According to the latest market research study published by P&S Intelligence, the levulinic acid market garnered $26.35 million in 2021, and it is projected to generate $61.04 million revenue in 2030, advancing at a rate of 9.78% in the coming years. The growing commercialization of bio-based production procedures and the increasing compound derivative demand across industries are the primary drivers for the industry.
Moreover, research and development in the personal care sector is projected to result in organic cosmetics and fragrance development. The creamy, whisky fragrance of levulinic acid results in its heavy usage in the manufacturing of perfumes. Along with this, it is used for conditioning the skin and regulating the pH of cosmetic products.
Massive Market Opportunities in China and India
Developing countries, such as India and China, have a massive levulinic acid and derivative production capacity. Moreover, the demand for sodium levulinate is rapidly increasing due to its rising application in food preservatives, to enhance the shelf life of products, and in cosmetics, as a skin conditioner.
Levulinic Acid Demand To Rise Fastest For Fuel Additive Production
In the coming years, the highest CAGR, of more than 10%, will be witnessed by the fuel additives application category. The low toxicity, stable flash point, high lubricity, and appreciable flow attributes make levulinic acid an important diesel and gasoline additive.
Ethyl levulinate, a derivative of the chemical, reduces the emission of sulfur from diesel. In this regard, the stringent regulations of governments for reducing the GHG emissions from on-road and non-road diesel engines drive the market.
Table of Contents
Chapter 1. Research Background
- 1.1 Research Objectives
- 1.2 Market Definition
- 1.3 Analysis Period
- 1.4 Market Data Reporting Unit
- 1.5 Market Size Breakdown by Segment
- 1.5.1 Market Segmentation by Technology
- 1.5.2 Market Segmentation by Application
- 1.5.3 Market Segmentation by Region
- 1.6 Key Stakeholders
Chapter 2. Research Methodology
- 2.1 Secondary Research
- 2.1.1 Paid
- 2.1.2 Unpaid
- 2.1.3 P&S Intelligence Database
- 2.2 Primary Research
- 2.2.1 Breakdown of Primary Research, by Region
- 2.2.2 Breakdown of Primary Research, by Industry Participant
- 2.2.3 Breakdown of Primary Research, by Designation
- 2.2.5 Breakdown of Primary Research, by Company Type
- 2.3 Market Size Estimation
- 2.4 Data Triangulation
- 2.5 Currency Conversion Rates
- 2.6 Notes and Caveats
Chapter 3. Executive Summary
Chapter 4. Voice of Industry Experts/KOLs
Chapter 5. Definition of Market Segments
- 5.1 By Technology
- 5.1.1 Biofine
- 5.1.2 Acid Hydrolysis
- 5.2 By Application
- 5.2.1 Food Additives
- 5.2.2 Pharmaceuticals
- 5.2.3 Agricultural Products
- 5.2.4 Personal Care Products
- 5.2.5 Plasticizers
- 5.2.6 Fuel Additives
- 5.2.7 Others
Chapter 6. Industry Outlook
- 6.1 Market Dynamics
- 6.1.1 Trends
- 6.1.1.1 Development of biorefinery processes
- 6.1.2 Drivers
- 6.1.2.1 Commercialization of bio-based production methods
- 6.1.2.2 Surge in demand for levulinic acid derivatives from end-use industries
- 6.1.2.3 Increasing production of pharmaceuticals
- 6.1.2.4 Impact analysis of drivers on market forecast
- 6.1.3 Restraints
- 6.1.3.1 High production cost
- 6.1.3.2 Threat of chemical alternatives
- 6.1.3.3 Impact analysis of restraints on market forecast
- 6.1.4 Opportunities
- 6.1.4.1 Increasing concerns about depleting fossil-based energy resources
- 6.2 Impact of COVID-19
- 6.3 Value Chain Analysis
