Lignin Market In-Depth Progress Research 2021-2031 | Key Players- UPM-Kymmene Corporation, Borregaard LignoTech, etc

Lignin Market: Dynamics

Lignin is the principal by-product from lignocellosic bio-refineries and a valuable renewable resource for the chemical industry. Lignin, a component of plants, has great potential in terms of conversion into value-added products that can significantly improve the economics of a bio-refinery. Increasing demand for lignin as an organic additive is expected to drive the global lignin market during the forecast period.

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Lignin and its products find significant usage in concrete additives in the form of dyestuff, dust suppressants, and others. It is used as binder for glass wool building insulation. It improves the performance of asphalt dyestuff. The expansion of sectors such as agriculture, animal feed, and concrete is fueling the market. The presence of a wide range of animal feed is also driving the market. Growth in industrial cleaners, industrial dyestuff, battery, and water treatment applications is boosting the sales of lignin. Constant rise in awareness about air pollution, respiratory disorders, and organic materials is directly impacting the lignin market.

The rising trend of using lignin as fuel for burning to use it in multiple applications such as dispersants, dyestuff, and animal feed is anticipated to augment the market over the next few years. On a macro-level, factors such as increasing construction expenditure and rising demand for automobiles, electronics, and equipment manufacturing are expected to support the demand for lignin.

The concrete additive application segment is expected to expand considerably during the forecast period. Thus, rise in production of concrete additives is projected to boost the demand for lignin during the forecast period.

Manufacturers are focusing on concrete additive, as the share held by this segment in the lignin market is likely to increase during the forecast period.

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 Lignin Market: Prominent Regions

Asia Pacific holds major share of the global lignin market. The market in the region is anticipated to expand at a CAGR of more than 5.7% during the forecast period. Increase in demand for lignin in various applications such as dyestuff, animal feed, and concrete additives is driving the lignin market in Asia Pacific. China is a key country of the lignin market in Asia Pacific. It held significant share of the lignin market in Asia Pacific in 2020. The country is estimated to maintain its dominant position in the region during the forecast period.

Europe is also a prominent region of the global lignin market. Germany led the lignin market in Europe in 2020. Increase in demand for lignin in building & construction and steel industries is driving the market in Germany.

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 Lignin Market: Major Players

The global lignin market is consolidated with the presence of key players. Prominent players operating in the global lignin market include Domsjö Fabriker AB, Nippon Paper Industries Co., Ltd., Changzhou Shanfeng Chemical Industry Co., Ltd., MeadWestvaco Corporation, UPM-Kymmene Corporation, Borregaard LignoTech, Tembec, Inc., and Domtar Corporation.

Global Lignin Market: Segmentation

Lignin Market, by Product

Lignosulfonates

Kraft Lignin

Organosolv

Lignin Market, by Application

Concrete Additive

Animal Feed

Dye Stuff

Cosmetics

Absorbents

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Lignin Market: Overview

Lignin is the substance that gives plants their 'woody' structure. The global lignin market is driven by diverse applications of lignin across several industries such as cement/concrete, paper, cosmetics, metallurgy, and animal feed.

Lignin is a by-product of paper industry, also used in aromatic alcohol dispersant and animal nutritional food etc. Lignin is the second most used and bulky plant derived polymer in this entire world used as dispersant, additive and binder.

According to Transparency Market Research's latest research report on the lignin market for the forecast period 2021 to 2031, rise in usage of lignin in concrete additive is a key factor that is expected to boost the global lignin market during the forecast period

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