The new report by Expert Market Research titled, ‘Global Ethyl Levulinate Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025’, gives an in-depth analysis of the global ethyl levulinate market, assessing the market based on its segments like types, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2015-2025), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2015-2025)
• Forecast CAGR (2020-2025): 3%
• Forecast Market Size (2025): USD 14 million
The growing consumption of ethyl levulinate in the fragrances and flavours industry is driving its market growth. The rising disposable incomes and improved living standards of the consumers are also adding to the market growth. The changing consumer preferences in emerging countries are also creating a demand for the product. The increasing demand for bio-based solvents is aiding the market. Further, the increasing R&D activities, coupled with a favourable regulatory environment, are providing a further impetus to the market growth. Technological advancements, such as the production of ethyl levulinate from furfuryl alcohol that has been derived from biomass, are providing an impetus for the market growth. The aforementioned factors are anticipated to aid the market growth in the forecast period as well.
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Industry Definition and Major Segments
Ethyl levulinate is an organic chemical compound, which is extracted from levulinic acid. It is an ester that can also be synthesised by the chemical reaction between ethanol and furfuryl alcohol. The chemical is also emerging as a feasible option for biofuels as its precursors are extensively derived from biomass.
Based on type, the market is segmented into:
• Food Grade
• Industrial Grade
By application, the market is categorised into:
• Food Additives
• Fragrances
• Pharmaceutical Intermediates
• Others
The major regions of ethyl levulinate are:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Market Trends
The rising innovations have made the inclusion of ethyl levulinate in biofuels feasible. Higher costs of ethyl levulinate feedstock could hinder the market growth. The key market players are emphasising on the development of cheaper alternatives to the existing feedstock, which will have a positive impact on the market. The discovery of a novel zeolite catalyst that eases the conversion of industrial biomass to biofuel is creating growth opportunities in the market. In addition to zeolite, HPW/Meso-HZ-5 catalyst has enhanced the sustainability and efficiency of the process. Furthermore, the stringent regulations on emission are propelling the market growth of the ethyl levulinate industry.
Key Market Players
The major players in the market are Advanced Biotech Inc., Axxence Aromatic GmbH, Berje Inc., Indukern F&F Ingredients Division, Beijing LYS Chemicals Co., Ltd, and GFBiochemicals Ltd, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviors. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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