February 07, 2020
According to the research report titled ‘Lignin Market Size By Product (Kraft Lignin, Lignosulphonates, Low Purity Lignin), By Application (Aromatics, macromolecules), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Russia, Poland, China, India, Japan, South Korea, Thailand, Malaysia, Australia, Brazil, Argentina, Saudi Arabia, UAE, South Africa), Lignin Downstream Potential (Vanillin, Carbon Fiber, Phenol, BTX), Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, the global lignin market is expected to cross USD 1 billion by the year 2025.
According to the report, growing inclination towards sustainable materials in order to reduce carbon emissions is a major factor driving the lignin market growth. Lignin products are widely used to produce macromolecules which are used in various applications such as animal nutrition and dust control. Moreover, growing demand for high performance additives for producing concrete mixtures, binders, and adhesives is further aiding the market expansion.
As per product type, the report states that lignosulphonates market segment is expected to grow with a CAGR of 5% during the period of 2019-2025. Lignosulphonates offer durability, strength and economic feasibility as well as help in reducing the formulation cost. Rising adoption of this product in industries such as concrete admixture, dust management, dyes and pesticides are contributing towards popularity of the product across the globe. Moreover, increasing usage of lignosulphonates in crop protection and road dust management applications will stimulate the industry outlook in the approaching years.
Considering the geographical landscape, the report cites that the North America lignin market is presumed to expand by 4% by the year 2025. Rising population, growing inclination towards development of sustainable infrastructure and rising renovation and remodeling activities of existing infrastructure are augmenting the regional demand for lignin.
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On the other hand, lignin market in Europe is expected to cross USD 360 million by the year 2025. Various governments across Europe have introduced strict regulations to reduce greenhouse gases levels. Adding to this, rising concerns regarding the use of synthetic chemicals in automotive industry has led to development of innovative and sustainable solutions which in turn is favoring the market outlook. Moreover, favorable government reforms which encourage the use of bio-polymers are fostering the demand for lignin across Europe.
West Fraser, Sigma Aldrich, Ingevity Corporation, Fibria Celulose S.A., Metsa Group, Nippon Paper Industries Co. Ltd., Liquid Lignin Co., The Dallas Group of America Inc., Changzhou Shanfeng Chemical Industry Co., Burgo Group S.p.A., Stora Enso Oyj, Domsjo Fabriker AB (Aditya Birla), Domtar Corporation, Rayonier Advanced Materials and Borregaard LignoTech are the prominent companies operating in the lignin market.
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