Research Nester has released a report titled “Lignin Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global lignin market in terms of market segmentation by product, source, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global lignin market is expected to witness growth by a moderate CAGR during the forecast period 2021-2029. The global lignin market is segmented on the basis of application, into macromolecules, aromatics, and others. Out of these, the macromolecules segment is expected to hold largest market share during the forecast period, as these are used to manufacture various bio-polymers, including carbon fibres.
The global lignin market is expected to grow owing to its various uses including making nutritional foods for animals, aromatic alcohols, and as dispersant in concrete additives. The growing demand for lignin in paper and pulp industry, and construction industry, is estimated to boost the market growth. Moreover, abundance of lignin in nature, is estimated to boost the market growth. According to a report by the U.S. Environment Protection Agency (EPA), lignin makes up 20 to 35% of the total biomass present on earth. Moreover, in another report by the U.S.EPA, lignin can be developed into an effective and cheaper pollutant absorbent, which is estimate to further promote the market growth.
On the basis of region, the global lignin market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in Asia Pacific region is expected to record the fastest growth during the forecast period on the back of the rising requirement of cement by construction industry backed by the growing need for housing for the increasing population. The market in Europe is also anticipated to garner notable share over the forecast period, owing to the rising demand for biopolymers backed by the initiatives to curb greenhouse gas emissions.
Rising Environment Awareness to boost the Lignin Market Growth
There is a growing awareness globally regarding greenhouse gas emissions caused by high dependence on crude oil and its derivatives. This has increased the demand for bio-based polymer products that are environmentally friendly, renewable and recyclable in nature. These shifting trends in the chemical manufacturing industry and increasing requirement of natural materials is projected to fuel the demand for lignin.
However, Lignin is abundant in nature and therefore, is extremely low-cost, which creates a challenge for various end-user industries, as transportation of lignin costs much higher than the product itself. This is estimated to hamper the market growth
This report also provides the existing competitive scenario of some of the key players of the global lignin market which includes company profiling of Borregaard LignoTech, Domtar Corporation (NYSE: UFS), Aditya Birla Group (Domsjö Fabriker Lignin), Nippon Paper Industries Co., Ltd. (TYO: 3863), METSA Group (HEL: METSB), Burgo Group S.p.A., The Ingevity Group (NYSE: NGVT), Rayonier Advanced Materials (NYSE: RYAM), Stora Enso Oyj (OTCMKTS: SEOAY) and Merck KGaA (Sigma Aldrich) (NYSE: MRK). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global lignin market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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