Levulinic Acid market, Development, Growth and Demand Forecast to 2023
Levulinic acid has been majorly adopted by agricultural industry with key applications in fertilizers and pesticides. The strong demand arising from the agricultural industry is one of the major drivers in the global levulinic acid market.
Levulinic acid has been majorly adopted by agricultural industry with key applications in fertilizers and pesticides. The strong demand arising from the agricultural industry is one of the major drivers in the global levulinic acid market.
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<strong>Levulinic</strong> <strong>Acid</strong> Market Size, Share, <strong>Development</strong>, <strong>Growth</strong><br />
<strong>and</strong> Dem<strong>and</strong> - <strong>2023</strong><br />
The regula<strong>to</strong>ry scenario in the levulinic acid <strong>market</strong> is in favor which shows a<br />
positive influence on levulinic acid dem<strong>and</strong> for the coming years.
<strong>Levulinic</strong> acid has been majorly adopted by agricultural industry with key applications in fertilizers<br />
<strong>and</strong> pesticides. The strong dem<strong>and</strong> arising from the agricultural industry is one of the major<br />
drivers in the global levulinic acid <strong>market</strong>.<br />
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In recent years, the chemical industry has witnessed a need of sustainability <strong>and</strong> the producers<br />
have been working <strong>to</strong>wards developing products from bio-based sources by exploring chemistry<br />
<strong>and</strong> biotechnology. <strong>Levulinic</strong> acid is an organic compound, also called 4-oxopentanoic acid <strong>and</strong> is<br />
derived from bio-based sources such as biomass, bagasse, brewery waste <strong>and</strong> manure.<br />
<strong>Levulinic</strong> acid has a range of applications in agriculture, pharmaceuticals, food industry <strong>and</strong><br />
cosmetics <strong>and</strong> slight usage in synthetic rubbers, plastics <strong>and</strong> nylon. <strong>Levulinic</strong> acid is also used as<br />
raw material for the manufacturing of polyols <strong>and</strong> plasticizers.<br />
<strong>Levulinic</strong> acid manufacturers are spending highly on research <strong>and</strong> development <strong>to</strong> reduce cost of<br />
<strong>Levulinic</strong> acid <strong>to</strong> achieve substitution of synthetic products with <strong>Levulinic</strong> acid in potential<br />
applications like polymers <strong>and</strong> fuel additives.<br />
<strong>Levulinic</strong> acid major downstream potential applications include diphenolic acid (DPA), ethyl<br />
levulinate, delta aminolevulinic acid (DALA), methyltetrahydrofuran (MTHF) <strong>and</strong> others.<br />
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Key <strong>market</strong> participants for levulinic acid include Langfang Triple Well Chemicals Co., Ltd.,<br />
DuPont, Biofine , Shanghai Apple Flavor & Fragrance Co., Ltd., Segetis Inc, CSPC Huasheng<br />
Pharmaceutical Co., Ltd, CSPC Ouyi Pharmaceutical Co., Ltd. <strong>and</strong> Jiangsu Yancheng China<br />
Flavor Chemicals Co., Ltd among others.<br />
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