulinic Acid market are:
- G.F. Biochemicals Ltd. (Italy)
- Langfang Triple Well Chemicals Co. Ltd (China)
- Biofine International Inc. (U.S.)
- Avantium (Netherlands)
- Simagchem Corporation (China)
- Hefei TNJ Chemical Industry Co., Ltd. (China)
- CSPC Pharmaceutical Group (China)
- Great Chemicals Co. Ltd. (China)
- Anhui Herman Impex Co Ltd (China)
- DuPont (U.S.)
- The Valspar Corporation (U.S.)
- KCC Corporation (South Korea)
- Sherwin-Williams (U.S.)
- AkzoNobel (Netherlands)
- Jotun A/S (Norway)
Recent Development
- In 2021, Brenntag, a global market leader in chemical and ingredients distribution, formed a distribution contract with NXTLEVVEL Biochem to develop its emerging Household, Industrial, and Institution (HI&I) portfolio in offering sustainable biobased solvents in the North America region. The present contract comprises the latest product line including the below product names and comprises levulinates and levulinate ketals. The products are bio-based solvents bringing sustainability, enhanced safety, and high performance.
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Opportunities
- Rise in Government Initiatives
Furthermore, the rise in initiatives taken by the government and support of public corporations for rodent control extends profitable opportunities to the market players in the forecast period of 2022 to 2029.
Additionally, increasing initiatives to reduce resource depletion and rising research activities extend profitable opportunities to the market players in the forecast period of 2022 to 2029.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product portfolios of the top players in the Levulinic Acid market
Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Levulinic Acid Market
Market Drivers: Levulinic Acid Market
- Growing pharmaceutical industry
Rising demand from pharmaceutical industry for the preparation of drugs because of growing number of disease and infections around the globe are also increasing and it is driving the levulinic acid market.
- Increasing investment
The surging investment for the development of advanced and innovative products is also rising, accelerating the levulinic acid market.
Additionally, increasing usage of levulinic acid as a replacement of petroleum based products, increasing degradation of bio-based production methods, surging investment for the development of advanced and innovative products also positively affect the levulinic acid market.
Restraints/Challenges faced by the Levulinic Acid Market
- Strict environmental regulations
Strict environmental regulations because of the harmful effects caused by levulinic acid are acting as a market restraint for the growth of the levulinic acid market in the forecast period.
Also, complex method of production and high production cost are projected to challenge the levulinic acid market in the forecast period of 2022-2029.
This levulinic acid market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the levulinic acid market contact Data Bridge Market Research for an Analyst Brief, Our team will help you take an informed market decision to achieve market growth.
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Investing in this study would grant you access to valuable information, including:
- Comprehensive coverage of the Levulinic Acid Industry, both globally and broken down by region.
- Regional-level breakdowns of the market, including North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
- Country-specific market size splits for the most important countries with major market shares.
- Market share and revenue/sales data for the industry's leading players.
- Analysis of market trends such as emerging technologies, products, and start-ups, as well as PESTEL Analysis, SWOT Analysis, Porter's Five Forces, and more.
- Detailed market size data, including breakdowns by application/industry verticals.
- Projections and forecasts for the market's future growth and development.
Key Industry Segmentation: Levulinic Acid Market
Technology
- Biofine
- Acid hydrolysis
End User
- Agriculture
- Food
- Beverages
- Pharmaceuticals
- Cosmetics and Personal Care
Application
- Food additives
- Pharmaceuticals
- Agricultural products
- Personal care products
- Plasticizers
- Fuel additives
Regional Analysis/Insights: Levulinic Acid Market
The levulinic acid market is analyzed and market size insights and trends are provided by country, technology, end user and application as referenced above.
The countries covered in the levulinic acid market report are the 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, South Africa, Egypt, Israel, 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 levulinic acid market due to the large market share of the U.S. and Canada in the development of the pharmaceutical and personal care industry and the rising working population and changing lifestyle in the region.
The Asia-Pacific region is expected to hold the largest growth rate during the forecast period of 2022 to 2029 due to the rising demand for pesticides in India and China.
Table of Contents:
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Global Levulinic Acid Market: Regulations
- Market Overview
- Global Levulinic Acid Market, By Technology
- Global Levulinic Acid Market, By Application
- Global Levulinic Acid Market, By End User
- Global Levulinic Acid Market, By Region
- Global Levulinic Acid Market: Company Landscape
- SWOT Analyses
- Company Profile
- Questionnaires
- Related Reports
To Check the Complete Table of contents, click here @ https://www.databridgemarketresearch.com/toc/?dbmr=global-levulinic-acid-market
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