Lignosulfonate Market Size | Share | Growth Analysis 2023

According to Precision Business Insights (PBI), latest report lignosulfonate market was valued at USD 1,368.1 million in 2022 and is expected to grow at 3.8% CAGR during the forecast period 2023 to 2029. The rising use of lignosulfonates in sunscreen, bio-pesticides, ensilage, and flame retardants in developed and developing countries are major drivers propelling the lignosulfonate market. Furthermore, its potential application in water treatment to inhibit corrosion of the water system, as a dispersant and integrator to control suspended solids and iron scale in the water body are anticipated to fuel the growth of the market. Moreover, the increasing construction activities, huge investments by the government for the country's infrastructure, and increasing awareness towards renewable and sustainable products have positively impacted the market growth over the forecast period.

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The lignosulfonate market is segmented based on the product, application and geography.

Based on the product, the market is segmented into the following:
• Sodium Lignosulfonate
• Calcium Lignosulfonate
• Magnesium Lignosulfonate
• Others

Based on the application, the market is segmented into the following:
• Oil Well Additives
• Concrete Additives
• Animal Feed Binders
• Dispersant
• Dust Control

Based on Geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

Based on the products, sodium lignosulfonate is anticipated to show a significant growth rate over the forecasting period. They are used as a defoaming agent in paper production and as adhesives for food contact goods. It is highly utilized in concrete admixtures, as a binder for coke, industrial metal powder, feed additives, and other applications. Apart from this, it is also used in the formulation of oil drilling pulp to help manage to drill mud mobility by reducing mud viscosity and shear force. Among these, the Construction industry is the leading segment and accounted for around 40% of the share of total Sodium Lignosulphonate demand in 2021. As a result of this, the demand for lignosulfonate is predicted to rise, leading to market expansion.

Europe Leads Lignosulfonate Market:
The Lignosulfonate market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Europe accounted to have a significant share in the lignosulfonate market and the market is expected to grow at a significant CAGR over the forecast years owing to the increased consumption of lignin sulfonate products such as ceramics, oil and gas, and in the construction sector particularly in France and Germany. The region is one of the major importers of lignosulfonates and has various lignin manufacturers like Chempolis, Saint-Gobain Finland, Domsjo Fabriker, Sappi, and Burgo Group which hold significant market shares. The Asia Pacific is estimated to account for a significant share of the market, owing to the rapidly increasing population and the high growth in both the commercial and residential construction sectors coupled with growing demand for animal feed additives. India and China accounting for the highest number of cattle are the largest consumers of lignosulfonates feed additives.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players

Lignosulfonates market further reveals that the key players increasingly adopting strategies such as the launch of newer products, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance,

In February 2023, Borregaard partnered with Hawkins, Inc., on the licensed production and distribution of its Soft Acid and lignosulfonate products in North America.

In October 2020, Borregaard and Sappi Group, who are the owners of Lignotech South Africa, decided to discontinue lignin production in South Africa.

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Key players' profiles in the Lignosulfonate Market report are Borregaard, Sappi Limited, Rayonier Advanced Materials, Nippon Paper Industries Co., Ltd, Ingevity, Burgo Group, Dallas Group of America, Inc, Green Agrochem, Tokyo Chemical Industry, Tianjin Yeats Additive Co., Ltd., Shenyang Xingzhenghe Chemical Co., Ltd, Cardinal Chemicals Pvt Ltd, Abelin Polymers, Henan Yulin Chemical Co., Ltd.

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