Levulinic Acid Market Size Was Valued at USD 88.2 Million in 2023 and is Projected to Reach USD 174.85 Million by 2032, Growing at a CAGR of 7.9% From 2024-2032. The manufacture, marketing, and distribution of levulinic acid and its derivatives are all included in the levulinic acid market. Levulinic acid is a multipurpose chemical that is produced from biomass, more precisely from the...

The ongoing depletion of fossil resources and the absence of substitutes for the substances made from oil have increased the demand for levulinic acid. A rising number of compounds, like levulinic acid and bioethanol, are being utilized to produce alternative fuels from biomass, which is also reducing the world's dependency on oil. Levulinic acid is an organic substance that results from the...