Levulinic Acid Market Stand Out as the Biggest Contributor to Global Growth 2019
Posted by Mangesh Mahajan on July 22nd, 2019
Levulinic Acid Market
GFBiochemicals, Ltd. (Italy), Segetis, Inc. (U.S.), Heroy Chemical Industry Co., Ltd. (China), Parchem fine & specialty chemicals (U.S.), Tokyo Chemical Industry Co. Ltd. (Japan), E. I. du Pont de Nemours and Company (U.S.), Biofine Technology LLC (U.S.), China Shijiazhuang Pharmaceutical Group Co. Ltd. (China), Apple Flavor & Fragrance Group Co., Ltd. (China), Hebei Langfang Triple Well Chemicals Co., Ltd (China), Avantium Inc,( Netherland), Tokyo Chemical Industry Co. Ltd( Japan), and Hefei TNJ Chemical Industry Co Ltd( China), among others are some of the prominent players at the forefront of competition in the global Levulinic Acid Market and are profiled in MRFR Analysis.
Levulinic Acid Market– Market Overview
Levulinic acid also classified as keto acid is an organic compound derived from the degradation of cellulose. It is generally produced from biomass, manure, and brewery waste and is a potential replacement for petroleum based products. Levulinic acid is also produced ozone based oxidation of ketones and by acidic hydrolysis furfuryl alcohol. Levulinic acid has a wide variety of applications such as pharmaceuticals, as a replacement of plasticizers, food additives, pesticides, and are also used in cigarettes for increasing nicotine content. The global Levulinic acid is segmented on the basis of technology, application and region. On the basis of application, pharmaceuticals and agriculture is expected to grow at a highest CAGR during the forecast years. In pharmaceuticals, Levulinic acid is used as indomethacin and calcium levulinate, an anti-inflammatory medicine whereas agricultural applications includes chemical fertilizers and pesticides.
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According to the analysis of MRFR, the major market forces and trends driving growth of the global Levulinic Acid market includes growing usage of Levulinic acid in the chemical industry as a replacement for the synthetic counterparts, and increasing demand for the use in the pharmaceuticals, cosmetics, biofuel production, among others. The market growth of Levulinic acid is also attributed owing to the potential replacement of phthalate plasticizers for the manufacture of PVC. This is due to the wide application PVC in different industries such as automotive, healthcare and packaging among others. Moreover, the increasing use of Levulinic acid in chemical fertilizers and pesticides is also expected to contributive the market demand.
Levulinic Acid Market- Competitive Landscape
The global Levulinic Acid market is a highly lucrative market driven by flourishing advances and demand from the chemical industry along with the increasing application in the pharmaceuticals and agriculture industry among others. GF Biochemical, Ltd., Segetis, Inc., Heroy Chemical Industry Co., Ltd., Parchem fine & specialty chemicals, Tokyo Chemical Industry Co. Ltd., E. I. du Pont de Nemours and Company, Biofine Technology LLC are some of the prominent players operating in the market .Most of these market participants are adopting the innovation and product launch tactics to strengthen their production capacities and market position. Taking account of these trends, the global Levulinic Acid market is projected to witness considerable competition over the forecast period of 2017-2023.
· Segetis Inc. (U.S.)
· Heroy Chemical Industry Co.Ltd. (China)
· Parchem fine & specialty chemicals (U.S.)
· Tokyo Chemical Industry Co. Ltd. (Japan)
· E. I. du Pont de Nemours and Company (U.S.)
· Biofine Technology LLC (U.S.)
· China Shijiazhuang Pharmaceutical Group Co. Ltd. (China)
· Apple Flavor & Fragrance Group Co.Ltd. (China)
· Hebei Langfang Triple Well Chemicals Co.Ltd (China)
· Avantium Inc,( Netherland)
· Tokyo Chemical Industry Co. Ltd( Japan)
· Hefei TNJ Chemical Industry Co Ltd( China)
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About the AuthorMangesh Mahajan
Joined: July 17th, 2019
Articles Posted: 502
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