A natural resource with huge potential of Lignin Market 2028

The global Lignin market was accounted for US$ 872.2 Mn in terms of value and by the end of 2019 and is expected to grow at a CAGR of 2.7% during the forecast period.

Key companies covered as a part of this study includes Borregaard LignoTech, Changzhou Shanfeng, Chemical Industry Co., Ltd., Domsjo Fabriker AB, Domtar Corporation, MeadWestvaco Corporation, Nippon Paper Industries Co., Ltd., Tembec, Inc., UPM Kymmene Corporation.

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Market Opportunities
Lignin is gaining popularity as a potential substitute for crude oil which is again boosting its demand across various applications. This is projected to offer potential opportunities over the forecast period. Moreover, increasing use of low-purity grade lignin as a catalyst in the biorefineries is also escalating the market growth of the lignin. Furthermore, the easy availability of raw materials and low-cost production is further augmenting the market growth.

Market Trends

The lignin market is gaining tremendous growth from the vanillin application. This product is widely used in the food & beverages, pharmaceutical, and animal feed application as a flavor. The growing trend of using vanillin across the aforementioned industries is expected to foster the market growth. The growing demand for dust controllers to control air pollution is also propelling market growth. Lignosulphonates is widely used in the production of dust controllers.
Detailed Segmentation:

Global Lignin Market, By Product:
Lignosulfonates
Kraft Lignin
Others
Global Lignin Market, By Application:
Concrete Additives
Animal Feed
Dye Stuff
Others

Global Lignin Market - Impact of Coronavirus (Covid-19) Pandemic

The sudden occurrence of the novel coronavirus has a major impact on the global lignin market owing to increased demand for the product across various end use industries such as, animal feed, dye stuff, concrete additives among others.

Increasing demand for carbon fibers and polyurethane foams from automotive and other manufacturing industries is expected to propel the market growth. High demand for polyurethane foams from end-user industries such as electronic, furniture, automotive, and the packaging is accelerating the market growth of lignin. Growing demand for this polymer from the pulp & paper industry is again expected to bolster the market growth of the lignin.

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