Scienza e Tecnologia
Levulinic Acid Market to Generate $61.04 Million Revenue by 2030, Says P&S Intelligence
Developing countries, such as India and China , have a massive levulinic acid and derivative production capacity. Moreover, the demand for sodium levulinate is rapidly increasing due to its rising application in food preservatives, to enhance the shelf life of products, and in cosmetics, as a skin conditioner.
In the coming years, the highest CAGR, of more than 10%, will be witnessed by the fuel additives application category. The low toxicity, stable flash point, high lubricity, and appreciable flow attributes make levulinic acid an important diesel and gasoline additive.
Ethyl levulinate, a derivative of the chemical, reduces the emission of sulfur from diesel. In this regard, the stringent regulations of governments for reducing the GHG emissions from on-road and non-road diesel engines drive the market.
Acid hydrolysis captures a substantial industry share, of over 60%. It is credited to the massive usage of this technology in producing levulinic acid and its derivatives, as the process enables various applications of the heterogenous lignocellulosic feedstock. In addition, the rising awareness of the benefits of the process propels the adoption of this method.
APAC captures the largest share of the industry, and it is the fastest-growing market as well, witnessing a rate of over 10% in the future. It is ascribed to the rising demand for this chemical for fuel additive production, including n-butyl levulinate, and the high-volume adoption of bio-based products for various applications, such as agricultural products, personal care products, and drugs.
P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.
Prajneesh Kumar
P&S Intelligence
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