Dihydrolevoglucosenone Market Size, Share & Trends Analysis Report By Application, By Region, And Segment Forecasts, 2023 To 2030

Dihydrolevoglucosenone (DHL), commonly known as Cyrene, is a bio based solvent. It is a green alternative to traditional solvents such as N, N-dimethylformamide (DMF) and N, N-dimethylacetamide (DMAc), which have high toxicity and are harmful to the environment. Cyrene is derived from cellulose and is a cyclic ether with a high boiling point, low vapor pressure, and good solvency power. It is used in various applications, including organic synthesis, extractions, and as a replacement for traditional solvents in the pharmaceutical and agrochemical industries. It is considered a sustainable and environmentally friendly solvent as it is derived from renewable sources and has a low environmental impact.

The demand for dihydrolevoglucosenone is increasing on the account of rising demand for sustainable and green solvents globally. In addition, governments and regulatory bodies around the world are implementing stricter regulations on the use of hazardous solvents in various industries. This has also led to a shift towards the use of safer and more environmentally friendly solvents like Cyrene. Furthermore, the production of dihydrolevoglucosenone has become more efficient and cost-effective due to advancements in technology. This has helped to lower the cost of production and increase the availability of the solvent, further driving its adoption in various industries.

On the contrary, while Cyrene is a green solvent, other solvents available also have low toxicity and environmental impact. As a result, competition from these alternative solvents could negatively affect the demand of the product. Additionally, while the cost of producing dihydrolevoglucosenone has decreased due to advancements in technology, it is still more expensive than some traditional solvents. This could limit its adoption in some industries, particularly those with tight profit margins. Moreover, cyrene is derived from cellulose, which is a renewable resource. However, its availability could be affected by factors such as changes in land use, weather conditions, and market demand for other cellulose-based products. This could limit the availability of raw materials for Cyrene production and affect its market supply.

The global market for dihydrolevoglucosenone is experiencing high competition on the account of presence of large-scale manufacturers and their robust hold in the market. Some of the manufacturing companies of Dihydrolevoglucosenone (Cyrene) are Solvay S.A., Circa Group AS, Tokyo Chemical Industry Co., Ltd., Haihang Industry Co., Ltd., Shandong Luba Chemical Co., Ltd., and Carl Roth, among others. These manufacturers are undertaking various strategic initiatives like distribution agreements, product development, portfolio expansion, and geographical expansion to name a few. For instance, Circa Group AS, in January 2023, signed supply agreement with Oqema to supply several thousand tons of cyrene per year. Such strategies help the manufacturing companies to maintain their dominance over the market.