DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Levulinic Acid Market by Application (Plasticizers, Pharmaceuticals & Cosmetics), Technology (Acid Hydrolysis, Biofine), and Region (North America, Europe, Asia-Pacific and Rest of the World) - Global Forecast to 2021" report to their offering.
The levulinic acid market is projected to reach USD 32.5 million by 2021
The levulinic acid market is projected to reach USD 32.5 million by 2021, at a CAGR of 14.0% between 2016 and 2021. Increasing consumption of levulinic acid by pharmaceuticals and cosmetics industries is one of the significant factors driving the growth of the levulinic acid market. High price due to low production volumes of levulinic acid is one of the key restraints for growth of the market. However, with capacity expansion, the prices may go down.
Based on application, the pharmaceuticals & cosmetics segment is expected to grow at a high rate during the forecast period
Levulinic acid is an important bio-based platform chemical that is increasingly being used in several applications, owing to its exceptional performance as an anti-inflammatory and minerals supplement. Levulinic acid offers several advantages, such as increasing demand for biochemical across industries and regulations imposed by regulatory bodies, such as governments and environmental associations on use of petrochemical products.
In addition, ketal esters, which are derivatives of levulinic acid, are expected to replace all phthalate-based plasticizers, as these are bio-based. This factor may lead to high demand for levulinic acid in the coming years with changing industry trends for green chemicals.
The levulinic acid market in Europe is projected to grow at the highest CAGR during the forecast period
The Europe levulinic acid market is anticipated to grow at the highest CAGR between 2016 and 2021. This growth can be attributed to the increasing demand for levulinic acid by industries, such as plasticizers, pharmaceuticals, and cosmetics. Germany is anticipated to lead the Europe levulinic acid market, in terms of consumption, during the forecast period.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Market Overview
5 Industry Trends
6 Levulinic Acid Market, By Technology
7 Levulinic Acid Market, By Region
8 Levulinic Acid Market, By Application
9 Company Profiles
- Avantium Inc.
- Biofine International Inc.
- GF Biochemicals Ltd.
- Great Chemicals Co Ltd.
- Hefei TNJ Chemical Industry Co Ltd.
- Langfang Triple Well Chemicals Co Ltd
- Simagchem Corporation
For more information about this report visit http://www.researchandmarkets.com/research/p42llx/levulinic_acid