Levulinic Acid Market Size – USD 29.9 Million in 2019, Market Growth – CAGR of 9.3%, Market Trends – Growing demand in the production of PVC
The global levulinic acid market is expected to reach USD 61.2 Million by 2027, according to a new report by Reports and Data. Levulinic acid is a very versatile chemical that finds usage in several end-use industries attributed to its application as food & feed additive, fertilizer, fungicide, plasticizer, coating, and antifreeze, among others. Agriculture is the primary user of levulinic acid. Growing demand for fertilizers for high crop yield is one of the significant factors influencing the market growth. Fertilizers allow farmers to increase their crop yield by boosting the productivity of the agricultural land, as well as can make an otherwise less productive land produce substantial yields. Fertilizers are formulated to support the yield of certain plants by allowing the plants to absorb the essential macro and micronutrient easily. The worldwide demand for fertilizers has witnessed a decent pace of growth, with the demand being more than 138 million tons in the year 2000 and rose to around 210 million tons in the year 2019.
Manufacturers in the personal care and cosmetic sector constantly emphasize on the formulation of safe and effective products from natural ingredients such as levulinic acid that is beneficial in the prevention of bacterial build-up in cosmetics products and is used in the formulations for lotions, creams, lotions, and other products to avert spoiling, as well as doesn’t influence the color or the pH levels of the cosmetic products. Sodium levulinate, a sodium salt of levulinic acid, is a commonly used chemical as a skin cream treatment. Further, it is beneficial in maintaining the skin tone and condition, along with killing microbes in beauty products.
COVID-19 Impact
The COVID-19 pandemic is having a significant impact on the levulinic acid industry. Demand for chemicals is suffering severe shocks across various end-use markets, worldwide supply chains are upset, and the competitive order of manufacturers/producers has witnessed a change. The shortage of demand has fast-tracked the global chemical sector into an oversupply situation. Lack of free movement in major producing nations like India, China, and the US, is hindering the growth of the levulinic acid market in the COVID-19 pandemic. Movement restrictions appear to be a direct and immediate effect, and once the compulsory social distancing ends, it is expected things would get back to normal conditions.
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For the purpose of this report, Reports and Data have segmented the global levulinic acid market on the basis of technology, distribution channel, application, and region:
Technology Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
Distribution Channel Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
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Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Levulinic Acid Segmentation & Impact Analysis
4.1. Levulinic Acid Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Growing demand for levulinic acid from the agricultural sector
4.2.2.2. Growing demand in the production of PVC
4.2.2.3. Increasing R&D activities
4.2.3. Market restraints analysis
4.2.3.1. Availability of substitutes
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence
Chapter 5. Levulinic Acid Market By Technology Insights & Trends
5.1. Technology dynamics & Market Share, 2020 & 2027
5.2. Acid Hydrolysis
5.2.1. Market estimates and forecast, 2017 – 2027 (USD Million) (Kilo Tons)
5.2.2. Market estimates and forecast, by region, 2017 – 2027 (USD Million) (Kilo Tons)
5.3. Biofine
5.3.1. Market estimates and forecast, 2017 – 2027 (USD Million) (Kilo Tons)
5.3.2. Market estimates and forecast, by region, 2017 – 2027 (USD Million) (Kilo Tons)
Chapter 6. Levulinic Acid Market By Distribution Channel Insights & Trends
6.1. Distribution Channel Dynamics & Market Share, 2020 & 2027
6.2. Online
6.2.1. Market estimates
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Chapter 9. Competitive Landscape 9.1. Market Revenue Share by Manufacturers 9.2. Manufacturing Cost Breakdown Analysis 9.3. Mergers & Acquisitions 9.4. Market positioning 9.5. Strategy Benchmarking 9.6. Customer Mapping 9.7. Vendor Landscape
Chapter 10. Company Profiles 10.1. GF Biochemicals 10.1.1. Company Overview 10.1.2. Financial Performance 10.1.3. Technology Insights 10.1.4. Strategic Initiatives 10.2. Avantium NV 10.2.1. Company Overview 10.2.2. Financial Performance 10.2.3. Technology Insights 10.2.4. Strategic Initiatives 10.3. Dupont 10.3.1. Company Overview
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