Global Levulinic Acid Market Industry Analysis and Growth Forecast to 2024 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Feb 6, 2020--
The “Levulinic Acid Market Research Report: By Technology, Application, Geographical Outlook - Global Industry Analysis and Growth Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.
From valuing $26.3 million in 2018, the global levulinic acid market is predicted to grow to $34.5 million by 2024, registering a CAGR of 4.9% during the forecast period (2019-2024).
The largest application area of levulinic acid across the world is as fuel additives. Further, the levulinic acid market is predicted to witness the fastest growth in this category in the forecast period. This can be attributed to the rising concerns about the environment regarding the depleting fossil reserves, which make up for most of the energy needs in the present time. Additionally, the category of personal care products is expected to register notable growth, due to the rising popularity of bio-based personal care and cosmetics products.
The rising adoption of levulininc acid derivatives across various end-use industries is driving the growth of the levulinic acid market. Recently, the demand for bio-based products, including organic fragrances and cosmetics has surged. The derivatives of levulinic acid, such as diphenolic acid, hydroxymethylfurfural, ethyl levulinate, succinic acid, and sodium levulinate, find application in agricultural products, food and fuel additives, and personal care products. In the personal care industry, a sodium salt derived from levulinic acid, sodium levulinate, is witnessing a high demand, as it is used as a skin-conditioning agent in cosmetics and other personal care products. In addition to that, the salt is also being used as a food preservative, as it helps in inhibiting the growth of aerobic microorganisms while storing food.
In 2018, among all regions, the largest share in the levulinic acid market was held by North America. During the forecast period, the region is expected to register a 9.8% volume CAGR. The high-volume adoption of levulinic acid derivatives in a huge number of applications due to their organic nature is one of the reasons behind the remarkable growth of the market. In addition to being used as a fuel additive, the derivatives of levulininc acid are also used in agricultural products, such as herbicides and pesticides. They are capable of enhancing crop yield and preventing pest infestation. Further, the rising environmental concern in the region, have motivated manufacturers to shift from synthetic insecticides to bio-based ones.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Technology
1.3.2 Market Segmentation by Application
1.3.3 Market Segmentation by Region
1.3.4 Analysis Period
1.3.5 Market Data Reporting Unit
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown of Primary Research Respondents
188.8.131.52 By region
184.108.40.206 By industry participant
220.127.116.11 By company type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Technology
18.104.22.168 Acid hydrolysis
4.1.2 By Application
22.214.171.124 Food additives
126.96.36.199 Agricultural products
188.8.131.52 Personal care products
184.108.40.206 Fuel additives
4.2 Value Chain Analysis
4.3 Market Dynamics
220.127.116.11 Commercialization of bio-based production methods
18.104.22.168 Demand for derivatives in end-use industries
22.214.171.124 Impact Analysis of Drivers on Market Forecast
126.96.36.199 High production costs
188.8.131.52 Impact Analysis of Restraints on Market Forecast
184.108.40.206 Increasing concerns for depleting resources
4.4 Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Buyers
4.4.2 Bargaining Power of Suppliers
4.4.3 Intensity of Rivalry
4.4.4 Threat of New Entrants
4.4.5 Threat of Substitutes
Chapter 5. Global Market Size and Forecast
5.1 By Technology
5.2 By Application
5.3 By Region
Chapter 6. North America Market Size and Forecast
6.1 By Technology
6.2 By Application
6.3 By Country
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. RoW Market Size and Forecast
Chapter 10. Competitive Landscape
10.1 Market Share Analysis of Key Players
10.2 Competitive Benchmarking of Key Players
Chapter 11. Company Profiles
11.1 Heroy Chemical Industry Co. Ltd.
11.2 Hefei TNJ Chemical Industry Co. Ltd.
11.3 Avantium N.V.
11.4 Simagchem Corporation
11.5 GFBiochemicals Ltd.
11.6 Tokyo Chemical Industry Co. Ltd.
11.7 Tcnicas Reunidas S.A.
11.8 Haihang Industry Co. Ltd.
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INDUSTRY KEYWORD: CHEMICALS/PLASTICS MANUFACTURING
SOURCE: Research and Markets
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PUB: 02/06/2020 07:17 AM/DISC: 02/06/2020 07:17 AM