The Global Lignin Market is expected to reach USD 913.1 million by 2025, according to a new report by Hexa Reports. The growing environmental concerns regarding air pollution and associated health hazards have been the major factors driving market growth. The growing demand for dust control in residential, commercial, and industrial sectors is expected drive growth further over the forecast period.
Increasing rate of air pollution has been a growing environmental concern on a global scale over the past few decades, affecting residential, commercial, transport, agricultural, storage and logistic sectors. In addition, air pollution has resulted in rising occurrences of respiratory illnesses as well as increasing number of accidents due to smog.
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Traditionally, calcium chloride was used to control dust on roads which proved to be expensive over the duration of time owing to its increasing demand from other end-use applications including paper and construction. Over the past few years’ the product is being increasingly used as a substitute to calcium carbonate as a dust collector.
The organosolv lignin segment is expected to witness the highest growth over the coming years, at an estimated CAGR of over 5% from 2016 to 2025. Increasing demand for manufacturing various potential products including activated carbon, carbon fiber, phenol derivatives, vanillin and phenolic resins is expected to boost organosolv lignin demand over the next nine years.
In addition, the rising R&D activities and investments related to the product in developing countries, including India and China, is expected to boost organosolv lignin demand over the forecast period. Further growing instances of smog in the country coupled with rising need to curb this environmental hazard is expected to drive demand.
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Further key findings from the report suggest:
• The global lignin market volume exceeded 1,100 kilo tons in 2015 and is expected to witness considerate growth from 2016 to 2025, mainly owing to the rising need of products for effective dust and pollution control
• Ligno-sulphonates was the largest product segment in 2015 and is estimated to generate revenues of over USD 750 million by 2025; the dominance of this product can be attributed to its rising application scope in rapidly-growing applications such as drilling fluids and pesticides
• The global demand in aromatics was recorded at over 350 kilo tons in 2015 and is expected to witness higher growth over the forecast period, growing at nearly 4% during the forecast period; this growth can be attributed to the growing demand for bio-based raw materials for aromatics manufacture, globally
• The industry in Europe dominated the overall industry demand in 2015, accounting for a volume of nearly 450 kilo tons. The industry in Asia Pacific is expected to witness highest growth during the forecast period, owing to growing trend towards the development of bio-based materials for further applications
• In 2015, Tembec accounted for over 14% of the market share. The company primarily manufactures ligno-sulphonates and markets lignin under the brand name “”ABRO Lignosulphonates””. The company is integrated across two levels of the value chain where the company is engaged in raw material supply as well as manufacturing lignin.
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Hexa Reports is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
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