According to the latest report by IMARC Group, titled "Lignin Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global lignin products market reached a value of US$ 1,019.6 Million in 2022. Lignin is an organic substance that is present in plant cells to provide rigidity and shape while protecting them from the microbial fermentation of the cell wall. It is resistant to acid hydrolysis, soluble in hot alkaline and bisulfite, and readily condensed with thiols or phenols. It can be obtained from different sources, such as crops, trees, plants, and lignocellulosic parts, with the help of physical, biochemical or chemical treatments. Usually composed of petroleum-based substances and having different compositions and chemical structures with diverse properties, it is widely used in the production of numerous eco-friendly products, including agglomerates, binders and emulsifiers, and wetting and chelating agents.
Global Lignin Products Market Trends:
The global market is primarily driven by the increasing environmental concerns among the masses. In line with this, the growing initiatives undertaken by the governments of several countries to encourage the adoption of energy-efficient measures in order to reduce carbon dioxide (CO2) emissions are providing an impetus to the uptake of lignin products. Along with this, the widespread utilization of lignin products as a preferred alternative to fossil-based materials in the manufacturing of chemicals and plastics is creating a positive market outlook. Moreover, the augmenting demand for eco-friendly variants of fertilizers and pesticides across the agriculture sector is providing a boost to the demand for lignin products across the globe. Apart from this, the rising application in the production of macromolecules that are used in the development of biofuels, bitumen and bio-refinery catalysts is acting as another major growth-inducing factor. Other factors, including rapid industrialization and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 1,217.5 Million by 2028, exhibiting a CAGR of 2.8% during 2023-2028.
- On the basis of the product, the market has been bifurcated into organosolv lignin, kraft lignin, lignosulphonates and others. Among these, lignosulphonates account for the largest market share.
- Based on the source, the market has been classified into cellulosic ethanol, kraft pulping and sulphite pulping. Presently, sulphite pulping exhibits a clear dominance in the market.
- On the basis of the application, the market has been segmented into concrete additive, animal feed, vanillin, dispersant, resins, activated carbon, carbon fibers, plastics/polymers, phenol and derivatives and others. Concrete additive currently represents the largest application segment.
- Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa. Among these, Europe holds the leading position in the market.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Aditya Birla Management Corporation Pvt. Ltd., Borregaard AS, Domtar Corporation, Green Agrochem, Ingevity Corporation, Merck KGaA, Nippon Paper Industries Co. Ltd., Rayonier Advanced Materials, Stora Enso Oyj, The Dallas Group of America Inc., West Fraser Timber Co. Ltd. and Wuhan East China Chemical Co. Ltd.
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