The global lignin market is expected to grow at a moderate CAGR over the forecast period, i.e., 2021-2029 owing to the multiple applications of lignin in animal feeds, carbon fibres, concrete mixes, and others. Lignin is highly affordable, renewable, organic in nature, aromatic, and dispersant, which is estimated to boost the market growth. Apart from this, constant R&D activities along with rising demand for lignin especially in emerging countries for their developmental projects are expected to generate significant growth opportunities for market during the forecast period. Lignin is also being developed to be used to curb water pollution. According to a report by the U.S. Environment Protection Agency, lignin can be used as an effective and low-cost absorbent for metallic water pollutants.
The global lignin market is segmented on the basis of application into macromolecules, aromatics, and others, out of which, the macromolecule segment is expected to garner largest market share during the forecast period. Macromolecules can be processed further to generate carbon fibres, bitumen, bio-refinery catalysts, biofuels, and activated carbon, which is projected to drive the segment growth.
Regionally, the global lignin market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
The market in Asia Pacific region is expected to record the highest CAGR in the lignin market during the forecast period owing to the rise in construction activity in nations, including China, India, Japan, and South Korea backed by increasing population. Additionally, increasing usage of lignin in paper and pulp industry is estimated to propel the lignin market in the region. The market in Europe is estimated to occupy notable share during the forecast period, owing to the rising production of biopolymers in France, Germany, and Netherlands. Furthermore, ascending aromatic application of lignin in aromatic alcohol, along with extensive research and development by various prominent players are expected to add to the market growth in Europe region. CLICK TO DOWNLOAD SAMPLE REPORT
The global lignin market is further classified on the basis of region as follows:
Our in-depth analysis of the global lignin market includes the following segments:
Merck KGaA (Sigma Aldrich)
FREQUENTLY ASKED QUESTIONS
Rising environment awareness and increasing use of bio-polymers are the major factors driving the market growth.
The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.
Low cost of lignin products, which makes transportation costlier than overall product price is the major factor estimated to hamper the market growth.
The market in Asia Pacific is estimated to garner the largest market share owing to the growing construction industry in the region, which creates further growth opportunities.
The major players in the market are Aditya Birla Group (Domsjö Fabriker AB), Nippon Paper Industries Co., Ltd., METSA Group, Burgo Group S.p.A., The Ingevity Group, Rayonier Advanced Materials, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by product, source, application, and by region.
The macromolecules segment is anticipated to hold largest market over the forecast period as they are used to make carbon fibres and other bio-polymers.
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