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Lignin Market Analysis
- Report ID: GMI181
- Published Date: Jan 2023
- Report Format: PDF
Lignin Market Analysis
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.
Lignin market share from low-purity lignin segment is estimated to record a 6% CAGR between 2023 to 2032. High preference for biomass consumption and favorable regulations in the U.S. will stimulate the demand for low-purity lignin over the forecast period. Low-purity lignin is commercially used as a catalyst in biorefinery and exhibits superior characteristics such as low molecular weight and narrow molecular weight distribution. Strong availability of this lignin at economical rates and its wide-ranging applications in biorefinery as feedstock would drive the market outlook.
Lignin market from the macromolecules application is projected to register 6% CAGR from 2023 to 2032. Macromolecules find major applications in the construction and automotive industries owing to their lightweight properties. Activated carbon is estimated to emerge as a major application for lignin which works as a natural biological macromolecule. The increasing need for wastewater treatment in the manufacturing sector to prevent water pollution would elevate product significance in the years ahead. In addition, stringent government regulations on the use of eco-friendly products in wastewater treatment are expected to fuel the demand for lignin. High Purity Lignin Market revenue is likely to hit USD 40 million by 2030.
Asia Pacific lignin market is forecast to be valued at over USD 60 million by 2032. Increasing development of bio-based materials utilized in various application industries may grow the regional market growth. Pulp & paper manufacturing and the chemical production sector are witnessing expansive growth across countries like China, India, Japan, Malaysia & Thailand. China is one of the major hubs for chemical production worldwide and the country is expanding its base to influence product demand.
Most of the product suppliers, manufacturers, and distributors in the region are initiating strategies to expand lignin use in the pulp, wood, and paper sectors. The product is mainly used in the paint, coating & textile industries and is also increasingly gaining application in pesticides. However, low awareness of lignin products could hinder product demand across the Asia Pacific.
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Lignin Market Scope
