AbstractEthyl levulinate is a diesel additive that has received special attention recently due to its potential for production in large quantities from inexpensive feedstocks. Several processes have been developed for the conversion of biomass into levulinic acid and ethyl levulinate, and an economic analysis of these routes would indicate the main hindering factors of their commercialization. This Review focuses on filling this gap in current knowledge by gathering data from scientific papers and patents to create a simulation to analyze processes by focusing on the production of ethyl levulinate in nine countries or regions across the globe. The key indicator to analyze the economic feasibility of ethyl levulinate production is a comparison of its minimum selling price to the local wholesale price of diesel on an energy basis. Processes simulated in Brazil, China, and India presented promising results with feedstocks such as sugarcane bagasse and rice residues. Also, the integration of ethyl levulinate production into existing ethanol plants is a factor that may improve process economics. Overall, this Review specifies key factors in economic and environmental performances of the processes to indicate research topics that could achieve high impact on industrial‐scale processes once matured.