Levulinic Acid Market Sizes, Top Vendors, Industry Research Analysis And Forecast By 2020: Grand View Research Inc.
San Francisco, 27 March 2019: The Report Levulinic Acid Market Analysis And Segment Forecasts To 2020 Global Levulinic Acid Market demand was 2,606.2 tons in 2013 and is projected to be 3,820 tons by 2020. The increasing application of levulinic acid, especially in pesticides, solvents, pharmaceuticals, and cosmetics industries are anticipated to boost growth in the coming years. Over the past few years, the chemical industry has continually been striving towards attaining a sustainable growth, with a focus on the development of renewable biotechnological and bio-based products. The production technology for bio-based levulinic acid has been simplified by dehydration of biomass or carbohydrates with acid. Levulinic acid is being increasingly used as a substitute to its synthetic counterparts in industrial usage. The global levulinic acid market is anticipated to reach USD 19.65 million revenue, with a growing CAGR of 4.8% by 2020. Increasing usage of the acid in niche appl