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Levulinic Acid Market is anticipated to expand at a CAGR of ~5% from 2019 to 2027 – KSU


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.
Key Drivers of Levulinic Acid Market
According to L’Oréal, a leading manufacturer of cosmetic products, the global cosmetics industry was valued at
 US$ 532 Bn in
 5.5% from 
2019 to
 2020. The industry is primarily driven by rise in urbanization, continuous increase in online purchase of beauty products, and growth in the adoption of social media platforms.
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