Lignin Market size was valued at US$ 999.74 Mn. in 2022 and the total revenue is expected to grow by 2.37% from 2022 to 2029, reaching nearly US$ 1177.87 Mn.
Lignin Market Overview
As per Maximize Market Research, a global business research and consultancy firm, the total global market for “Lignin Market” was USD in 2022 and is expected to grow at a CAGR of percent over the forecast period to reach USD by 2029.
Lignin Market Dynamics
Fossil fuels are quickly running out due to the rising usage of them for various purposes, such as the manufacture of chemicals and transportation fuels. Currently, around 80% of chemicals are produced using fossil fuels. Due to the scarcity of these resources, there is a pressing need for an alternative source to produce energy and chemicals. Lignocellulosic biomass, which can produce energy in the form of biofuel and value-added chemicals, is now the most promising renewable carbon source.
Only a small part (1-2%) of the more than 70 million tons of lignin produced industrially each year is utilised. Due to its polyaromatic nature, lignin is a well-known source of several compounds with added value. Consequently, it is anticipated that the use of lignin in many sectors will accelerate the growth of the lignin market.
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Lignin Market Scope and Methodology
The report comprehensively assesses the Lignin market’s size estimation, encompassing existing and upcoming trends. It delivers an extensive examination of pivotal advancements, marketing tactics, supply and demand indicators, and profiles of market proprietors, leaders, potential contenders, and new entrants. Employing a bottom-up approach, the report estimates the Lignin Market. Primary data sources involve interviews with notable industry experts, business owners, and marketing specialists, while secondary sources encompass financial reviews and annual reports of top manufacturers. For comprehensive insights into market penetration, competitive landscape, demand analysis, and regional evaluation, the study spans local, regional, and global levels.
Lignin Market Regional Insights
The Lignin market exhibits extensive categorization across North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The Regional Analysis furnishes the current status of the Lignin market within the countries covered. This report offers a comprehensive assessment of factors, market dimensions, growth rates, and regional import-export dynamics.
Lignin Market Segmentation
The Kraft Lignin, Lignosulphonates, Low Purity Lignin, and Others product categories make up the Lignin Market. In 2021, the sector for lignosulphonates had the most market share (71.23%). In the oil and gas industry, lignisulfonates are used to control the viscosity of drilling mud for deep oil wells. Lignisulfonates are also used to make the smooth clay slips used in ceramics. Due to the aforementioned factors, there will be an increase in demand for lignosulfonates lignin during the course of the forecast period.
The Lignin Market is divided into Hardwood, Softwood, Straw, Sugarcane, Bagasse, Corn Stover, and Spent Liquor categories based on raw material. In 2021, the Hardwood market category had the biggest market share. Since hardwood lignin has a low molecular weight and a high concentration of S-lignin units, it is utilized to manufacture a variety of adhesives. This type of lignin can be a good replacement for adhesives made of petrochemicals because it is made from plant elements that are left over after harvesting. It minimizes the impact on the environment by utilising biowaste properly.
The Lignin Market is divided into Aromatics and Macromolecules based on Application. In 2021, the Macromolecules category held a commanding 58.63% of the market share. It is anticipated that when carbon fibers are employed more frequently as lightweight materials in the building and automotive industries, the significance of macromolecules will rise. To produce carbon fibers, carbon, biofuels, bitumen, catalysts for bio-refineries, and activated carbon, the macromolecules are further processed. As the aerospace and automotive industries demand lighter materials, carbon fibers are becoming more and more widespread. Additionally, because of their enhanced performance and durability, lightweight cars are expected to see an increase in demand.
Lignin Market Size and Forecast, by Raw Material (2022-2029)
1. Hardwood
2. Softwood
3. Straw
4. Sugarcane Bagasse
5. Corn Stover
6. Spent Liquor
Lignin Market Size and Forecast, by Product (2022-2029)
1. Kraft Lignin
2. Lignosulphonates
3. Low Purity Lignin
4. Others
Lignin Market Size and Forecast, by Application (2022-2029)
3. Aromatics
3. Macromolecules
Lignin Market Size and Forecast, by Region (2022-2029)
1. North America
2. Europe
3. Asia Pacific
4. Middle East and Africa
5. South America
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Lignin Market Key Players
1. Borregaard LignoTech
2. Domtar Corporation
3. Liquid Lignin Company LLC
4. Stora Enso
5. Nippon Paper Industries Co., Ltd.
6. Rayonier Advanced Materials
7. Domsjo Fabriker AB (Aditya Birla)
8. Burgo Group Spa
9. Changzhou Shanfeng Chemical Industry Co Ltd
10. The Dallas Group of America, Inc
11. Ingevity Corporation
12. Sigma Aldrich
13. Green Value SA
14. LENZING AG
15. Northway Lignin Chemical
16. Tembec
17. Asian Lignin India Manufacturing Pvt Ltd.
18. Innventia
19. Weyerhaeuser
20. WestRock Company
Key questions answered in the Lignin Market are:
- What is Lignin?
- What was the Lignin market size in 2022?
- What are the different segments of the Lignin Market?
- What growth strategies are the players considering to increase their presence in Lignin?
- What are the upcoming industry applications and trends for the Lignin Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Lignin Market?
- Who are the key players in the Lignin market?
- What segments are covered in the Lignin Market?
- Who are the leading companies and what are their portfolios in Lignin Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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