Levulinic acid has been majorly adopted by agricultural industry with key applications in fertilizers and pesticides. The strong demand arising from the agricultural industry is one of the major drivers in the global levulinic acid market. Also the regulatory scenario in the levulinic acid market is in favor which shows a positive influence on levulinic acid demand for the coming years.
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Levulinic acid is an organic compound, also called 4-oxopentanoic acid and is derived from bio-based sources such as biomass, bagasse, brewery waste and manure. It is a white colored crystalline solid in physical form and soluble in ethanol, water, and diethyl ether.
Levulinic acid manufacturers are spending highly on research and development to reduce cost of Levulinic acid to achieve substitution of synthetic products with Levulinic acid in potential applications like polymers and fuel additives.
Levulinic acid has a range of applications in agriculture, pharmaceuticals, food industry and cosmetics and slight usage in synthetic rubbers, plastics and nylon. Levulinic acid is also used as raw material for the manufacturing of polyols and plasticizers. Levulinic acid has replaced phthalate plasticizer used in manufacturing polyvinyl chloride (PVC).
Among the regions, North America dominates the levulinic acid market with highest consumption. Europe and Asia Pacific market follows North America. The Asia Pacific market is fast developing and Chinese manufacturers have been supplying levulinic acid to U.S and European based downstream companies at reduced prices for their individual application.
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Key market participants for levulinic acid include Langfang Triple Well Chemicals Co., Ltd., DuPont, Biofine , Shanghai Apple Flavor & Fragrance Co., Ltd., Segetis Inc, CSPC Huasheng Pharmaceutical Co., Ltd, CSPC Ouyi Pharmaceutical Co., Ltd. and Jiangsu Yancheng China Flavor Chemicals Co., Ltd among others.
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