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Levulinic Acid Market size worth $ 30.21 Million, Globally, by 2028 at 5.3% CAGR: Verified Market Research®

JERSEY CITY, N. J., Oct. 7, 2021 /PRNewswire/ — Verified Market Research recently published a report, “Levulinic Acid Market” By Application (Pharmaceuticals, Agriculture, Food Additives, and Cosmetics), and By Geography. According to Verified Market Research, the Global Levulinic Acid Market size was valued at USD 20.3 Million in 2020 and is projected to reach USD 30.21 Million by 2028, growing at a CAGR of 5.3% from 2021 to 2028.

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Browse in-depth TOC onLevulinic Acid Market

202 – Pages
126 – Tables
37 – Figures

Global Levulinic Acid Market Overview

Levulinic Acid is also widely known as keto acid. It is an organic compound extracted from the degradation of cellulose. Levulinic acid is replacing petroleum-based products in different industries such as biofuel. Normally, it is produced from manure, brewery waste, and biomass. Its production process includes acidic hydrolysis of furfuryl alcohol, hydrolyzing acetyl succinate esters, and ozone-based oxidation of ketones.

Levulinic Acid is replacing phthalate plasticizers for the production of polyvinyl chloride (PVC) which is driving the demand in the market for the adoption of levulinic acid and is increasing the growth of the market at a rapid pace. Furthermore, with the growth of the construction and automotive sectors, the demand for Levulinic Acid is also increasing.

Key Developments in Levulinic Acid Market

  • In February 2020, GFBiochemicals Ltd. and Towell Engineering Group announced the formation of a joint venture (JV) for the production (using GF Biochemicals’ proprietary technology¬) and marketing of levulinic acid.
  • In October 2020, Biofine and Sprague agreed to work together to widen their product portfolio to maximize their revenue generation.
  • In the recent turn of events, Evonik shook hands with the Institute of Chemical Technology, Mumbai for a research and development partnership.

The major players in the market are Biofine International Inc., Avantum, Langfang Triple Well Chemicals Co. Ltd, Simagchem Corporation, Hefei TNJ Chemical Industry Co. Ltd. Great Chemicals Co. Ltd., Anhui Herman Impex Co Ltd, DuPont, CSPC Pharmaceutical Group, and Heroy Chemical Industryu Co., Ltd.

Verified Market Research has segmented the Global Levulinic Acid Market On the basis of Application, and Geography.

  • Levulinic Acid Market, By Application
    • Pharmaceuticals
    • Agriculture
    • Food Additives
    • Cosmetics
  • Levulinic Acid Market by Geograph
    • North America
      • U.S
      • Canada
      • Mexic0
    • Europe
      • Germany
      • France
      • U.K
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW
      • Middle East & Africa
      • Latin America

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Visualize Levulinic Acid Market using Verified Market Intelligence:-:

Verified Market Intelligence is our BI Enabled Platform for narrative storytelling of this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue impacting decisions for a brilliant future.

VMI provides a holistic overview and global competitive landscape with respect to Region, Country, and Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.

About Us

Verified Market Research is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research provides advanced analytical research solutions while offering information enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals and critical revenue decisions.

Our 250 Analysts and SME’s offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.

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SOURCE Verified Market Research

Levulinic Acid Market size worth $ 30.21 Million, Globally, by 2028 at 5.3% CAGR: Verified Market Research®
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