Selbyville, Delaware, Nov. 10, 2020 (GLOBE NEWSWIRE) —
The lignin market value is expected to cross USD 1 billion by 2026, according to a new research report by Global Market Insights, Inc. Increasing applications of lignin as dispersant, thickeners, flocculent and complexing agent in adhesives and paints & coatings industries may augment market growth.
Increasing demand for dust suppressors especially on unpaved roads and construction sites is likely to fuel market trends. Increasing use of lignin in colorants and dyes used in food products, textiles and printing applications may propel industry landscape. Increasing demand for nutritious and easily digestible feed products for animals may raise product demand from animal feed application. Increasing construction activities and benefits such as improved strength and shock absorption obtained by concrete admixtures reinforced with lignin may foster market statistics.
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Lignin industry from low purity lignin is expected to exceed USD 896 Million by 2026. Increasing applications of low purity lignin as a catalyst in biorefinery feedstock is likely to boost market outlook. Increase in preference towards consumption of biomass and favourable regulation in the U.S. should stimulate industry demand. Excellent characteristics such as low molecular weight, sulfur free and has a narrow molecular weight distribution exhibited by low purity lignin may raise the product demand.
Some major findings of lignin market report include:
- The demand for lignin is rising owing to increasing awareness regarding the adverse effects of dust pollution on human and animal health.
- Increasing livestock farming in different countries of the world may raise the product demand from animal feed application.
- Key players in the lignin market include Rayonier Advanced Materials, Stora Enso Oyj, Domtar Corporation, Borregaard LignoTech, Domsjo Fabriker AB (Aditya Birla), Changzhou Shanfeng Chemical Industry Company, The Dallas Group of America, Inc.,Burgo Group Spa, Metsa Group, Liquid Lignin Company, Sigma Aldrich, Suzano SA, West Fraser, Nippon Paper Industries Co., Ltd. and Ingevity Corporation.
- Reduced dependency on crude oil, increased use of biobased raw materials and increasing applications in printing and dyeing industries is expected to raise the demand for kraft lignin in the coming years.
- Kraft lignin product segment is expected to reach over USD 18 million by 2026 growing at a CAGR of 6.9% over the forecast period.
- Manufacturers are heavily investing in R&D to develop high quality products with higher yields at lower costs.
- Lignin market through aromatic lignin application exceeded USD 380 Million in 2019 and is set to grow at a CAGR of 5.8% over the review period.
- Low level of technological advancements and lack of awareness among people regarding the benefits of lignin may decline the industry demand to some extent.
Browse key industry insights spread across 200 pages with 164 market data tables and 42 figures & charts from the report, “Lignin Market By Product (Kraft Lignin, Lignosulphonates, Low Purity Lignin), Application (Aromatics, Macromolecules), Lignin Downstream Potential (Vanillin, Carbon Fiber, Phenol, BTX) Industry Analysis Report, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/lignin-market
The use of lignin for production of BTX is expected to increase during the review period owing to the low feedstock cost required for production of BTX. Furthermore, increasing applications of BTX as additives in various simulation fluids to improve the flow of hydrocarbon during production may promote the market share. Increasing demand for consumer products such as paints, thinner, rubber product, adhesives, ink, cosmetics and pharmaceutical products which contain BTX is expected to further raise product demand.
Asia Pacific lignin market is expected to surpass USD 245 Million by 2026 growing at a CAGR of 6.9% throughout the assessment period owing to the increasing chemical production in the region. China is the largest producer of many chemicals obtained from lignin. Increasing trends towards the development of bio-based materials coupled with rapid growth of paper and pulp industry is expected to favor the regional market statistics. Increasing use of the product in the paint, coating, pesticide and textile industries may encourage business outlook.
Toc of this report @ https://www.gminsights.com/toc/detail/lignin-market
Browse Related Report:
Insoluble Dietary Fibers Market By Product (Cellulose, Hemicellulose, Chitin & Chitosan, Lignin, Fiber/Bran, Resistant Starch), Source (Cereals & Grains, Fruits & Vegetables), Application (Food [Bakery, Breakfast Cereals & Snacks, Confectionery, Dairy, Meat Products, Infant Food], Beverages, Pharmaceutical, Companion Animal Nutrition), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026
https://www.gminsights.com/industry-analysis/insoluble-dietary-fibers-market
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