Levulinic acid market set to benefit from expanding applications

Jan. 12, 2015

Demand is growing for levulinic acid (4-oxopentanoic acid), a platform chemical used to manufacture various other chemicals.

Demand is growing for levulinic acid (4-oxopentanoic acid), a platform chemical used to manufacture various other chemicals.

According to a new report from Research and Markets, an increase in the number of applications of levulinic acid is one of the major trends on the horizon. The global levulinic acid market is forecast to rise at a compound annual growth rate (CAGR) of 4.52 percent over the period 2014-2019 as key vendors introduce innovative products that cater to new applications.

Levulinic acid is a sustainable, bio-based organic compound derived from raw materials such as biomass, manure, bagasse and brewery waste. The key end-users of the chemical are the agriculture, pharmaceutical, food and cosmetics industries.

In particular levulinic acid has applications in pesticides and fertilizers, and the agriculture industry is one of the major users of the product.

Among the challenges facing producers is the threat of substitution from synthetic chemical alternatives. In the current market, the price of levulinic acid is higher than its synthetic counterparts, which means that price-sensitive end-users tend to show a strong preference for the latter.

High costs for research and development also present a challenge.

The key vendors identified by Research and Markets are Biofine Technology, DuPont and Segetis, which dominate supply. Other prominent vendors include Avantium, Le Calorie, Sigma-Aldrich and and xF Technologies.

Sponsored Recommendations

Choosing The Right Partner for CHIPS Act Investments

As the U.S. looks to invest in the semiconductor research and production using CHIPS Act 2022 funding, it's important to choose the right partner.

EMWD Uses Technology to Meet Sustainability Goals

Eastern Municipal Water District pilots artificial intelligence-enabled control and machine learning to help save energy, reduce costs, and improve quality.

Protein Processing Solutions: Automation & Control

For protein processors looking to address industry challenges, improve efficiency, and stay ahead in a competitive market, Rockwell Automation offers tailored automation, control...

Automotive Manufacturing Innovation: Smart Solutions for a Connected Future

Rockwell Automation provides automation and control systems tailored for the automotive and tire industries, supporting electric vehicle production, tire production, battery production...