Levulinic Acid Market to Reach US$25.7 Million by 2027: IndustryARC
The growing demand for the personal care industry will act as a driver for the growth of the Levulinic Acid Market
The growing demand for the personal care industry will act as a driver for the growth of the Levulinic Acid Market
HYDERABAD, TELANGANA, INDIA, January 4, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that The Levulinic Acid Market size is forecast to reach US$25.7 million by 2027, after growing at a CAGR of 8.8% during 2022-2027 owing to rising demand from various end-use industries such as pharmaceuticals, personal care, food and beverages, agriculture, and other industries to maintain their acidic balance. Levulinic acid is an organic compound and it is categorized under keto acids. It is obtained from the degradation of cellulose and is a potential precursor to biofuels, such as ethyl levulinate. The growth of biofuels application in recent times has resulted in the growth of the Levulinic Acid Market, as it is used in making biofuels. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more. Click here to browse the complete report summary:URL.html Key takeaways: This IndustryARC report on the Levulinic Acid Market highlights the following areas - 1. Europe region dominates the Levulinic Acid Market, owing to the increasing cosmetic manufacturing in the region. For instance, according to Cosmetic Europe- the personal care association, in 2020 Europe was the largest cosmetic market at the global level with annual sales of €76.7 billion (US$87.6 billion). 2. Levulinic acid is extensively used as a food-grade preservative in the food and beverage industry which helps in slowing microbial growth. The growing demand for the food and beverage industry has increased the demand for the Levulinic Acid Market. 3. The pharmaceutical industry is driving the growth of levulinic acid because it is used in the precursor process of pharmaceuticals and used as anti-inflammatory medication, anti-allergy agent, mineral supplements, and transdermal patches. 4. The growing demand for agrochemicals in the agriculture sector will drive the growth of the Levulinic Acid Market because its derivative delta-aminolevulinic acid (DALTA) is used as an herbicide in lawns and certain grain crops. Interested in knowing more relevant information? Click here:URL.php?id=16051 Segmental Analysis: 1. The liquid segment held the largest share in the levulinic market in 2021. Before commercial use, levulinic acid was prepared using heating fructose with hydrochloric acid. Many concepts for the commercial production of levulinic acid are based on strong acid technology. 2. The Europe region held the largest share in the Levulinic Acid Market in 2021 up to 34% owing to its increased use in the manufacturing of pharmaceuticals, automobiles, personal care, and the food and beverage industry. Different derivatives of levulinic acid are used across the industries as per the product need. The production of pharmaceuticals is increasing in the European region which is benefiting the Levulinic Acid Market. 3. The biofine segment held the largest share in the Levulinic Acid Market in 2021. The wide use of biofine technology in levulinic acid is attributed because it avoids the usage of microorganisms. The biofine technology uses a high temperature, dilute acid-catalyzed, rapid hydrolysis of lignocellulosic biomass which is then used in the levulinic acid. 4. The levulinic acid ketals (LA-katels) segment held the largest share in the Levulinic Acid Market in 2021. Levulinic acid katels (LA-katels) is widely used in comparison with other derivatives because it has broad solvency power, low volatility, high coupling anility, high safety profile, and biodegradation. 5. The pharmaceutical segment held the largest share in the Levulinic Acid Market in 2021 and is growing at a CAGR of 13.4% during 2022-2027. Levulinic acid is widely used in the precursor of pharmaceutical manufacturing of anti-inflammatory medication, anti-allergy agents, mineral supplements, and transdermal patches. Calcium levulinate is produced with the reaction of levulinic acid levulose and calcium hydroxide. Competitive Landscape: The top 5 players in the Levulinic Acid Industry are - 1. GF Biochemicals, Ltd.2. Toyota Chemical Co. Ltd3. Heroy Chemical Industry Co., Ltd. 4. Biofine Technology LLC5. Parchem Fine & Speciality Chemicals Co., Ltd. Click on the following link to buy the Levulinic Acid Market Report:URL Why Choose IndustryARC? IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports. Related Reports: A. China Levulinic Acid Market__URL__.html B. Biofuel Market__URL__.html Contact Us:Mr. Venkat ReddyIndustryARCEmail: EMAIL, __EMAIL__SA: (+1) 970-236-3677, (+1) 815-656-4596IND: (+91) 40-485-49062 Venkat Reddy
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