China Levulinic Acid Market: By Application & By Geography - Forecast 2017-2021

Levulinic acid also known as 4-oxopentanoic acid, is an organic compound that is classified as keto acid. This acid is a white crystalline solid and is highly miscible in water, ethanol, as well as diethyl ether. However, it is insoluble in aliphatic hydrocarbons. Levulinic acid is considered to be a versatile platform chemical that can be utilized to produce fuels, solvents, polymers, pharmaceutical and agrichemical products. Furthermore, this acid has the potential to replace petroleum-based chemicals used commercially in various applications such as personal care, flavors & fragrances, detergents, pharmaceuticals, bio based polymers, solvents and more. The production process of Levulinic acid which was used earlier had trouble to meet certain environmental standards. However, recently a new pathway, seemingly using fermentation technology, with much less environmental impact along with low priced products was introduced.

Over the past several years, China has easily become one of the most dynamic countries in the world for biobased products. China along with India are the top two countries in the bio-plastics industry. Increasing investment pertaining to bio-based products in China is one of the major reason for the growth of Levulinic acid in this region. Moreover, owing to favorable policies for bio-based materials from the national and local governments, China has become the core cluster region for the bio-based material industry in the world. As the world is moving constantly from fossil to alternative renewable feedstocks, levulinic acid can be used as an extremely versatile building block for chemicals and materials derived directly from biomass.

According to the International Trade Administration (ITA), China is the second largest pharmaceutical market in the world, and is forecasted to grow from $108 billion in 2015 to $167 billion by 2020. Levulinic acid is extensively used in pharmaceutical industry for diagnosis and treatment of cancer. Moreover, this acid is also used in anti-inflammatory medication, anti-allergy agents, mineral supplements, transdermal patches and more. Hence, with highly growing pharmaceutical industry, levulinic acid is also anticipated to see surge in the Chinese market in the coming future.

However, there are some restraints of this market -the synthetic alternatives of levulinic acid are replaced with the natural form and they are used in various applications such as pharmaceuticals, agriculture, personal care, packaging and more. Phthalate-based plasticizers, which make majority of the world’s plasticizer market is one of the major substitute of levulinic acid as an additive. Moreover, the quantity of levulinic acid produced in China as well as globally is comparatively less than its demand.

The China market for levulinic acid was estimated to be $xx bn in 2016. The market for the same is estimated to grow at a CAGR of xx% and is forecast to reach $xx bn by 2021. Pharmaceutical industry is forecast to have the highest growth of x% during the forecast period 2016-2021. The market is primarily driven by the rapid use of pharmaceuticals along with personal care as well as the growing income and expenditure capacity of people in developing economies.

China Levulinic acid market report provides a detailed description on the industry by application in China. The market is segmented by the applications wherein levulinic acid finds its use. It includes pharmaceuticals, agriculture, personal care, fuel additives and others. Also, the final category of the market gives a detailed analysis of the metal recycling industry in China. Market sizes and dynamics of various products are provided for China and key markets in this region.

Levulinic acid market in China has been dominated by the pharmaceutical industry followed by the personal care sector. Levulinic acid along with its derivatives are used in organic and natural cosmetic compositions for perfuming, skin conditioning and pH-regulating purposes. On a similar note, levulinic acid market in China is anticipated to experience a high growth in the forecast period 2017 to 2021 as skin care accounts for a major share in the personal care market in China.
This report is profiled with attributes like company overview, financials, products, growth strategy and recent developments in the business of levulinic acid, especially in China. The market is diversified and encompasses numerous domestic players;

Sample companies profiled in this report are:
GFBiochemicals Ltd.

Anhui Herman Impex Co Ltd (China)
Hefei TNJ Chemical Industry Co., Ltd. (China)
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