Navigating the Growth Trajectory Levulinic Acid Market Insights and Outlook

The levulinic acid market will power at a rate of 9.78% by the end of this decade, to reach USD 61.04 million by 2030. The surge in the commercialization of bio-based methods of production, accompanied by the increasing requirement for the derivates of the compound in end-use sectors, is the main factor powering the growth of the industry.

The acid hydrolysis category had a larger share of revenue, of over 60%, in the past This is because of the extensive use of this technology for the manufacturing of levulinic acid and the derivatives of the same, and this procedure lets for a wider variety of heterogeneous lignocellulosic feedstock use. Also, with the snowballing consciousness with regards to the benefits of the procedure, its adoption will rise rapidly in the future.

Likewise, the growing predisposition to derive this acid from rice husk and biomass is increasing the requirement for acid hydrolysis technology. Also, the widespread research on the acid hydrolysis of cellulose to make levulinic acid is powering the acceptance of this approach.

APAC is the largest and the fastest growing region in the levulinic acid market, powering at a rate of over 10% by the end of this decade. This has a lot to do with the high requirement for levulinic acid for producing fuel additives, for example n-butyl levulinate; the high-volumetric acceptance of biobased products for more than a few uses, such as personal care products and drugs, agricultural products, in India, China, Thailand, and Indonesia; and the rise in the income of the people of the region.

Moreover, the requirement for the compound is also growing in the agriculture sector in APAC. It is extensively used as an additive for eco-friendly herbicides. With the snowballing acceptance of herbicides with renewable chemicals, the use the compound will further increase in the future.

Also, the reducing reserves of fossil fuels and the increasing conservational concerns have brought led to an increased emphasis on the biomass conversion into fuels, which, drives the growth of the industry.