Global Ethyl Levulinate Market to Reach USD 19.80 Million by 2032, Aided by the Rising Demand from the Fragrance Industry

The significant demand for ethyl levulinate in Canada and the United States has been driving the market for the product in North America. The regional demand is being driven by the rising adoption of food additives to enhance the taste of the products. Due to the prominent presence of major international perfume brands, along with the increasing purchasing power of consumers, the rising demand for perfumes and body spray may stimulate the fragrance industry's demand for ethyl levulinate in the region. The growing understanding of biofuel and strict emission rules are also expected to propel the growth of the industry in the coming years.

In the coming years, the market is expected to be driven by the rising adoption of ethyl levulinate in biofuels, supported by the rising innovations in the field, which makes the product's inclusion possible and feasible. In January 2020, scientists in India were successful in discovering a new zeolite catalyst that makes the process of converting industrial biomass into organic biofuel compounds more feasible. The zeolite catalyst had demonstrated good performance in tests with a 100% conversion of Furfuryl alcohol, 97% biodiesel ethyl levulinate yield, and 3% ethoxy methyl (a food additive) furan yield. The new HPW/ Meso-HZ-5 catalyst has achieved a substantially improved efficiency compared to the separate use of the parent catalysts H-ZSM-5 and Meso-HZ- 5. Such developments are expected to propel the growth of the ethyl levulinate industry in the forecast period.

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Market Analysis by Type, Application, and Region:

• The types of ethyl levulinate can be divided into food grade and industrial grade.

• The application sectors in the industry include food additives, fragrances, and pharmaceutical intermediate, among others.

• The regional markets for ethyl levulinate include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The rising demand among the manufacturers for bio-based solvents is likely to boost the market growth.

• The demand for the product will also rise due to the favourable regulatory framework and multiple R&D initiatives.

• The rising disposable income of the consumers is expected to further propel the market growth.

• The changing consumer preferences and enhanced living standards, particularly in the emerging economies, can also aid the industry growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for ethyl levulinate for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecasted (2024-2032) markets for the types, applications, and major regions of ethyl levulinate.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter's Five Forces models.

The major players in the global ethyl levulinate 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 comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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