LEVULINIC ACID MARKET TO REACH A VALUATION OF ~US$ 41.2 MN BY 2027

Pythonholic12 Apr, 2021Business

The levulinic acid market was valued at ~US$ 26.2 Mn in 2018 and is anticipated to expand at a CAGR of ~5% from 2019 to 2027. The Asia Pacific led the global agrochemical industry, accounting for approximately 30% share in 2018. Countries in Asia, such as South Korea, China, Japan, and Vietnam, are applying herbicides in large amounts onto short-term as well as perennial crops. Thus, growth of the agrochemical industry in Asia Pacific is driving the levulinic acid market in the region.