Ethyl Levulinate Market size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1685
Ethyl Levulinate Market size may observe steady growth over the foreseeable timeframe owing to increase in application in food flavours and fragrance industry.
It is formed by levulinic acid esterification with ethanol According to analysis, ethyl levulinate can be manufactured from furfuryl alcohol derived from biomass with aid of eco-friendly catalyst.
Ethyl levulinate is used in research laboratory & institutions as lab chemical. It has positive application scope in analytical separation technique for wine testing. High performance liquid chromatography (HPLC) is used to distinguish various wine types and preserve wine taste. Wine industry is growing in Spain, France, Italy, Portugal and China owing to increasing consumer spending on wine consumption. Wine imparts typical aroma and taste thereby becoming popular in cuisines, biscuits, cookies and chocolate preparation.
Perfume and body spray has accounted highest market share in 2016 in fashion industry. Global fragrance market size was valued at over USD 40 billion in 2016 and may experience significant growth in demand. Ethyl levulinate imparts fragrance to perfumes and spray which forms a vital part of personal grooming kit. Rise in perfumes and body spray demand among young generation owing to growing significance of individual style stating which may propel perfume industry growth. Increasing personal grooming awareness and expanding perfume industry may drive ethyl levulinate market size.
Food additives are essential ingredients in food industry and added to maintain taste, smell and colour of foodstuffs. Food flavour market is poised to surpass at over USD 15.5 billion by 2024. Ethyl levulinate is used as food additive to enhance taste and fragrance of the food item. Increasing convenience food, cakes, snacks demand may boost product demand as food additive. Favourable regulatory norms by Food & extract manufacturer association (FEMA) stating ethyl levulinate safe for human consumption may have positive influence on product market size.
Ethyl levulinate finds application in biodiesel and diesel to improve engine fuel conversion capacity. It reduces fuel smoke generating capacity accompanied with reducing greenhouse gas emission in air. Eco- friendly fuel increases machine life and minimises air emission thereby adhering to strict air pollution regulations imposed by EPA & US. Increasing bio-based fuel demand along with growing environmental consciousness may fuel ethyl levulinate demand.
North America, driven by Canada and the U.S ethyl levulinate market size may witness strong gains. Increasing importance of food additives to improve taste and flavour may drive regional demand. Growing perfumes and body spray demand due to presence of various international perfume brands supported by rising purchasing power is likely to drive fragrance industry thereby stimulating product demand. Rise in awareness for bio fuel and strict pollution regulations may propel industry growth.
Europe driven by U.K, France & Germany ethyl levulinate market may experience favourable growth. Italy & France are fashion trendsetters and account maximum revenue from perfume industry. European wineries have strong hold over global wine supply and increasing wine popularity may drive regional growth.
Asia Pacific led by Japan, India, and China has witness positive growth in ethyl levulinate market size. Rapid urbanisation, hectic life style and increasing working women population has driven RTE food demand in India thereby promoting industry growth. Growing popularity of fragrance in young population has boosted fragrance industry which is likely to fuel product demand.
Ethyl levulinate market is at elementary stage and can witness a steady growth owing to various research conducted to explore full product potential. Commercial grade levulinic acid is primary raw material for manufacturing. High cost of levulinic acid may hamper industry profitability which is likely to affect ethyl levulinate price trend. Increasing investments in research to produce cheaper raw material alternatives may favour industry growth.
Prolonged exposure to ethyl levulinate may cause lung damage, change in behaviour, dizziness, narcosis, eye irritation, and coma. Severe health hazards attract multiple regulation by EPA on use and handling may impede market growth.
Ethyl levulinate market share is fragmented with few players present. Key players are Alfa Aesar, Oakwood Products, Tokyo Chemical, Ventos and Sigma Aldrich.
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