- 6.4 Top Exporting Countries of Levulinic Acid
- 6.5 Top Importing Countries of Levulinic Acid
- 6.6 Porter's Five Forces Analysis
- 6.6.1 Bargaining Power of Buyers
- 6.6.2 Bargaining Power of Suppliers
- 6.6.3 Intensity of Rivalry
- 6.6.4 Threat of New Entrants
- 6.6.5 Threat of Substitutes
- 6.7 ASP of Levulinic Acid in North America
- 6.8 ASP of Levulinic Acid in Europe
- 6.9 ASP of Levulinic Acid in APAC
- 6.10 ASP of Levulinic Acid in RoW
Chapter 7. Regulatory Compliance
- 7.1 North America
- 7.2 Europe
- 7.3 APAC
Chapter 8. Global Market Size and Forecast
- 8.1 Overview
- 8.2 By Technology (2017-2030)
- 8.3 By Application (2017-2030)
- 8.4 By Region (2017-2030)
Chapter 9. North America Market Size and Forecast
- 9.1 Overview
- 9.2 By Technology (2017-2030)
- 9.3 By Application (2017-2030)
- 9.4 By Country (2017-2030)
Chapter 10. Europe Market Size and Forecast
- 10.1 Overview
- 10.2 By Technology (2017-2030)
- 10.3 By Application (2017-2030)
- 10.4 By Country (2017-2030)
Chapter 11. APAC Market Size and Forecast
- 11.1 Overview
- 11.2 By Technology (2017-2030)
- 11.3 By Application (2017-2030)
- 11.4 By Country (2017-2030)
Chapter 12. RoW Market Size and Forecast
- 12.1 Overview
- 12.2 By Technology (2017-2030)
- 12.3 By Application (2017-2030)
- 12.4 By Country (2017-2030)
Chapter 13. Competitive Landscape
- 13.1 Market Share Analysis of Key Players
- 13.2 Competitive Benchmarking of Key Players
- 13.3 List of Other Key Players
- 13.4 Recent Strategic Developments of Key Players
- 13.4.1 Partnerships, Collaborations, and Agreements
- 13.4.2 Joint Ventures
- 13.4.3 Others Developments
Chapter 14. Company Profiles
- 14.1 Heroy Chemical Industry Co. Ltd.
- 14.1.1 Business Overview
- 14.1.2 Product and Service Offerings
- 14.2 GFBiochemicals Ltd.
- 14.2.1 Business Overview
- 14.2.2 Product and Service Offerings
- 14.3 Tecnicas Renunidas S.A.
- 14.3.1 Business Overview
- 14.3.2 Product and Service Offerings
- 14.3.3 Key Financial Summary
- 14.4 Simagchem Corporation
- 14.4.1 Business Overview
- 14.4.2 Product and Service Offerings
- 14.5 Tokyo Chemical Industry Co. Ltd.
- 14.5.1 Business Overview
- 14.5.2 Product and Service Offerings
- 14.6 Vigon International Inc.
- 14.6.1 Business Overview
- 14.6.2 Product and Service Offerings
- 14.7 Merck KGaA
- 14.7.1 Business Overview
- 14.7.2 Product and Service Offerings
- 14.7.3 Key Financial Summary
- 14.8 Shandong Xinhua Pharmaceutical I&E Co. Ltd.
- 14.8.1 Business Overview
- 14.8.2 Product and Service Offerings
- 14.9 Haihang Industry Co. Ltd.
- 14.9.1 Business Overview
- 14.9.2 Product and Service Offerings
- 14.10 Alfa Aesar
- 14.10.1 Business Overview
- 14.10.2 Product and Service Offerings
- 14.11 Hangzhou Aromalake Tech Co. Ltd.
- 14.11.1 Business Overview
- 14.11.2 Product and Service Offerings
- 14.12 Ascender Chemical Co. Ltd.
- 14.12.1 Business Overview
- 14.12.2 Product and Service Offerings
- 14.13 Hefei TNJ Chemical Industry Co. Ltd.
- 14.13.1 Business Overview
- 14.13.2 Product and Service Offerings
- 14.14 Augustus Oils Ltd.
- 14.14.1 Business Overview
- 14.14.2 Product and Service Offerings
- 14.15 Zibo Changlin Chemical Industry Co., Ltd.
- 14.15.1 Business Overview
- 14.15.2 Product and Service Offerings
- 14.16 Pujie Perfume (Shanghai) Co. Ltd.
- 14.16.1 Business Overview
- 14.16.2 Product and Service Offerings
- 14.17 Biofine Technology LLC
- 14.17.1 Business Overview
- 14.17.2 Product and Service Offerings
Chapter 15. Appendix
- 15.1 Abbreviations
- 15.2 Sources and References
- 15.3 Related Reports