Levulinic Acid - A Versatile Platform Chemical for a Variety of Market Applications: Global Market Dynamics, Demand/Supply, Trends and Market Potential
発行: Nova-Institut GmbH
ページ情報: 英文 48 Pages
"A new market report sheds light on the current and future market situation of the previously acclaimed promising bio-based building blocks."
The report on “Levulinic acid - A versatile platform chemical for a variety of market applications - Global market dynamics, demand/supply, trends and market potential” clearly shows that production technology and market demand of levulinic acid has not yet developed according to previous expectations. The promised low-cost direct production from biomass is still under development, leaving room for several possibilities of further development. The market report discusses the future development under proper technological conditions.
Levulinic acid is bearing two different reactive functional groups making it a versatile intermediate for the synthesis of a large number of derivatives.
Its versatility and potential low production cost when produced directly from biomass are the reasons for the Department of Energy (DoE, USA) to select levulinic acid as one of the most promising bio-based building blocks for the fuel and chemical industries in 2004 and in 2010.
However, the production technology and market demand of levulinic acid has not yet developed according to previous expectations. Its direct production from biomass is still under development, being the current production mainly based on furfuryl alcohol, which makes it rather expensive.
Direct production of levulinic acid from biomass has the potential to reduce production costs significantly, which is expected to create additional demand for all current market segments. Apart from that, it is expected that new market segments will open due to the potential of its derivatives, specially and among others: levulinic esters, methyltetrahydrofuran (MTHF), γ-valerolactone (GVL), diphenolic acid (DPA), oligomers for transport fuels and levulinic acid derived ketals.
For those markets, a driver for change will be a combination of additional performance and price. Product availability and security of supply are also important decision factors for change.
When taking into account that time is needed for product development, market introduction and up-scaling of production, a doubling of market demand in five years is carefully estimated, provided that the production technology from biomass is in place.