London, 10 December 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Global Levulinic Acid Market 2015-2019, which is expected to grow at a CAGR of 4.52 percent during the forecast period of 2014-2019.
Vendors in the chemical industry are focusing on the development of levulinic acid-based products to enhance their portfolio with sustainable products. The addition of key strategic products, which are less dependent on fossil fuel-based raw materials, provides a competitive edge to market vendors. Hence, the key vendors in the Global Levulinic Acid market have focused on both process and product innovation, contributing to the growth of the market.
“There has been increased focus on attaining sustainability in all activities and processes involved in the sourcing and production of chemicals over the past few years,” says Faisal Ghaus, Vice President of TechNavio.
“Several vendors in the Chemical industry have enhanced their portfolio to include levulinic acid, thereby contributing to the market growth.”
Key Market Drivers
- Strong Demand from Agriculture Industry
- Focus on Sustainability
- Innovation
Key Market Trends
- Emergence of China
- Growing Number of Applications
- Increased Consumption in Biofuel Production
Key Market Vendors
- Biofine Technology
- DuPont
- Segetis
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
