Global Lignin Market: Snapshot
The global lignin market is developing at a healthy pace and is expected to witness a positive growth rate in the near future. The expansion of the application sector and the high rate of industrialization and urbanization are estimated to support the development of the lignin market in the coming years. The key players in the market are likely to target the developing economies around the world as they offer potential growth opportunities. In addition to this, the rising number of partnerships and strategic collaborations is further expected to accelerate the market growth in the coming few years.
Rising Need for Dust Control to Drive Global Lignin Market
A research report by Transparency Market Research states that, in 2014, the global lignin market stood at US$782.3 mn. The market is projected to reach a value of US$985.5 mn by the end of 2023, exhibiting a 2.75% CAGR between 2015 and 2023.
The increasing use of lignin in binders, adhesives, and concrete admixtures is considered as the key factor that is expected to encourage the growth of the global lignin market in the next few years. The increasing research and development activities and the enhancement of the production procedures are further estimated to support the market growth in the near future. In addition to this, the rising level of pollution, resulting in a demand for lignin for the dust control systems is another key aspect accelerating the growth of the market over the next few years. On the flip side, the rising awareness among consumers concerning the negative impact of the lignin production for the human health as well as environment are estimated to curtail the growth of the global market in the coming years. Nonetheless, the improvement of technology and the advent of new systems for manufacturing processes are likely to ensure the market growth in the coming few years.
Asia Pacific to Offer Growth Prospects for Market Players
In the previous years, North America held a major share of the global lignin market and will continue to lead the market in the next few years. The existence of players is expected to support the development of the market in the near future. Europe is expected to face a steady growth in the lignin market. Asia Pacific, on the contrary, is predicted to offer lucrative opportunities for the market players, thanks to the growing demand for lignin from the developing economies. The high rate of industrialization is projected to ensure the development of the lignin market in the coming few years. Furthermore, the Latin America lignin market is expected to witness a positive growth in the coming few years.
The global lignin market is extremely consolidated in nature, owing to which a few number of players are leading the market holding a massive share. The entry barriers in the market are quite high making it difficult for the new players to participate in the global lignin market. The top companies in the market, namely Domtar Corporation, Domsjö Fabriker AB, Tembec, Inc., Borregaard LignoTech, and MeadWestvaco Corporation. In order to maintain their position and enhance market penetration, the key players are focusing on the research and development activities. In addition to this, the expansion of the product portfolio and the innovations in the market are some of the important strategies that are being adopted by the players.
Lignin is the substance that gives plants their ‘woody’ structure. The global lignin market is driven by diverse applications of lignin across several industries such as cement/concrete, paper, cosmetics, metallurgy, and animal feed.
The market report examines, forecasts, and estimates the global lignin market in terms of revenue and demand between the years 2014 and 2023. The report also studies the key driving and restraining factors that are impacting the global market in the current scenario and their potential implications on the future of the market.
The report presents a comprehensive overview of the global lignin market based on the key products, applications, and key regional markets. The details regarding revenue generated by product and application segments is included in the report. The market performance is also studied based on its key regional segment.
This is a comprehensive report that includes attractiveness analysis of the market segments to estimate their future growth prospects. The data gathered with the help of a several primary and secondary research techniques is then analyzed using industry-leading analytical methods to provide a 360 degree snapshot of the market.
Overview of the Global Lignin Market
The global market for lignin, which had a valuation of US$782.3 million in 2014, will expand at a moderate, yet positive CAGR of 2.7% between 2015 and 2023 and rise to US$ 985.5 mn by 2023. In terms of volume, the market stood at 1115.4 Kilo tons in 2014. The report credits the rising set of niche applications of lignin as the key driving force for the global lignin market.
The wide array of uses of lignin as binder, emulsifying agent, dispersant also drive demand of lignin across a number of end-use industries. This is a chief factor why Asia Pacific, the region that is witnessing robust development in the industrial sector, is turning into an increasingly lucrative regional market for lignin manufacturers.
In terms of product-types, the report segments the global lignin market into kraft lignin, lignosulfonates, and others (including organosolv). Key applications of lignin studied in the report include dye stuff, animal feed, concrete additive, and others (including absorbents and cosmetics). Based on geography, the market is segmented into North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa.
Of the key product types examined in the report, the lignosulfonates segment witnesses the highest demand from numerous end-use industries and leads the global lignin market. The product type of kraft lignin, chiefly used in the production of dyes and insecticides, held 5% of the market in 2014. Of the key applications of lignin, the concrete additives segment held over 45% of the market in the same year.
Global Lignin Market: Key Vendors
The report studies business profiles of some of the key vendors operating in the global lignin market, including Domsjö Fabriker AB, Nippon Paper Industries Co., Ltd., Changzhou Shanfeng Chemical Industry Co., Ltd., MeadWestvaco Corporation, UPM-Kymmene Corporation, Borregaard LignoTech, Tembec, Inc., and Domtar Corporation.
Major regions analyzed under this research report are:
- North America
- Asia Pacific
- The Middle East and Africa
- Latin America
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segment