Pune, India, June 22, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Lignin Market Share Report, Size, Development, Growth Strategy, Industry Trends and Forecast to 2028- COVID-19 Impact and Global Analysis – by Type, Form, Application, and Geography,” The market is expected to grow from US$ 500.73 Mn in 2022 to US$ 684.68 Mn by 2028; it is estimated to grow at a CAGR of 5.4% from 2022 to 2028.
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Lignin Market Report Scope, Segmentations, Regional & Country Scope:
| Report Coverage | Details |
| Market Size Value in | USD 500.73 million in 2022 |
| Market Size Value by | USD 684.68 million by 2028 |
| Growth rate | CAGR of 5.4% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 191 |
| No. of Tables | 115 |
| No. of Charts & Figures | 115 |
| Historical data available | Yes |
| Segments covered | Type, Form, and Application |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Companies Covered | Nippon Paper Industries Co Ltd, Borregaard ASA, Burgo Group SpA, Domsjo Fabriker AB, Sappi Ltd, Stora Enso Oyj, Suzano SA, The Dallas Group of America Inc, Tokyo Chemical Industry Co Ltd, West Fraser Timber Co Ltd, Tembec Inc, Domtar Corporation, and LignoTech Florida LLC |
Browse key market insights spread across 191 pages with 115 list of tables & 115 list of figures from the report, "Lignin Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type (Lignosulfonates, Kraft Lignin, High Purity Lignin, and Others), Form (Solid and Liquid), and Application (Concrete Additives, Plastics and Polymers, Bitumen, Water Treatment, Dyes and Pigments, Activated Carbon, Carbon Fiber, and Others)" in detail along with the table of contents: https://www.theinsightpartners.com/reports/lignin-market/
Global Lignin Market: Competitive Landscape and Key Developments
Nippon Paper Industries Co Ltd, Borregaard ASA, Burgo Group SpA, Domsjo Fabriker AB, Sappi Ltd, Stora Enso Oyj, Suzano SA, The Dallas Group of America Inc, Tokyo Chemical Industry Co Ltd, West Fraser Timber Co Ltd, Tembec Inc, Domtar Corporation, and LignoTech Florida LLC are among the major players operating in the global Lignin market. Players operating in the global Lignin market are constantly focusing on strategies such as investments in research and development activities.
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Lignin is the major by-product obtained from the pulp & paper industry. The by-product obtained from the pulp & paper and bioethanol industries is processed into sulfur-lignin or sulfur-free lignin. Lignin has a wide range of applications in several industries such as construction, water treatment, chemicals, and plastics & polymers. It is used as a dispersant, grinding agent, set retarder, cement admixture, soil enhancer, and modifier, among others. Major market players provide lignin in various forms such as dry powder and wet powder. Lignin is a cost-efficient and sustainable alternative to various fossil-based products, and thus has high demand as a replacement product for fossil-based raw materials.
Lignin Market: Segmental Overview
Based on type, the lignin market is segmented into lignosulfonates, kraft lignin, high purity lignin, and others. In 2021, the lignosulfonates segment dominated the market. Furthermore, the high purity lignin segment is expected to register the highest CAGR during the forecast period. The lignosulfonates have various physiochemical properties, including solubility in different solvents, conformation and shape in aqueous solution, self-association and agglomeration in aqueous solution, precipitation, and absorption at the surface and interfaces. Owing to these properties, lignosulfonates are used in a broad range of industrial applications, including building and construction, water reduction, soil stabilization, ceramic application, and pellet binding, among others.
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The lignin market is segmented into five main regions—North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. In 2021, Europe dominated the global lignin market. The Europe lignin market growth is attributed to the growing implementation of climate plans by the European Union. Graphitic carbon, a strictly layered material that can have slow charging times, is used in manufacturing batteries. Moreover, the construction industry is a major industry in Europe as it contributed significantly to the GDPs of many European countries, including Germany, the UK, and Italy. The admixture of biopolymers, particularly lignin, led to cement composites characterized by more remarkable plasticity; hence, alumina-lignin is the most preferred and suitable material for application as a cement mortar admixture in the construction sector. Therefore, the growing utilization of lignin in the automotive, energy, construction, and other end-use industries is expected to propel the lignin market in Europe.
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Impact of COVID-19 Pandemic on Lignin Market
The onset of the COVID-19 pandemic led to the imposition of a domestic lockdown across several countries across the globe, leading to an immediate decline in the economy, a slowdown in the global demand for trade, expansion strategies, and disruptions in the supply chain. Subsequently, these factors hampered the manufacturing, delivery schedules, and sales of various goods. The pulp & paper industry announced a slowdown of manufacturing operations and shutdown and projected a slump in the sales of lignin. In addition, trade restrictions imposed by countries in Europe, Asia Pacific, and North America disrupted the supply chain. All these factors hampered the progress of the chemicals & materials industry. The temporary shortage of manpower and sales caused due to lockdowns and government restrictions, further negatively affected the market. Thus, major companies in the lignin market faced the hardest hit during the initial phase of the pandemic due to sudden government restrictions on the manufacturing of non-essential commodities.
In 2021, the global marketplace began recovering from the losses incurred in 2020 as governments of different countries announced relaxation in social restrictions. Manufacturers were permitted to operate at full capacities, which helped them overcome the demand-supply gap. Moreover, rising vaccination rates contributed to improvements in the overall conditions in different countries, which led to conducive environments for industrial and commercial progress. With economies reviving their operations, the demand for lignin started rising globally as the construction, plastics & polymers, and chemicals industry resumed their operations at full capacity.
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