A report by ARC estimated that the lignin market will surpass $907.1 million by 2026, representing an average annual growth rate of 2 percent from 2019 to 2026. The report provides analysis of global lignin market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.
Growing market for aromatic derivatives, such as nylon and styrene rubber, is anticipated to spur demand for BTX and phenol resins in the automotive and building sectors. As a consequence, lignin is anticipated to be widely used as a raw material for the manufacturing of aromatics over the forecast period. Strict laws on the manufacturing of polymers to reduce greenhouse gas (GHG) pollution, combined with changes in crude oil prices, concern variables for chemical producers. As a consequence, chemical companies focus on decreasing dependence on crude oil or petrochemical as a raw material for polymers. Regulatory inclination to reduce GHG emissions has forced polymer producers to boost spending on natural-derived raw materials. Lignin is anticipated to be used as an intermediate to produce vanillin, phenol, BTX and phenolic resins.
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The worldwide lignin industry is evolving at a good pace, with a favorable development rate anticipated in the near future. The implementation industry growth and the elevated pace of industrialization and urbanization are projected to promote lignin industry growth in the coming years. Market main players are probable to target emerging countries worldwide as they give prospective development possibilities. Furthermore, the growing amount of partnerships and strategic collaborations is anticipated to boost market growth in the coming years. Concrete admixtures improve workability, compressive strength, durability, and chemical resistance while decreasing concrete water.
They provide advantages such as efficient concrete positioning in extreme weather conditions, decreased permeability, corrosion resistance, enhanced concrete positioning underwater, etc. Thus, admixture consumption is growing in building sectors globally. These concrete admixtures are of distinct kinds, including lignosulfonates based on lignin, and give advantages such as enhanced quality and concrete resistance, decreased damage induced by acid rain and humidity, decreased concrete shrinkage, and enhanced ultimate strength, among others.
The growing use of lignin in binders, adhesives and concrete admixtures is regarded to be the main variable anticipated to boost worldwide lignin industry development in the coming years. Increasing R&D operations and enhancing manufacturing processes are further projected to promote industry growth in the near future. In fact, the increasing amount of pollution arising in demand for lignin for dust control devices is another important element accelerating market growth over the coming years. On the flip side, consumer awareness of the negative impact of lignin production on human health and the environment is estimated to curtail global market growth in coming years.
Nevertheless, technology enhancement and the introduction of fresh manufacturing process systems are probable to guarantee market growth in the coming years. Lignosulphonates, low purity and Kraft products are widely used in the manufacturing, agrochemical, building and oil & gas sectors as they ban insect and pest attacks, provide elevated mechanical efficiency and provide a bio-based alternative for petroleum goods. Growing significance of biofuels due to a large decrease in conventional petroleum assets and rising R&D infrastructure in business manufacturing should fuel consumer requirement. Integration across the value chain enables them to retain a constant supply of raw materials, lowering manufacturing costs. Technological innovation combined with process development for non-sulfated lignin manufacturing is probable to play a crucial part in sector growth.
In addition, broad implementation in vanillin, high-value aromatic compounds (BTX), carbon fiber, and phenols will increase consumer requirement. Increasing value chain incorporation from raw material to item manufacturing is anticipated to present an obstacle to fresh entrants’ admission. New businesses also experience difficulties owing to the need to preserve agricultural plantations. Product development and technology innovation, combined with legislative assistance, are anticipated to reduce entry barriers. The sector is extremely competitive, marked by countless worldwide and regional businesses. Market respondents focus on R&D operations to enhance the production method and return.
In past years, North America retained a significant portion of the worldwide lignin business and will proceed to guide the industry in the coming years. Players’ presence is anticipated to promote business growth in the near future. Europe expects steady growth in the lignin industry. On the contrary, Asia Pacific is expected to give profitable possibilities to market players due to increasing lignin supply from emerging countries. The elevated pace of industrialization is expected to guarantee lignin industry growth in the coming years. Latin America’s lignin industry is also anticipated to see favorable development in the coming years.
Key Players & Strategies
Some vital players in the Lignin market includes Borregaard LignoTech, Domtar Corporation, Domsjö Tembec, Inc., Fabriker AB, and MeadWestvaco Corporation.
Market, by Product
- Organosolv Lignin
- Kraft Lignin
Market, by Application
Market, by Geography
- North America.
- Latin America
- Middle East and Africa (MEA)
The market research study on “Lignin Market Size, Share & Trends Analysis Report by Product, Application, By Region – Global Industry Size, Share, Trends and Forecast 2019 – 2026” offers detailed insights on global lignin market segments with market dynamics and their impact. The report also covers basic technology development policies.
The study provides a extensive industry assessment. This is done through in-depth qualitative observations, historical information and verifiable business size estimates. The predictions in the study were obtained from well-established study methodologies and expectations. This study document acts as an assessment and data resource for every aspect of the industry including, but not restricted to, regional economies, technology, kinds and apps.
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