(PharmaNewsWire.Com, December 17, 2019 ) The report "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", The levulinic acid market is projected to reach USD 32.5 Million by 2021, at a CAGR of 14.0% between 2016 and 2021. This growth can be attributed to the increasing consumption of levulinic acid in pharmaceuticals and cosmetics.
Among applications, the plasticizers segment is expected to lead the levulinic acid market during the forecast period
Based on application, the plasticizers segment accounted for a major share of the levulinic acid market in 2015. Plasticizers are organic esters that are used to provide more flexibility to plastics, such as polyvinyl chloride (PVC). PVC is used in several applications due to its low cost, durability, and versatility. Levulinic acid-derived ketal esters can be a potential replacement of phthalate-based plasticizers, which make majority of the world’s plasticizer market. With increasing demand for renewable, phthalate-free plasticizers, particularly used in children toys, as well as for products that are used by humans, the demand for levulinic acid is expected to grow during the forecast period.
Browse in-depth TOC on "Levulinic Acid Market” 27 - Market Data Tables 52 - Figures 113 - Pages
North America is expected to lead the levulinic acid market during the forecast period
North America accounted for the largest share of the levulinic acid market in 2015, followed by Europe and Asia-Pacific. The U.S. is one of the major consumers of levulinic acid in North America. Increasing investments in organic materials by leading companies of the fast moving consumer goods industry for end-products, and rising demand for levulinic acid from pharmaceuticals and cosmetics industries are expected to drive the North America levulinic acid market.
Major players in the levulinic acid market are Biofine International Inc. (U.S.), Avantium (Netherlands), GF Biochemicals Ltd. (Italy), Langfang Triple Well Chemicals Co. Ltd (China), Simagchem Corporation (China), Hefei TNJ Chemical Industry Co., Ltd. (China), Great Chemicals Co. Ltd. (China), and Anhui Herman Impex Co Ltd (China), among others.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including:
