Global Gamma Valerolactone (CAS 108-29-2) Market is expected to reach 757 K USD by 2024
The Global Gamma Valerolactone (CAS 108-29-2) market size was 724.31 K USD in 2017 and it will be 756.66 K USD in 2024, with a CAGR 0.63% from 2017 to 2024.
Gamma valerolactone is colorless liquid derived from levulinic acid. Conversion of levulinic acid into GVL is proven with existing catalysts, resulting in high yields at reasonable operating conditions.
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Gamma valerolactone has been used in food flavors, solvent industry, as well as chemical synthesis and so on. Among various applications, food flavors accounts for the largest consumption share with 80.57% in 2017.
The gamma valerolactone industry is relatively small at the moment. There are only a few manufacturers engaged in the production. Manufacturers of Anhui Hyea gamma valerolactone mainly concentrate in China. Aromas is the largest producer of gamma valerolactone, owning 62% production share globally.
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