Lignin Market size to exceed $1 billion by 2026
Published Date: November 6, 2020 Authors: Kunal Ahuja, Kritika Mamtani
Global Lignin Market size is set to surpass USD 1 billion by 2026, according to a new research report by Global Market Insights, Inc.
Increasing regulations for controlling the level of dust emissions in different countries of the world is likely to promote market growth. Excellent binding properties of lignin provide improved stability to road surfaces, thus increasing the product demand and dust control applications. The increasing need for a sustainable source to produce biofuels is expected to boost lignin industry outlook.
Rising demand for biobased products coupled with high absorbency rate and zeta potential to raise the demand for lignosulphonates
The high absorbency rate and zeta potential of lignosulphonates is likely to offer potential applications to lignosulphonates in cement production in the coming years. Increasing application of lignosulphonates as a dispersing agent in pesticides, dyes and carbon black may raise product demand from agriculture, food, textile and automotive industries. Increasing use of lignosulphonates in tanning leather and dust suppressors is likely to boost lignin market trends.
Lignosulfonates are also used for the production of plasterboard to reduce the amount of water required to make the stucco flow and form the layer between two sheets of paper. Increasing volumes of pulp and paper globally may raise product demand. The property of lignosulphonates to act as a sequestering agent by trapping metal ions facilitates its use in soil conditioning applications. The rising demand for sulfur-free and biobased products may escalate market growth. Global lignin market from lignosulphonates product is expected to reach over USD 110 Million by 2026 growing at a CAGR of 5.9% over the forecast period.
Browse key industry insights spread across 200 pages with 164 market data tables and 42 figures & charts from the report, “Lignin Market Statistics By Product (Kraft Lignin, Lignosulphonates, Low Purity Lignin), Application (Aromatics, Macromolecules), Industry Analysis Report, Regional Outlook, Lignin Downstream Potential (Vanillin, Carbon Fiber, Phenol, BTX) Industry Analysis Report, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Stringent regulations for use of ecofriendly products in wastewater treatment coupled with the increasing demand for carbon fiber from construction and automotive industries to promote the use of macromolecular lignin
The increasing application of macromolecular lignin in production of carbon fiber which has demanding applications in automotive and aerospace industries may propel market statistics. Furthermore, the reinforcement of macromolecular lignin in cement admixtures for strengthening building structures in earthquake prone areas is likely to fuel industry landscape.
Use of lignin in production pf activated carbon may increase in the coming years. Increasing demand for activated carbon from wastewater treatment application in manufacturing sector to control water pollution is expected to raise product demand. In addition, stringent regulations for the use of eco-friendly products in wastewater treatment is expected to fuel business landscape. Global lignin market from macromolecule application exceeded USD 345 Million in 2019 and is expected to grow at a rate of 5.4% over the assessment period.
Increasing application of phenol in pharmaceutical sector to encourage the use of lignin in phenol manufacturing
The increasing applications of phenol in drug manufacturing is expected to raise product demand in phenol manufacturing. Application of phenol in manufacturing oral anesthetic products such as Chloraseptic to treat pharyngitis may boost product demand. Some phenolic compounds such as epigallocatechin-3 gallate are cancer chemo preventive. Increasing health consciousness among consumers propels them to consume phenolic compounds, which is in turn expected to raise product demand. Lignin market through phenol downstream potential is expected to reach over USD 18.5 Billion by 2026 growing at a CAGR of 3.6% over the forecast period.
Major players in the market are entering into joint ventures to enhance their manufacturing and technological capabilities to achieve targeted goals. Besides, players are also adopting strategies such as mergers and acquisitions to extend their client reach and improve business. Companies are investing heavily in research activities to develop products yielding a higher yield at a lower cost. Key players in the lignin market include Rayonier Advanced Materials, Stora Enso Oyj, Domtar Corporation, Borregaard LignoTech, Domsjo Fabriker AB (Aditya Birla), The Dallas Group of America, Inc.,Burgo Group Spa, Metsa Group, Changzhou Shanfeng Chemical Industry Company, Liquid Lignin Company, Nippon Paper Industries Co., Ltd., Sigma Aldrich, Suzano SA, West Fraser and Ingevity Corporation.
Increase in construction activities coupled with presence of favorable regulatory scenario to drive the growth of North America lignin market
North America lignin industry is expected to witness considerable growth during the foreseeable timeframe owing to the rapid growth of the construction industry. The increasing trend of green buildings in the U.S. may raise the demand for high-quality concrete admixtures which is expected to augment market share. Moreover, the ability of lignin reinforced concrete admixtures to offer improved durability & strength of the cured concrete, reducing formulation cost, and increase workability of concrete mix may propel market trends. Increase in consumption of low purity lignin in production of biomass and favorable regulation in the U.S. such as the Renewable Fuel Standard (RFS) program by the U.S. EPA which has mandated the production of 60 billion gallons of biofuel is expected to fuel the of the market demand in the region.
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