Global Lignin Market Size By Product Type (Low Purity Lignin, Lignosulphonates, Kraft Lignin), By Application (Macromolecules, Aromatics), By Geographic Scope And Forecast
Report ID: 248692|No. of Pages: 202
Global Lignin Market Size By Product Type (Low Purity Lignin, Lignosulphonates, Kraft Lignin), By Application (Macromolecules, Aromatics), By Geographic Scope And Forecast
Lignin Market Size And Forecast
Lignin Market size is growing at a moderate pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2022 to 2030.
The rising demand for lignin in animal feed and natural products is expected to fuel growth. The product is widely used in the manufacture of macromolecules used in the production of bitumen, biofuels, and bio-refinery catalysts and this factor is likely to rise the market growth. Growing demand for concrete admixtures, adhesives, and binders, combined with increased infrastructure development investments, is expected to drive market growth. The Global Lignin Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
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Global Lignin Market Definition
Lignin is a natural organic substance produced by certain woody plants such as bushes and trees, and similar algal species such as seaweed and red algae. It acts as a natural binder in plant cellulose fibers, increasing the strength and stiffness of the cell wall. Lignin has a good number of benefits, including disease prevention, antioxidants, sustainability, and widespread availability, all of which will contribute to market growth.
Recent technological advances have resulted in an increase in the use of lignin in the production of fertilizers, adhesives, dyes, and polymers. There has been a significant shift in the perception of lignin from a waste product to a valuable raw material in the electrochemical, polymer, and medical sectors. Lignin’s low cost, abundance, and biocompatibility have made it popular.
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Global Lignin Market Overview
Carbon fiber and polyurethane foam demand from the automotive and other manufacturing industries is expected to drive market growth. Lignin Market growth is being driven by rising demand for polyurethane foams from end-user industries such as electronics, furniture, automotive, and packaging. Growing demand for this polymer from the pulp and paper industry is expected to support Lignin Market growth. The inclusion of lignin in animal feed is thought to impair nutrient digestibility in animals.
Furthermore, it impedes digestion by acting as an impediment to enzymes. This factor is expected to stifle the growth of the Lignin Market. Carbon fiber demand is being driven by the aerospace industry’s increasing demand for lightweight products. This is due to the growing demand for high-performance, fuel-efficient aircraft. Increased investment in the aircraft industry, combined with the growing adoption of durable and advanced materials for aircraft components, is expected to provide significant growth opportunities to the market. This is expected to boost Lignin Market growth.
In addition, increasing the use of naturally derived raw materials in the production of polymers is expected to open up new market opportunities. Lignin is used in the production of phenolic resins, BTX, vanillin, and phenol. Moreover, the expansion of the chemical industry, combined with growing awareness about greenhouse gas emissions, is propelling the market growth of lignin. Lack of awareness about the benefits and application of the product, combined with the government’s minimal regulatory initiatives, is expected to stymie the growth of the Lignin Market and is expected to drive the market even further.
Global Lignin Market Segmentation Analysis
The Global Lignin Market is Segmented on the basis of Product Type, Application, and Geography.
Lignin Market, By Product Type
- Low Purity Lignin
- Lignosulphonates
- Kraft Lignin
- Others
Based on Product Type, the market is segmented into low purity lignin, lignosulphonates, kraft lignin, and others. The largest product segment in the Lignin Market is expected to be lignosulfonate, and its dominance is expected to continue throughout the forecast period. Increased application of concrete mixtures due to improvements in the construction sector is expected to fuel demand for lignosulfonates, supporting the product segment’s growth and increasing the market growth of the Lignin Market globally.
Lignin Market, By Application
- Macromolecules
- Aromatics
- Others
Based on Application, the market is segmented into macromolecules, aromatics, and Others. The application of macromolecules is expected to be the largest product segment in the Lignin Market. Carbon fibers’ increasing use as lightweight materials in the automotive and construction industries will increase the importance of macromolecules. Carbon fibers, carbon, bitumen, bio-refinery catalysts, biofuels, and activated carbon are all made from macromolecules. Carbon fibers are becoming increasingly popular as lightweight materials in the aerospace and automotive industries. Furthermore, rising demand for lightweight vehicles due to improved performance and durability is expected to drive product demand, which is driving the market growth increasing the Lignin Market globally.
Lignin Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the world
Based on Geography, the Global Lignin Market is organized into North America, Europe, Asia Pacific, and the Rest of the world, The Asia Pacific region is expected to be the largest product segment in the Lignin Market. Rising trends in the manufacturing of bio-based products are expected to drive regional demand in the coming years. Leading regional market players are producing pulp and paper products, which is expected to increase lignin production, thereby it will increase the demand for the Lignin Market.
Key Players
The “Global Lignin Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Borregaard LignoTech, Domtar Corporation, Aditya Birla Group, Liquid Lignin Company LLC, Nippon Paper Industries Co., Ltd., Metsa Group, Sappi Ltd, Stora Enso, Ingevity, and Tembec Inc.
Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
Key Developments
- In November 2021, The Paper Excellence Group, a global diversified manufacturer of pulp and specialty, printing, writing, and packaging papers, announced that its previously announced acquisition of Domtar was completed successfully.
- In Jan 2022, The Aditya Birla Group signed a binding term sheet agreement to acquire a 51 percent stake in ‘House of Masaba Lifestyle Pvt Ltd,’ bolstering its presence in fashion for young and digitally native consumers.
- In May 2020, The acquisition, which will take place in May 2020, follows eight years of continued investment by Ingevity in the commercialization of ANG technology and is intended to streamline and accelerate its adoption. Ingevity will take direct responsibility for collaborating with key stakeholders already involved in the ANG market and product development.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2018-2030 |
| BASE YEAR | 2021 |
| FORECAST PERIOD | 2022-2030 |
| HISTORICAL PERIOD | 2018-2020 |
| KEY COMPANIES PROFILED | Borregaard LignoTech, Domtar Corporation, Aditya Birla Group, Liquid Lignin Company LLC, Nippon Paper Industries Co., Ltd., Metsa Group, Sappi Ltd. |
| SEGMENTS COVERED |
|
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
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Data Collection Matrix
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Industry Analysis Matrix
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