Levulinic Acid Market– Market Overview
Levulinic acid also classified as keto acid is an organic compound derived from the degradation of cellulose. It is generally produced from biomass, manure, and brewery waste and is a potential replacement for petroleum based products. Levulinic acid is also produced ozone based oxidation of ketones and by acidic hydrolysis furfuryl alcohol. Levulinic acid has a wide variety of applications such as pharmaceuticals, as a replacement of plasticizers, food additives, pesticides, and are also used in cigarettes for increasing nicotine content. The global Levulinic acid is segmented on the basis of technology, application and region. On the basis of application, pharmaceuticals and agriculture is expected to grow at a highest CAGR during the forecast years. In pharmaceuticals, Levulinic acid is used as indomethacin and calcium levulinate, an anti-inflammatory medicine whereas agricultural applications includes chemical fertilizers and pe
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Market Overview The Global Trifluoroacetic Acid (TFA) Market surpassed USD 271 million in 2017. TFA is an acetic acid derivate used as an intermediary product in the manufacturing of pesticides. The demand for TFA anhydride is primarily driven by the high demand for pesticides in the agricultural industry. With the growing population, the demand for food is expected to increase rapidly in the coming years. To meet this increasing demand, efficient crop production with better quality is necessary. However, rapid industrialization and urbanization have led to limited availability of cultivable land, which has resulted in an increase in the use of agrochemicals. The World Bank reported that the arable land in China declined to 118.9 million hectares in 2016 from 119.0 million hectares in 2015. In January 2018, Jubilant Life Sciences received an approval from the Indian government to establish a pesticide intermediate and technical grade pesticide plant in Gujrat, India, worth USD 3
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