According to a new market report by Lucintel, the future of the levulinic acid market looks promising with opportunities in plasticizer, agriculture, food additive, and pharmaceutical and cosmetic applications. The global levulinic acid market is expected to grow with a CAGR of 6% from 2020 to 2025. The major growth drivers for this market are increasing demand for levulinic acid in the plasticizer and pharmaceutical and cosmetic industries.
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In this market, acid hydrolosis and biofine are the major technologies used for manufacturing levulinic acid. Lucintel forecasts that hydrolosis will remain the largest segment over the forecast period.
Within this market, agriculture will remain the largest segment by application over the forecast period due to its usage as herbicide in lawns for grain crops and as a plant growth stimulator.
North America will remain the largest market over the forecast period due to growing demand for biofuel and favorable government regulations in the region.
Biofine International Inc., Avantium Inc., GF Biochemicals Ltd., Langfang Triple Well Chemicals Co Ltd, Simagchem Corporation, Hefei TNJ Chemical Industry Co Ltd., and Great Chemicals Co Ltd. are among the major suppliers in the global levulinic acid market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global levulinic acid market by application, technology, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Levulinic Acid Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global levulinic acid market by application, technology, and region as follows:
By Application [Value ($ Million) shipment analysis for 2014 – 2025]:
Plasticizers
Pharmaceuticals and Cosmetics
Agriculture
Food additives
Others
By Technology [Value ($ Million) shipment analysis for 2014 – 2025]:
By Region [Value ($ Million) shipment analysis for 2014 – 2025]:
United States
Canada
Mexico
Italy
United Kingdom
German
France
China
India
South Korea
Japan
A more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.