Lignin Market Analysis by Global Segments, Growth, Size and Forecast 2023

Global Lignin Market: Snapshot

The global lignin market is prophesied to draw a large number of end users due to various applications and key properties of the plant-derived polymer. The three typical usages of lignin, the second most abundant biological material after cellulose, could be as an additive, a dispersant, and a binder. Such valuable functional properties are expected to be significant for opening up a diverse range of niche applications. This could be a chief factor increasing the demand in the global lignin market.

The CAGR anticipated for the global lignin market is 2.7% for the forecast period 2015–2023. By the concluding forecast year, the global lignin market could earn a valuation of US$985.5 mn.

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Lignosulfonates Convert Construction and Building Growth into Rich Profit

The world lignin market could see a classification based on product where lignosulfonates and kraft lignin are sulfur bearing lignins and other lignins such as organosolv are sulfur free. It is important to note that sulfur bearing lignins are commercialized whereas sulfur-free lignins are not because of lack of industrial processes. The support from the advancing construction and building sector in terms of demand is envisaged to help lignosulfonates account for a colossal share in the world lignin market.

Nevertheless, kraft lignin could look to gain a growing share in the world lignin market owing to an elevating demand for dye stuff in the textile and paints and coatings sectors. The world lignin market could also be benefited by the swelling application of kraft lignin as an insecticide. Organosolv and other products could expand their shares progressively in the world lignin market.

In the construction sector, lignosulfonates could be engaged as a concrete additive in view of their superior absorption properties alongside zeta potential to cement particles. Animal feed is envisioned to attract a 15.0% share in the world lignin market by 2023. Kraft lignin could find applications such as insecticide and dye stuff in the world lignin market due to its different chemical properties as compared to lignosulfonates. The emulsifying properties of lignin are forecasted to increase its application in the manufacture of personal care and cosmetic products.

Industrial Development Aids Asia Pacific Showcase Brisk Growth

The international lignin market is prognosticated to rake in a fetching growth on the back of influential emerging regions such as Asia Pacific. During the course of the forecast period, the Asia Pacific lignin market could grow at a faster rate on account of a rising demand birthed from the industrial expansion in the region. Followed by Latin America, Asia Pacific is predicted to provide a strong impetus to the international lignin market, helping it to boost growth from time to time. The analysts foresee Latin America to grow at a 3.5% CAGR until the final forecast year.

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However, North America had secured a larger share in the international lignin market, followed by Europe. In comparison with other regions of the international lignin market, Europe is foretold to entertain increasing labor and production costs. As a result, the region could lose its share in the international lignin market by the end of the forecast period. The Middle East and Africa region is also projected to foster a decent demand in the international lignin market.

The worldwide lignin market could hold a highly concentrated nature with five leading participants securing an over 85.0% share in the past. Domsjö Fabriker AB, Domtar Corporation, Tembec, Inc., MeadWestvaco Corporation, and Borregaard LignoTech are some of the top companies that could look to outspread their presence in the worldwide lignin market.

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