Levulinic Acid Market Increasing at a CAGR of 14.0% Sep 2016 | Page 2

Levulinic Acid Market: Global Forecasts to 2021 The levulinic acid market is projected to reach USD 32.5 million by 2021 The levulinic acid market is projected to reach USD 32.5 million by 2021, at a CAGR of 14.0% between 2016 and 2021. Increasing consumption of levulinic acid by pharmaceuticals and cosmetics industries is one of the significant factors driving the growth of the levulinic acid market. High price due to low production volumes of levulinic acid is one of the key restraints for growth of the market. However, with capacity expansion, the prices may go down. Based on application, the pharmaceuticals & cosmetics segment is expected to grow at a high rate during the forecast period Levulinic acid is an important bio-based platform chemical that is increasingly being used in several applications, owing to its exceptional performance as an anti-inflammatory and minerals supplement. Levulinic acid offers several advantages, such as increasing demand for biochemical across industries and regulations imposed by regulatory bodies, such as governments and environmental associations on use of petrochemical products. © RnRMarketResearch.com ; [email protected]