Lignin Market Will Be Worth US $985.5 Mn by 2023 | TMR

Transparency Market Research has published a new report titled "Lignin Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 – 2023." According to the report, the global lignin market was valued at US$ 782.3 Mn in 2014 and is anticipated to reach US$ 985.5 Mn by 2023, expanding at a CAGR of 2.7% from 2015 to 2023. The global lignin market demand by volume stood at 1115.4 Kilo Tons in 2014.

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Increase in niche application of lignin in various fields such as building and construction, agrochemicals, and paints and coatings is contributing to the growth of the global lignin market. Functional properties offered by lignin is the major factor leading to high demand for lignin in the market. Usage of lignin as a dispersant, binder, and emulsifying agent has attracted the attention of major manufacturers in various end-user industries. Additionally, industrial expansion in developing economies such as Asia Pacific is propelling demand for lignin across the globe. These factors are likely to drive demand for lignin for applications such as concrete additive, animal feed, and dye stuff.

Lignosulfonates account for major share of the global lignin market. Demand for these sulfur-free lignins is high in the construction industry due to its high absorbency rate and zeta potential to cement particles. Lignosulfonates are used on a large scale in the production of cement, as these reduce the viscosity of slurry by decreasing the amount of water used in the production of cement. Lignin provides high-performance concrete strength; thus, it reduces the damage caused by moisture and acid rain. Hence, high demand for lignin in the building & construction industry is estimated to boost demand for lignosulfonates globally.

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Lignin produced though the kraft pulping process is known as kraft lignin. This lignin dominates the sulfite pulping process. Kraft lignin possesses different chemical properties than lignosulfonates. Therefore, it is used in the manufacture of dyes and insecticides. Kraft lignin accounted for more than 5% share of the global lignin market in 2014. The segment is projected to gain market share during the forecast period. The others segment (including organosolv) is also likely to drive demand for lignin at a steady rate in the near future.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousand