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Sodium Lignosulfonate Market will Register a CAGR of 4.3% through 2017 - 2025
According to TMR, the global sodium lignosulfonate market is dominated by some key players, namely Borregaard LignoTech, Sappi, Burgo Group, Tembec, and Nippon Paper Industries Co. Ltd. The report says that the global sodium lignosulfonate market is likely to expand at a steady 4.3% CAGR between 2017 and 2025, for the market to be worth US$446.14 mn by 2025-end. The market stood at a valuation of US$306.47 mn in 2016.
Among the key application segments, concrete admixture leads in the global sodium lignosulfonate market. However, in terms of growth potential, animal feed binder and oil well additives are likely to gain pace over the forecast period.
Europe is a significant market for sodium lignosulfonate, with the region holding the leading share of more than 35% vis-à-vis revenue in 2016. In the upcoming years, Asia Pacific is expected to lead in terms of growth potential followed by Middle East & Africa.
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Use as Well Additives in Oil Production Boosts Market
The global sodium lignosulfonate market is primarily driven by new construction undertakings and pursuits for renovation of old buildings. The low cost factor of sodium lignosulfonate account for its widespread use predominantly in developing countries, where demand for water-reducing chemicals is considerably high.
Besides this, factors such as infrastructure development and growing population in developing economies is also anticipated to boost the demand for sodium lignosulfonate. This is because construction industry makes use of large amount of cement for residential, commercial, and industrial construction undertakings.
The sodium lignosulfonate market also receives impetus from growth in upstream and downstream industries associated with the oil sector. In the Middle East, oil companies are making efforts to augment oil production to serve the ever-increasing demand from downstream industries. The best oil production practices involve different additives to maintain intactness of various drilling factors and improve oil extraction. Sodium or calcium lignosulfonate are some of the widely used oil well additives in oil production. Generally, lignosulfonates in purified, filtered, and modified forms are employed as oil well cement retarders. With the rise in demand for oil in downstream industries in the Middle East the demand for well additives will be on the rise. This will indirectly benefit the sodium lignosulfonate market in the Middle East.
While the sodium lignosulfonate market is likely to expand at a moderate pace in the upcoming years, the market will benefit from the lucrative growth prospects of its applications and end-use industries.
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Besides this, industrialization and urbanization in the developing economies of Asia Pacific is also stoking growth of sodium lignosulfonate market. Demand for concrete admixtures based on sodium lignosulfonate is expected to remain high in China, India, Thailand and other countries in Southeast Asia.
Availability of Substitutes Challenges Growth
However, sodium lignosulfonate faces steep competition from a number of substitutes such as sulfonated naphthalene formaldehyde, polycarboxylic ether, and sulfonated melamine formaldehyde that are challenging this market’s growth.
About Us – Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others.
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