The global levulinic acid market size reached US$ 27.2 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 35.9 Billion by 2028, exhibiting a CAGR of 4.73% during 2022-2028.
Levulinic acid is an organic compound that is used to maintain the acidic balance of various pharmaceuticals, agrochemicals and solvents. It is also utilized for the manufacturing of personal care products, food additives, resins, coatings, fuel additives and biofuels. The acid is generally available in the form of white crystalline solid and is soluble in ethanol, diethyl ether and water. It is commercially produced by hydrolyzing acetyl succinate esters, ozone-based oxidation of ketones and acidic hydrolysis of furfuryl alcohol. It finds extensive applications across the pharmaceutical, cosmetic, agrochemical and food and beverage industries.
The growing agriculture and biofuel industries are among the key factors driving the growth of the market. Levulinic acid is increasingly being utilized in solvents, pesticides, fertilizers and herbicides as a green alternative to sulfuric acid. Furthermore, the increasing product adoption rate as a substitute for phthalate plasticizers in the manufacturing of polyvinyl chloride (PVC) products is another major growth-inducing factor. In comparison to phthalate plasticizers, levulinic acid is considered to be relatively less lethal for consumers. Additionally, the growing utilization of levulinic acid in the production of nylons and rubbers is positively impacting the market. Apart from this, the sodium salt of levulinic acid is also used as a preservative and a skin conditioning agent in personal care products and cosmetics. Other factors, including the flourishing construction and automotive industries, along with the increasing R&D activities in the field of chemistry and biotechnology, rapid industrialization and urbanization across the emerging nations, are projected to drive the market further.
2. What is the expected growth rate of the global levulinic acid market during 2023-2028?
3. What are the key factors driving the global levulinic acid market?
4. What has been the impact of COVID-19 on the global levulinic acid market?
5. What is the breakup of the global levulinic acid market based on the technology?
6. What is the breakup of the global levulinic acid market based on the end use industry?
7. What is the breakup of the global levulinic acid market based on the form?
8. What are the key regions in the global levulinic acid market?
9. Who are the key players/companies in the global levulinic acid market?
Levulinic acid is an organic compound that is used to maintain the acidic balance of various pharmaceuticals, agrochemicals and solvents. It is also utilized for the manufacturing of personal care products, food additives, resins, coatings, fuel additives and biofuels. The acid is generally available in the form of white crystalline solid and is soluble in ethanol, diethyl ether and water. It is commercially produced by hydrolyzing acetyl succinate esters, ozone-based oxidation of ketones and acidic hydrolysis of furfuryl alcohol. It finds extensive applications across the pharmaceutical, cosmetic, agrochemical and food and beverage industries.
The growing agriculture and biofuel industries are among the key factors driving the growth of the market. Levulinic acid is increasingly being utilized in solvents, pesticides, fertilizers and herbicides as a green alternative to sulfuric acid. Furthermore, the increasing product adoption rate as a substitute for phthalate plasticizers in the manufacturing of polyvinyl chloride (PVC) products is another major growth-inducing factor. In comparison to phthalate plasticizers, levulinic acid is considered to be relatively less lethal for consumers. Additionally, the growing utilization of levulinic acid in the production of nylons and rubbers is positively impacting the market. Apart from this, the sodium salt of levulinic acid is also used as a preservative and a skin conditioning agent in personal care products and cosmetics. Other factors, including the flourishing construction and automotive industries, along with the increasing R&D activities in the field of chemistry and biotechnology, rapid industrialization and urbanization across the emerging nations, are projected to drive the market further.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global levulinic acid market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on technology, end-use industry and form.Breakup by Technology:
- Acid Hydrolysis
- Biofine
Breakup by End-Use Industry:
- Agriculture Industry
- Pharmaceutical Industry
- Food Industry
- Cosmetics Industry
- Others
Breakup by Form:
- Liquid
- Solid
Breakup by Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Avantium Chemicals B.V., Biofine International Inc., Dupont De Nemours Inc., GFBiochemicals, Great Chemical Co. Ltd., Hefei TNJ Chemical Industry Co. Ltd., Langfang Triple Well Chemicals Co. Ltd., Sigma-Aldrich Corporation, Simagchem Corporation and Tokyo Chemical Industry Co. Ltd., etc.Key Questions Answered in This Report
1. What was the size of the global levulinic acid market in 2022?2. What is the expected growth rate of the global levulinic acid market during 2023-2028?
3. What are the key factors driving the global levulinic acid market?
4. What has been the impact of COVID-19 on the global levulinic acid market?
5. What is the breakup of the global levulinic acid market based on the technology?
6. What is the breakup of the global levulinic acid market based on the end use industry?
7. What is the breakup of the global levulinic acid market based on the form?
8. What are the key regions in the global levulinic acid market?
9. Who are the key players/companies in the global levulinic acid market?
Table of Contents
1 Preface2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Levulinic Acid Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Technology
6.1 Acid Hydrolysis
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Biofine
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by End-Use Industry
7.1 Agriculture Industry
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Pharmaceutical Industry
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Food Industry
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Cosmetics Industry
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Others
7.5.1 Market Trends
7.5.2 Market Forecast
8 Market Breakup by Form
8.1 Liquid
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Solid
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Indicators
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Avantium Chemicals B.V.
