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Lignin Market - By Raw Material (Hardwood, Softwood, Straw, Sugarcane Bagasse, Corn Stover), By Product (Kraft Lignin, Lignosulphonates, Organosolv Lignin), By Application (Aromatics, Macromolecules), By Downstream Potential & Forecast, 2024-2032

  • Report ID: GMI181
  • Published Date: Jan 2023
  • Report Format: PDF

Lignin Market Size

Lignin Market was valued at USD 836.8 million in 2023 and is projected to record a 6% CAGR from 2024 to 2032. Increasing investments in the development of lignin-based carbon fibers (LCFs) to drive market growth.


Lignin Market

Increasing investments in the development of lignin-based carbon fibers (LCFs) would incite market progress. The use of lignin has intensified in the development of 3D printing material. It is added to carbon fiber (CF) to improve the mechanical properties and thermal stability of the printing material. Researchers in North America are harnessing carbon present in coal to develop products like carbon fiber, graphene, and more that are used in additive manufacturing.

High strength and rigidity of continuous carbon fibers compared to other metallic materials would augment its use in 3D printing. The use of carbon fibers in 3D printing also allows for high accuracy in the manufacturing of parts for various end-use industries such as automotive, aerospace, and dental. Advancements in 3D printing technology is expected to elevate the application scope of lignin in carbon fiber manufacturing process over the forecast period.

A lack of consumer awareness regarding the use and benefits of lignin may restrict lignin market growth to some extent. There is an absence of new initiatives by government regulatory bodies to promote the use of lignin products. Consumers are unaware of the various benefits that lignin holds like its UV resistance properties that enable its use in a wide variety of materials for UV protection applications. Low awareness and weak research into the manufacturing of lignin for different applications could impact industry expansion.

Lignin Market Analysis

Lignin Market Size, By Raw Material, 2022 & 2032 (USD Million)

Lignin market size from the hardwood raw material segment is estimated to be worth over USD 285 million by 2032. Hardwood lignin contains a high concentration of S-lignin units and is mostly preferred for its low molecular weight and other properties. The growing use of hardwood lignin in cosmetic products and efforts to reduce the environmental impact of the cosmetics sector.

Companies in the cosmetics sector are focusing on improving transparency and sustainability of the full value-chain by shifting away from petrochemicals. For instance, in January 2023, Lignovations, a company that develops natural functional ingredients from lignin, developed LignoGuard, a multifunctional ingredient made from raw material sawdust, woodchips, and low-quality hardwood that helps reduce the amount of mineral and synthetic UV filters required for photoprotection. It can also be used as an emulsion stabilizer and natural antioxidant and is appropriate for sensitive skin.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of lignin was worth USD 836.8 million in 2023 and is projected to record a 6% CAGR from 2024 to 2032.

Low-purity lignin segment is estimated to record a 6% CAGR between 2023 to 2032 owing to high preference for biomass consumption & favorable regulations in the U.S.

Asia Pacific lignin market is forecasted to be valued at over USD 60 million by 2032 due to increasing requirement for bio-based materials across various end-user industries.

Stora Enso Oyj, Sumitomo Bakelite Co., Ltd, Borregaard LignoTech, Rayonier Advanced Materials, Domsjo Fabriker AB (Aditya Birla), and Domtar Corporation are some of the leading manufactures of lignin.

Lignin Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 22
  • Tables & Figures: 326
  • Countries covered: 22
  • Pages: 323
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