[215+ Pages Report] According to Facts and Factors, the global lignin market was valued at USD 851.68 million in 2021 and is predicted to increase at a CAGR of 1.90% to USD 1,028.70 million by 2028. The study examines the market in terms of revenue in each of the key regions, which are classified into countries.
Lignin is a carbon based polymer that is significant in the formation of the cell wall in woods and barks owing to its rigidity and stability. One of the primary market trends is the key manufacturer's continuous product innovation. The growing trend of using lignin as a fuel for burning to use it in a variety of applications such as dispersants, binders, and adhesives is expected to boost the market growth in the forthcoming years. Other factors that are expected to enhance lignin demand include rising construction spending and escalating demand for vehicles, electronics, and equipment manufacturers. In Addition, the development of the chemical industry coupled with the rising awareness regarding greenhouse gas emissions is further driving the market growth of lignin. Increasing investment by key manufacturers in developing bio-based carbon products is a growing trend in the market over the upcoming years.
Moreover, new technologies that employ lignin as an energy source while also effectively separating woody biomass to increase the marketability of wood output are predicted to boost the market growth. It's also utilized to make liquid wood, which may be used in things like steering wheel segments, phone housings, and musical instruments, among other things, boosting the market growth. On the other hand, high costs related to the research and development abilities, construction of green buildings instead of using lignin as a chemical and a shortage of awareness in the backward economies are expected to hinder the market growth during the forecast period.
The new Coronavirus (COVID-19) has had a global influence on almost every market, including the lignin business. The supply chain for animal feed products has been impacted by the epidemic, affecting consumption and production patterns around the world. Because animals can't obtain enough nourishment from ordinary feed, feed additives are included in their regular meals. New technologies that utilize lignin as an energy source while also effectively sorting woody biomass to improve the marketability of wood output are projected to boost the market growth. It's also utilized for making liquid wood, which may be used in things like steering wheel segments, phone housings, and musical instruments, among other products, boosting the market growth.
The strong presence of manufacturers operating in the lignin market is driving the demand amid coronavirus pandemics. Top market players in the global lignin market are focusing on generating profitable avenues during the pandemic through product innovation activities. The global lignin market is likely to be driven by a rise in production and demand for concrete additives. In the future years, the global market for lignin is expected to be driven by its uses as a dye, animal feed, and concrete additive. The rising demand for lignin as an organic additive is expected to drive the global lignin market during the forecast period. Thereby, driving the overall growth of the market.
The global Lignin market is segregated based on variants, packaging, distribution channel, and region.
In terms of product, Lignosulphonates emerged as the largest product segment in the lignin market in 2021 and are estimated to maintain their dominance throughout the forecast period. Increased application of concrete mixtures in China, India, and the U.S. on account of improvement in the construction sector are anticipated to fuel demand for lignosulfonates, thereby supporting the growth of the product segment.
In terms of applications, Macromolecules hold the largest share in the market during the forecast period. Carbon fibers have grown in popularity as the demand for lightweight materials in the aerospace and automobile production industries has expanded. Moreover, increasing demand for lightweight vehicles considering better performance and durability is expected to generate the product demand.
Report Attribute |
Details |
Market Size in 2021 |
USD 851.68 Million |
Projected Market Size in 2028 |
USD 1,028.70 Million |
CAGR Growth Rate |
1.90% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2028 |
Key Market Players |
Borgward Logotech, Rayonier Advanced Materials, Domtar Corporation, Damson Fabriker AB (Aditya Birla), Stora Enso Oyj, Burgo Group Spa, Changzhou Shanfeng Chemical Industry Company, The Dallas Group of America, Inc., Liquid Lignin Company, Nippon Paper Industries Co., Ltd., Metsa Group, Suzano SA, Ingevity Corporation, Sigma Aldrich, West Fraser, and Others |
Key Segment |
By Product, Application, Downstream Potential, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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The Europe region is estimated to witness lucrative growth during the forecast period. This is majorly due to the increasing demand for lightweight motor vehicles coupled with the presence of major vehicle manufacturing facilities is expected to positively influence the regional product demand. In Europe, there are strict regulations regarding the emission of greenhouse gases, which has provided potential market opportunities for the manufacturing of bio-based polymers. Additionally, growth in aromatic applications, as well as significant R&D by major manufacturers, are projected to help the market grow.
The global lignin market is segmented as follows;
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