According to a report by Grand View Research, Inc., the worldwide LIGNIN MARKET is predicted to attain USD 913.1 million by 2025. Lignin is a natural polymer found in the cell walls of plants and is the chief constituent of wood. It can be extensively used as an adhesive, binder, and concrete admixture.
Lignin can be widely used as for dust control and has emerged as the best possible substitute for calcium chloride. Rising concerns over air pollution and health risks have increased the need for dust control in residential, industrial, agricultural, and commercial sectors and this can propel the market over the forecast period (2014 to 2025). In addition, increasing application of carbon fibers in automotive and construction industries due to their low weight is projected to boost market growth. Growing use of the product in animal feed is also expected to have a positive impact on the market. Rapid development of oil and gas industries across the world is also expected to fuel the market in the near future.
Browse Research Report on Lignin Market:
In November 2017, Enerkem Inc., one of the leading biofuel producers, received approval from the U.S. Environmental Protection Agency (EPA) to trade cellulosic ethanol produced at their facility located at Edmonton, AB, Canada. In September 2017, the company announced the commercial production of cellulosic ethanol using non-recyclable and non-compostable mixed municipal solid waste.
On the down side, strict guidelines limiting the manufacturing of polymers to reduce greenhouse gas emissions is likely to restrain the market. Additionally, stringent rules regarding deforestation around the world may hamper market growth.
Geographically, the market can be divided into North America, Europe, Asia Pacific, Central and South America, and Middle East & Africa. In 2015, Europe acquired the largest market share and estimated for 40% of the total volume. The market in this region is likely to witness steady growth as an intermediate for many chemical compounds including phenolic resins and BTX. Additionally, REACH guidelines for curbing transportation of synthetically extracted chemicals and increasing demand for dust controllers for reducing air pollution during construction is anticipated to have a positive impact on the market. In 2015, Germany captured the largest individual market share of more than 15% in the Europe market.
Asia Pacific is likely to grow rapidly during the forecast period. This growth can be attributed to increasing use of bio-based materials in the manufacturing process and flourishing construction industry in developing countries. In addition, existence of a robust pulp and paper manufacturing industry is expected to increase lignin production.
North America represents one of the largest markets owing to high demand for bio-based macromolecules in various industries including construction, automobile, pharmaceutical, food and beverage, and energy. In addition, satisfactory guidelines implemented by major authorities like the FDA and EPA are predicted to boost the market in this region.
Some of the leading companies operating in the market are Domtar Corporation, Tembec, Borregaard LignoTech, Aditya Birla Group, and Northway Lignin Chemical. The market is extremely competitive due to the presence of a large number of companies worldwide. Acquisition is anticipated to be a major strategy implemented by most companies. The market is anticipated to benefit from rising investments in R&D by top manufacturers to develop better technologies for extraction of lignin and development of applications in aromatics.
View press release of this research report by Grand View Research:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials, and healthcare.
For more information: www.grandviewresearch.com
