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According to a new report by EMR titled, ‘Global Ethyl Levulinate Market Report and Forecast 2021-2026’, the global market for ethyl levulinate is expected to grow in the forecast period of 2021-2026 at a CAGR of 3% to attain USD 14 million by 2026.
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.
Market Analysis by Type, Application, and Region:
Key Findings of the Report:
Key Offerings of the Report:
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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