γ-Valerolactone as a Promising Solvent and Basic Chemical Product: Catalytic Synthesis from Plant Biomass Components

γ-Valerolactone (GVL) is a valuable chemical compound known as a platform molecule. It is considered as an intermediate product for the synthesis of chemical compounds with high added value, components of motor fuels, and biopolymers. GVL is well established as an environmentally safe solvent, fuel additive, flavoring, and nutritional supplement. This review summarizes the latest advances in the development of catalytic ways of GVL synthesis from levulinic acid (LA), alkyl levulinates (ALs), and carbohydrates and plant polymers. Special attention is given to heterogeneous catalysts based on metals and metal oxides, which are more promising for practical application. Proposed mechanisms of the processes are considered in detail, and the prospect of using hydrogen-donor solvents in the processes of GVL production is discussed. Catalysts demonstrating the best catalytic properties are compared from the viewpoint of their productivity, an important parameter for industrial catalysis.