Lignin Market, By Product (Organosolv Lignin, Kraft Lignin, Ligno-Sulphonates, and Others), By Source (Kraft Pulping, Cellulosic Ethanol, and Sulfite Pulping), By Application (Aromatics, Dye stuff, Macromolecules, Concrete Additive, Animal Feed, Absorbents, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa) – Trends, Analysis, and Forecast till 2029
Lignin Market is the phenolic compound exist as second most abundant polymer next to cellulose which biologically supports in stress resistance ,water transport etc. Lignin is the organic polymer found in plants cell wall.
High demand of lignin in animal feed because of their nutritional value, infrastructure development, use in production of biofuel, binders, bio-plastic has driven the Lignin Market growth. Rising investment in developing lignin-based carbon fibers is expected to foster the Lignin market growth over the forecast period.
Key Highlights:
- In July 2022, Finland based Stora Enso and Northvolt inked an agreement to develop batteries by using renewable wood from Nordic forests. The batteries will be made by using process of lignin-based hard carbon produced with wood.
- In March 2021, RenCom launches a new Lignin based biomaterial which is durable lignin based thermoplastic called Renol is used in mulch film, injection molding, to infill the artificial football pitches, automotive parts, replacing the tire crumb rubber.
- In May 2021, Praj industries has announced the development of technology to produce Lignin based bio-bitumen. The company has surged 8% on developing eco-friendly bitumen.
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Analyst View:
The rapid increase in investment in development of low-cost coal based carbon fibers, rising demand for bets quality concrete admixtures has driven the target market growth. Due to beneficial properties such as lignin enhance rigidity of plant cell wall, promotes transportation of minerals by vascular bundles in plants and its hydrophobic properties it is widely used and has become an important barrier which protects against pests and pathogens. Further, rising demand in animal feed and use in energy production is expected to fruitful the Lignin market growth over the forecast period.
Key Market Insights from the report:
Lignin Market accounted for US$ 883.6 million in 2022 and is estimated to be US$ 1689.0 million by 2032 and is anticipated to register a CAGR of 6.3%. The Lignin Market is segmented based on Product, Source, Application and Region.
- Based on Product, Lignin Market is segmented into Organisolv Lignin, Kraft Lignin, Lingo-Sulphonate and other.
- Based on Source, Lignin Market is segmented into Kraft Pulping, Cellulosic Ethanol, Sulphonates and others.
- Based on Applications, Lignin Market is segmented into Aeromatics, Dye Stuff, Macromolecule, Concrete Additive, Animal Feed, Absorbents and others.
- By Region, the Lignin Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
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Key Players:
- Asian Lignin Manufacturing Pvt. Ltd.
- Borregaard LignoTech
- Domsjö Fabriker (Aditya Birla Group)
- Tembec Inc.
- Domtar Corporation
- Changzhou Shanfeng Chemical Industry Co. Ltd.
- Hubei zhengdong chemical Co. Ltd.
- Nippon Paper Industries Co. Ltd.
- MeadWestvaco Corporation
- Inventia AB, and others.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
Key Questions answered in the report:
What is the scope of the market research report?
Lignin Market is segmented on the basis of product, application and region.
What are the growing factors related to market growth?
Increasing demand for lignin in animal feed and natural products is anticipated to drive the growth.
What are the regions considered in the report & which region will dominate the market?
Europe was the largest market for the consumption of lignin among all the other regions.
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