Global Levulinic Acid Market Is Expected to Reach Usd 917.2 Kilo Tons by 2014 to 2020

The global market for levulinic acid is expected to reach 917.2 kilo tons by 2020, according to a new study by Grand View Research, Inc. Growing applications of levulinic acid in pharmaceuticals, pesticides, cosmetics and solvents is expected to drive the demand over the next six years. In addition, technology development for levulinic acid production, in order to reduce cost to competitive levels is further expected to augment the growth of the market over the forecast period. As of 2013, levulinic acid was a small segment of the platform chemicals market but with development of applications such as Methyltetrahydrofuran (MTHF), DALA, ethyl levulinate and Diphenolic Acid, the potential demand is expected to be in excess of 25,000 kilo tons over the next six years.

Various companies such as DuPont, Segetis and Biofine have developed patented process for the manufacturing of levulinic acid through bio-based routes. This is expected to open up opportunities for the market which till date were constrained due to the limited availability of raw material feedstock. In addition, the companies also claim to have developed processes which would reduce the price of levulinic acid from its current range of USD 5 to 8 per kilo to less than USD 1 per kilo. This is expected to result in increased application scope for levulinic acid with the chemical being used in applications such as solvents, pesticides, fuels, fragrances and acrylic monomers among others.

The report “Levulinic Acid Market Analysis and Segment Forecasts to 2020,” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/levulinic-acid-market

Further Key findings from the study suggest:

Delta aminolevulinic acid (DALA) was the largest application segment for the levulinic acid market, accounting for over 50% of the global consumption in 2013. The key reason was the growing demand for organic...