Lignin Market size is anticipated to grow on account of its increasing demand in manufacturing a host of applications including animal feed, dust control and concrete admixtures. In addition, it is also used in manufacturing dispersants and binders & adhesives.
Asia Pacific to witness the fastest growth rate over 2015-2022 Lignin, the second most abundant polymer after cellulose, has expanded its global market share and is forecast to exceed a revenue of USD 6.2 billion by 2022, according to Global Market Insights, Inc. Lignin comes in the category of organic polymer, finding wide set of applications in manufacturing of adhesives, binders, dispersants, etc.
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The rising demand for lignin in animal feeds, dust control, and concrete admixtures is also enhancing its business space globally. Moreover, the growing trend of its use over petroleum in certain applications is further expected to cater huge growth potential for the market worldwide. The growing demand for lignin can also be attributed to its downstream potential of being used as a raw material in a variety of applications. Vanillin and Carbon Fibers are two significant growth prospects pertaining to the downstream potential of Lignin.
“Global lignin market size is forecast to exceed 17.4 million tons by 2022, at a CAGR of 5% over 2015-2022” . The Europe Lignin market led the global landscape having had a market worth of USD 1.6 billion in 2014. The region will witness huge growth potential over the coming years owing to the favorable regulatory norms and inclination towards green technology across this region. Europe market is likely to register a CAGR of 4.9% from 2015-2022.
The report, “ Lignin Market Size By Product (Kraft Lignin, Organosolv, Ligno-sulphonates, High Purity) By Application (Aromatics, Macromolecules), Industry Analysis Report, Regional Outlook, Lignin Downstream Potential (Vanillin, Carbon Fiber, Phenol, BTX), Price Trend, Competitive Market Share & Forecast, 2015 – 2022” in detail along with the table of contents, please click on the link below:
https://www.gminsights.com/industry-analysis/lignin-market-report
The Asia Pacific lignin market is estimated to witness the fastest growth rate over the coming seven years. The growth will primarily be driven by fast paced industrialization coupled with growth in automobile and electronics industries across this region. Moreover, low-cost labor availability and abundance of raw materials will also fuel the regional growth. India and China will be the major revenue driver for the APAC market.
The market players are focusing towards adopting new technologies to ensure optimal production in terms of cost and efficiency. Key industry participants are Borregaard LignoTech, Green Value, Asian Lignin Manufacturing Pvt. Ltd, Domtar, and MeadWestvaco (MWV).
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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