Chemical & Materials Trending Levulinic Acid Market | Page 4

Industrial Insights
❖Major application industries using levulinic acid are plasticizers, pharmaceuticals & cosmetics, and
others.
❖The demand from these industries for levulinic acid is projected to grow in the coming years, as
these acids are bio-based and renewable. With fluctuations in crude oil prices, these industries
are compelled to use renewable feedstock instead of petrochemical-based feedstock.
❖Based on application, the levulinic acid market has been segmented into plasticizers,
pharmaceuticals & cosmetics, and others.
❖The plasticizers segment accounted for the largest share of the levulinic acid market in 2015. The
pharmaceuticals & cosmetics segment is expected to grow at the fastest rate during the forecast
period.
❖Based on technology, the levulinic acid market has been segmented into acid hydrolysis and
biofine
❖Biofine process is one of the key processes used in the European levulinic acid market, which are
designed by the BioFine Company.
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