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.2 Biofine International Inc
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.3 Dupont De Nemours, Inc.
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.3.3 Financials
14.3.3.4 SWOT Analysis
14.3.4 GFBiochemicals
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.5 Great Chemical Co. Ltd
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.6 Hefei TNJ Chemical Industry Co. Ltd.
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.7 Langfang Triple Well Chemicals Co. Ltd.
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.8 Sigma-Aldrich Corporation
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.9 Simagchem Corporation
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.10 Tokyo Chemical Industry Co. Ltd.
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
List of Figures
Figure 1: Global: Levulinic Acid Market: Major Drivers and Challenges
Figure 2: Global: Levulinic Acid Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Levulinic Acid Market: Breakup by Technology (in %), 2022
Figure 4: Global: Levulinic Acid Market: Breakup by End-Use Industry (in %), 2022
Figure 5: Global: Levulinic Acid Market: Breakup by Form (in %), 2022
Figure 6: Global: Levulinic Acid Market: Breakup by Region (in %), 2022
Figure 7: Global: Levulinic Acid Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 8: Global: Levulinic Acid (Acid Hydrolysis) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Levulinic Acid (Acid Hydrolysis) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Levulinic Acid (Biofine) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Levulinic Acid (Biofine) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Levulinic Acid (Agriculture Industry) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Levulinic Acid (Agriculture Industry) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Levulinic Acid (Pharmaceutical Industry) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Levulinic Acid (Pharmaceutical Industry) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Levulinic Acid (Food Industry) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Levulinic Acid (Food Industry) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Levulinic Acid (Cosmetics Industry) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Levulinic Acid (Cosmetics Industry) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Levulinic Acid (Other End-Use Industries) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Levulinic Acid (Other End-Use Industries) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Levulinic Acid (Liquid) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Levulinic Acid (Liquid) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: Levulinic Acid (Solid) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: Levulinic Acid (Solid) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: North America: Levulinic Acid Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: North America: Levulinic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: United States: Levulinic Acid Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: United States: Levulinic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Canada: Levulinic Acid Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Canada: Levulinic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: Asia Pacific: Levulinic Acid Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: Asia Pacific: Levulinic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: China: Levulinic Acid Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: China: Levulinic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: Japan: Levulinic Acid Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: Japan: Levulinic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: India: Levulinic Acid Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: India: Levulinic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: South Korea: Levulinic Acid Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: South Korea: Levulinic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: Australia: Levulinic Acid Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: Australia: Levulinic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: Indonesia: Levulinic Acid Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: Indonesia: Levulinic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Others: Levulinic Acid Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Others: Levulinic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: Europe: Levulinic Acid Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: Europe: Levulinic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: Germany: Levulinic Acid Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: Germany: Levulinic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: France: Levulinic Acid Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: France: Levulinic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: United Kingdom: Levulinic Acid Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: United Kingdom: Levulinic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: Italy: Levulinic Acid Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: Italy: Levulinic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: Spain: Levulinic Acid Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: Spain: Levulinic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Russia: Levulinic Acid Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Russia: Levulinic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Others: Levulinic Acid Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Others: Levulinic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Latin America: Levulinic Acid Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Latin America: Levulinic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Brazil: Levulinic Acid Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Brazil: Levulinic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Mexico: Levulinic Acid Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Mexico: Levulinic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Others: Levulinic Acid Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Others: Levulinic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 72: Middle East and Africa: Levulinic Acid Market: Sales Value (in Million US$), 2017 & 2022
Figure 73: Middle East and Africa: Levulinic Acid Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 74: Global: Levulinic Acid Industry: SWOT Analysis
Figure 75: Global: Levulinic Acid Industry: Value Chain Analysis
Figure 76: Global: Levulinic Acid Industry: Porter’s Five Forces Analysis
List of Tables
Table 1: Global: Levulinic Acid Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Levulinic Acid Market Forecast: Breakup by Technology (in Million US$), 2023-2028
Table 3: Global: Levulinic Acid Market Forecast: Breakup by End-Use Industry (in Million US$), 2023-2028
Table 4: Global: Levulinic Acid Market Forecast: Breakup by Form (in Million US$), 2023-2028
Table 5: Global: Levulinic Acid Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Levulinic Acid Market: Competitive Structure
Table 7: Global: Levulinic Acid Market: Key Players
Companies Mentioned
- Avantium Chemicals B.V.
- Biofine International Inc.
- Dupont De Nemours Inc.
- GFBiochemicals
- Great Chemical Co. Ltd.
- Hefei TNJ Chemical Industry Co. Ltd.
- Langfang Triple Well Chemicals Co. Ltd.
- Sigma-Aldrich Corporation
- Simagchem Corporation
- Tokyo Chemical Industry Co. Ltd.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 142 |
| Published | March 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 27.2 Billion |
| Forecasted Market Value ( USD | $ 35.9 Billion |
| Compound Annual Growth Rate | 4.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
