A
new research report by Transparency Market Research offers a
comprehensive evaluation of the global Levulinic
Acid
Market. The
study, titled “Levulinic
Acid Market - Global Industry Analysis, Size, Share, Growth, Trends
and Forecast 2016 - 2023”,
is available for sale on the firm’s website.
Levulinic
acid is an organic compound which is deemed to replace petroleum
based products, in sectors such as chemical industry and bio-fuel
among others, in the near future. It has been classified as a keto
acid and is generally produced from brewery waste, biomass and manure
among others. Levulinic acid can also be produced by acidic
hydrolysis of furfuryl alcohol, by hydrolyzing acetyl succinate
esters and by ozone based oxidation of ketones. It is a white
crystalline solid and is also known as 4-oxopentanoic acid. In
principle, it is formed by heating sucrose along with concentrated
acid. Formic acid is also formed during the process. Levulinic acid
is soluble in water, diethyl ether and ethanol but is insoluble in
aliphatic hydrocarbons. It has a molar mass of 116.11g/mol and a
density of 1.14g/cm3. Levulinic acid is comparatively non-toxic in
nature, having a LD50 of 1850 mg/kg.
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Levulinic
acid is deemed to posses the potential of replacing phthalate
plasticizers. This is because of the presence of ketal monomers of
natural origin which can bind with the poly-vinyl chloride (PVC)
molecules firmly. It is also used as precursors of plasticizers and
pharmaceuticals among others. Biofuels such as ethyl levulinate,
methyltetrahydrofuran and valerolactone are also being prepared with
levulinic acid.
The
growth of the market for levulinic acid can be primarily attributed
to its potential of replacing phthalate plasticizers used for
manufacturing PVC. This is because PVC is widely used for manufacture
of various products across different industry verticals, such as
healthcare, automotives and packaging among others. Additionally,
levulinic acid is relatively less toxic while phthalate plasticizers
can pose health concerns for children. Furthermore, with increasing
research and development (R&D), levulinic acid is being utilized
as food additives, pharmaceutical manufacturing, biofuel production
and pesticides among others. It is also used in cigarettes for
increasing nicotine content, being delivered by the smoke. However,
the main constraint of levulinic acid market is the bio-based
production of it in large scale. Bio-based production of levulinic
acid is currently unable to match the selling price of levulinic acid
manufactured from other sources, though the production quantity is
much higher. With heightening interest in levulinic acid and
increasing fund allocation on R&D of manufacturing technology,
the restraints faced by the levulinic acid market can be expected to
be overcome in the near future.
The
levulinic acid market can be segmented by applications into
agriculture, cosmetics, food & beverages, pharmaceuticals and
others. Additionally, levulinic acid market can be geographically
segmented into North America, Europe, Asia-Pacific (APAC) and rest of
the world (ROW).
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Some
of the key companies leading the levulinic acid market are
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) and Hebei Langfang Triple Well
Chemicals Co., Ltd (China) among others.
This
research report analyzes this market on the basis of its market
segments, major geographies, and current market trends. Geographies
analyzed under this research report include
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