UPM-Kymmene Corporation invests in a biorefinery in Leuna, Germany, as the next transformational growth step and enters the biochemicals industry. A variety of biochemicals made entirely from wood will be produced by the biorefinery, enabling a shift from fossil raw materials to sustainable substitutes in a variety of consumer-driven end uses. The investment gives UPM access to entirely new markets with significant future growth possibilities.
The new lignin factory owned by LignoTech Florida in Fernandina Beach was formally inaugurated on June 26. A manufacturing capacity of 100,000 metric tons of dry lignin is represented by the 110 million USD investment. The capacity can eventually be increased by 50,000 tons in a second phase that is planned. The factory has been in test operation for a while and is now manufacturing lignin that can be sold.
Author Credits: Smruti Ranjan, Rajrani Baghel
Report ID: 5228
Published Date: Sep 15, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
The major factors driving the growth of the market are growing production of paper & pulp, rising use of lignin bio-oil in chemical industry, and surge in application of lignin bio-oil in aviation.
The market size of lignin bio-oil is anticipated to attain a CAGR of 5% over the forecast period, i.e., 2024 â€“ 2036.
The major players in the market are UPM-Kymmene Corporation, Borregaard ASA, Domtar Corporation, Stora Enso and others.
The automotive segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.
The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.