Lignosulfonates Market to Reach US$960.2 mn by 2024, Europe Dominates Even as Growth in APAC Gathers Pace

Transparency Market Research has released a new market report titled “Lignosulfonates (Calcium Lignosulfonate, Sodium Lignosulfonate, and Magnesium Lignosulfonate) Market for Oil Well Additives, Concrete Admixture, Animal Feed Binder, Dust Control, and Other Applications – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016–2024.” According to the report, the global lignosulfonates market was valued at US$691.9 mn in 2015 and is anticipated to reach US$960.2 mn in 2024, expanding at a CAGR of 3.8% between 2016 and 2024.

Lignosulfonates are commercially sold in numerous product forms such as calcium lignosulfonate, sodium lignosulfonate, and magnesium lignosulfonate. Benefits such as cost effectiveness and eco-friendliness make these products highly suitable for usage in applications such as oil well additives, concrete admixture, animal feed binder, and dust control. Increasing demand for high-quality pellets in animal feed along with water reducing chemicals in concrete application is expected to propel the demand for lignosulfonates in animal feed binder and concrete admixtures segments, respectively, during the forecast period. Threat from application specific substitutes is anticipated to hamper the growth of the global lignosulfonates market during the forecast period. However, rising demand for lignosulfonates in oil well additives application in the Middle East is estimated to offer significant growth opportunities to the global lignosulfonates market from 2016 to 2024.

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Europe was the largest consumer of lignosulfonate in 2015. The region held more than 35% share of the global lignosulfonates market in the year primarily due to the high demand from the animal feed industry. However, growth in other downstream industries in Europe is projected to lower the dominance of the region during the forecast period.

Asia Pacific is likely to be the fastest-growing market during the forecast period due to high demand for concrete admixtures in the region. Demand for lignosulfonates in Asia Pacific is projected to increase significantly due to the rapid growth in consumption of lignosulfonates in China, India, and the ASEAN countries. Significant growth in the construction industry in these countries is likely to drive demand for lignosulfonates in Asia Pacific during forecast period.

The lignosulfonates market in Middle East & Africa is expected to witness substantial growth during the forecast period. Demand for modified lignosulfonates (superplasticizers) as water reducing chemicals in the construction industry is anticipated to fuel the demand for lignosulfonates in the region. Furthermore, high demand for lignosulfonates as oil well additives in the oil & gas industry is estimated to boost the market for lignosulfonates in OPEC countries in the near future.

The lignosulfonates market in North America is projected to experience sluggish growth due to slow but steady recovery of the region from the economic slowdown. Furthermore, factors such as availability of advanced substitutes in concrete admixture and animal feed binder segments is hampering the growth of the lignosulfonates market in the region. The lignosulfonates market in Latin America is likely to expand significantly during the forecast period primarily due to growth in the construction industry in countries such as Brazil, Argentina, and Chile.

The global lignosulfonates market is moderately consolidated. Key players in the lignosulfonates market include Borregaard LignoTech, Tembec Inc., Sappi, Flambeau River Papers, NIPPON PAPER INDUSTRIES CO., LTD., Domsjö Fabriker AB, Burgo Group Spa, Green Agrochem, Shenyang Xingzhenghe Chemical Co., Ltd., and Qingdao Newworld Material Co., Ltd.

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This release was published on openPR.