Lignin Market Size will Observe Substantial Growth by 2023

The global lignin market is not easy to crack for aspiring players. Entry barriers are high owing to a few large players enjoying a stronghold over the market. Together they account for a substantial share in the market. Given their dominant positions, their various business moves have been continually reshaping the dynamics of the market. Even mid-sized players in the global lignin market have it tough owing to their larger counterparts enjoying economies of scale and entering into strategic alliances to keep their positions intact.

Some of the prominent participants in the global lignin market are Domtar Corporation, MeadWestcavo Corporation, Tembec, Inc., Domsjö Fabriker AB, and Borregaard LignoTech.

A report on the global lignin market prepared by Transparency Market Research finds that it would rise at a lackluster 2.75% CAGR from 2015 to 2023. Rising at this pace, the market’s projected value would likely reach US$985.5 mn by 2023-end from US$782.3 mn in 2014.

Application-wise, the concrete additive segment accounts for a leading share in the global lignin market, finds our report. In the near term, the segment is predicted to hold on to its dominant position owing to the construction boom worldwide. From a geographical perspective, Asia Pacific is a key contributor to the global lignin market. This is because of the swift pace of industrialization and urbanization in the region, particularly in the nations of China and India. This has also served to draw the attention of leading players to the market, who are now setting up shop there to tap into the growing opportunities.

Lignin Primarily Used as Adhesives and Binders

Numerous factors are acting as a catalyst for growth in the global lignin market. Foremost among those is the use of lignin in adhesives, binders, and concrete admixtures. Further, increasing demand for dust control systems owing to rising levels of air pollution is also expected to catalyze growth in the market. The lead analyst of our report explains in details: "Lignin as an additive in concrete helps to reduce water in it. This has led to its increasing demand." It is also used in animal feeds, automotive, pharmaceutical, energy, and food and beverage industries.

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Research and Development of Better Products and Production Processes Bodes Well for Market

Going forward, the global lignin market is expected to benefit significantly from substantial investments in research and development of better products by leading manufacturers. They are seen focusing on better technologies for lignin extraction and their various potential applications. Adds the lead analyst of our report, "Development of superior technologies such as lignoforce and lignin-based polymer technology will likely boost demand for lignin, benefitting the global lignin market. Further, bettering manufacturing technologies for lignin is also predicted to have a positive influence on growth."

Posing a challenge to the global lignin market, on the other hand, is the increasing knowledge about the negative impact of lignin production on both the environment and human health.

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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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