Wilmington, Delaware, United States, June 15, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global lignin market was valued at US$ 926.0 Mn in 2022 and is projected to expand at a CAGR of 4.3% from 2023 to 2031 to reach US$ 1.4 Bn by 2031.
Recent market trends indicate intense focus on reducing reliance on petroleum feedstock driving research in lignin-derived carbon fiber and carbon nanofiber. Ongoing research and development activities in several countries on lignin-derived biofuels is broadening market outlook. An instance is recent research initiatives for development of lignin aviation fuels.
Rise in utilization of lignocellulosic biomass in the production of high value compounds, especially bioethanol and acids, is anticipated to fuel market development in the near future. Considerable applications of lignin-derived fuels in biochar, resins, and plastics are likely to boost the market.
For Insights on Global, Regional, and Country-Level Parameters with Growth Opportunities by 2031 – Download a sample Report
Surge in production of bio-oil by utilizing fast pyrolysis technology of lignin is ascribed to growing initiatives by governments to cater to burgeoning energy demands, since bio-oil is used in the production of value-added chemicals and fuels. Several other production methods are being utilized, such as supercritical fluid extraction, which is expected to offer promising avenues for companies in the global lignin market.
Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 926.0 Mn | |
| Estimated Value | US$ 1.4 Bn | |
| Growth Rate - CAGR | 4.3% | |
| Forecast Period | 2023 to 2031 | |
| No. of Pages | 243 Pages | |
| Market Segmentation | Purity, Application, | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | Domsjö Fabriker AB, Nippon Paper Industries Co., Ltd., Tokyo Chemical Industry Co, Ltd., UPM-Kymmene Corporation, Borregaard AS, Domtar Corporation, Stora Enso, Sappi, Green Agrochem-Lignin, RYAM (Rayonier Advanced Materials) | |
Key Findings of Study
- Extensive Utilization of Lignosulfonates in Multiple Applications: Extensive utilization of lignosulfonates as plasticizers or water reducers in order to improve the quality of cement is ascribed to their low cost. Producers of lignosulfonates are benefitting from constant improvements in rheological and physico-chemical properties. The lignosulfonates product segment is projected to account for a major lignin market share from 2023 to 2031. Significant utilization of lignosulfonates in the textile industry is also expected to bolster the segment. Considerable adoption of emulsifying agents in asphalt mix and oil-drilling fluids is driving usage of lignosulfonates.
- Rise in R&D Activities in Sustainable and Low-cost Precursor for Carbon Fibers Boosting Demand for Lignin: Widespread usage of lignin for the manufacture of carbon fibers presents lucrative opportunities for companies in the market. Lignin is fast emerging as sustainable, low-cost, and environmentally-friendly alternative to carbon fiber precursor. Rise in usage of lignin derived carbon nanofiber in automobile and transportation applications is bolstering the market. Increase in demand for these nanofibers in water purification and environmental remediation applications is broadening market outlook.
Key Drivers
- Surge in demand for low-carbon technologies in the construction sector is a key driver of the lignin market. Rapid adoption of environmentally-friendly and sustainable concrete additives is expected to propel the evolution of the market. An instance is significant utilization of lignosulfonates as a sustainable bio-admixture for concrete.
- Steady advances in lignin-based biofuel production methods are anticipated to drive R&D activities in lignocellulosic biomass, which is likely to bolster lignin market evolution. Rapid pace of production of environmentally-friendly biofuel is propelling the market expansion.
Buy this Premium Research Report | Immediate Delivery Available – https://www.transparencymarketresearch.com/checkout.php?rep_id=1460<ype=S
Regional Growth Dynamics
Europe constituted the leading market share of 48.8% in 2022. The region is projected to gain market share to reach 49.3% by 2031. Surge in utilization of lignin as concrete additives is expected to propel the market. Rise in demand for lignosulfonates in numerous building and construction applications is anticipated to boost market value of Europe in the near future.
North America is also a lucrative region in the global lignin market. The market in the region is propelled by steady advancements in production, processing, and extraction of lignin from various sources. The region is projected to account for 23.8% market share by 2031-end. Rise in R&D activities in biofuels and significant increase in number of biodiesel and bioethanol fuel stations in the U.S. and Canada are expected to offer opportunities for companies in North America.
Competition Landscape
The business landscape is highly fragmented, with presence of several manufacturers and producers. Prominent companies operating in the lignin market are
- Domsjo Fabriker AB
- Nippon Paper Industries Co., Ltd.
- Tokyo Chemical Industry Co., Ltd.
- UPM-Kymmene Corporation
- Borregaard AS
- Domtar Corporation
- Stora Anso
- Sappi
- Green Agrochem-Lignin
- RYAM (Rayonier Advanced Materials)
Get Customization on this Report for Specific Research Solutions: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=1460
Lignin Market Segmentation
Purity
- Lignosulfonates
- Kraft Lignin
- Organosolv
- Others
Application
- Concrete Additives
- Animal Feed
- Dye Stuff
- Cosmetics
- Absorbents
- Others
Region
- North America
- Europe
- Latin America
- Middle East & Africa
- Asia Pacific
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact:
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com
