Lignin Market Scope By Product, Application, Region And Forecast To 2030

Author : Bella Kent | Published On : 22 Jan 2024

San Francisco, 22 Jan 2024: The Report Lignin Market Size, Share & Trend Analysis Report By Product (Lingosulfonates, Kraft Lignin, Organosolv Lignin, Others), By Application, By Region, And Segment Forecasts, 2024 - 2030

The global lignin market size is expected to reach USD 1.47 billion by 2030, registering a CAGR of 4.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. The product is widely utilized in the production of macromolecules used in the development of bitumen, biofuels, and bio-refinery catalysts. This factor is likely to support market growth. Growing demand for concrete admixtures and adhesives and binders coupled with increasing investments in infrastructure development is expected to fuel market growth.

Lignin is a complex polymer of aromatic alcohols which is derived from wood and is an integral part of the secondary cell walls of trees in the form of timber and lumber. Global timber harvest has increased by 60% over the last four decades and is anticipated to continue to grow in the near future. However, the market is likely to grow at a steady pace owing to the presence of a stringent regulatory framework in terms of deforestation.

In certain cases, lignin manufacturing companies form direct alliances and strategic partnerships with application industries. Lignin is extensively used as a precursor in the manufacture of aromatics and macromolecules. Lignin-containing aromatics and macromolecules are further used in a wide range of end-uses including dust control, animal feed, concrete admixtures, dispersants, binders, and adhesives.

Ligno-sulphonates are water-soluble polymers, majorly used as plasticizers for manufacturing cement and concrete on account of maintaining the flow ability of the mixture and as grinding aids in the mill. Other applications of ligno-sulphonates include plasterboard production, drilling fluid, carbon black, dyes, and pesticides. Concrete production growth in the U.S., China, and India in light of the improvement in domestic infrastructure is expected to increase the importance of ligno-sulphonates over the forecast period.

Companies including Domtar Corp, Asia Lignin, and Dallas procure raw materials from the above-mentioned companies to manufacture various grades of lignin. The finished products are then supplied to application industries through various distribution channels including vendors, wholesalers and distributors.

Access Research Report of Lignin Market @ https://www.grandviewresearch.com/industry-analysis/lignin-market

Lignin Market Report Highlights

• Lignosulfonates emerged as the largest product segment in the market in 2023 and is estimated to maintain its dominance over the forecast period. EPS exhibit excellent dielectric strength, and resistance to chemicals, heat, and moisture, making it a preferred material for insulation of electric component in building applications. Foamed plastics are expected to witness significant demand for building insulation applications, owing to the energy efficiency regulations imposed by various governments across the globe
• Kraft lignin growing at a CAGR of 3.3% from 2024 to 2030. The increasing importance of biofuels in Europe and North America on account of regulatory support to reduce air pollution and decreasing levels of GHG emissions is expected to fuel kraft lignin demand over the forecast period
• The robust manufacturing base of the chemical industry in Brazil and increasing domestic consumption are anticipated to force chemical manufacturers to increase expenditure on the development of raw materials such as lignin for aromatics production. Furthermore, the demand in MEA is expected to benefit from various strategic initiatives by manufacturers within the aromatics industry
• Growing automobile production in the U.S. on account of rising domestic consumption and new product launches is expected to promote demand for lightweight materials such as carbon fibers. Automobile manufacturers such as Ford Motors are deploying bio-based lightweight materials in their product offerings in order to reduce carbon footprints and provide fuel economy benefits to driving customers. As a result, favorable regulations aimed at promoting biopolymers industry in the U.S. coupled with growing domestic demand for bio-based automotive material is expected to have a positive impact on the lignin market in the near future

Lignin Market Report Scope

List of Key Players in the Lignin Market

• Stora Enso
• West Fraser
• UPM Biochemicals
• Sweetwater Energy
• Borregaard LignoTech
• Rayonier Advanced Material
• Domsjo Fabriker
• Changzhou Shanfeng Chemical Industry Co Ltd
• Domtar Corporation
• Nippon Paper Industries Co., Ltd
• Metsa Group
• The Dallas Group of America, Inc
• Liquid Lignin Company
• Burgo Group S.p.A
• Valmet Corporation

Access Press Release of Lignin Market @ https://www.grandviewresearch.com/press-release/global-lignin-market