Levulinic Acid Market Report by Technology (Acid Hydrolysis, Biofine), End-Use Industry (Agriculture Industry, Pharmaceutical Industry, Food Industry, Cosmetics Industry, and Others), Form (Liquid, Solid), and Region 2024-2032
The global levulinic acid market size reached US$ 28.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 41.4 Billion by 2032, exhibiting a growth rate (CAGR) of 4.1% during 2024-2032.
Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 28.5 Billion
Market Forecast in 2032
US$ 41.4 Billion
Market Growth Rate (2024-2032)
4.1%
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.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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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:
IMARC Group 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 2024-2032. Our report has categorized the market based on technology, end-use industry and form.
Breakup by Technology:
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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:
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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.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2023
Historical Period
2018-2023
Forecast Period
2024-2032
Units
US$ Billion
Segment Coverage
Technology, End-Use Industry, Form, Region
Region Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered
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.
Customization Scope
10% Free Customization
Report Price and Purchase Option
Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The global levulinic acid market was valued at US$ 28.5 Billion in 2023.
We expect the global levulinic acid market to exhibit a CAGR of 4.1% during 2024-2032.
The extensive application of levulinic acid to maintain the acidic balance of various pharmaceutical
products, agrochemicals, and solvents is primarily driving the global levulinic acid market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent
lockdown regulations across several nations resulting in the temporary closure of end-use industries
for levulinic acid.
Based on the technology, the global levulinic acid market can be categorized into acid hydrolysis and
biofine. Currently, biofine technology exhibits clear dominance in the market.
Based on the end use industry, the global levulinic acid market has been segmented into agriculture
industry, pharmaceutical industry, food industry, cosmetics industry, and others. Among these, the
agriculture industry represents the largest market share.
Based on the form, the global levulinic acid market can be bifurcated into liquid and solid. Currently,
liquid form accounts for the majority of the total market share.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle
East and Africa, and Latin America, where North America currently dominates the global market.
Some of the major players in the global levulinic acid market include 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., etc.
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