Europe is estimated to lose its market share during the forecast period, due to rising production and labor costs in the region as compared to other regions. Demand for lignin is also projected to increase in the Middle East and Africa during the forecast period.
Albany, NY -- (SBWIRE) -- 01/06/2016 -- Lignin is the substance that gives plants their 'woody' structure. The global lignin market is driven by diverse applications of lignin across several industries such as cement/concrete, paper, cosmetics, metallurgy, and animal feed.
The market report examines, forecasts, and estimates the global lignin market in terms of revenue and demand between the years 2014 and 2023. The report also studies the key driving and restraining factors that are impacting the global market in the current scenario and their potential implications on the future of the market.
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The report presents a comprehensive overview of the global lignin market based on the key products, applications, and key regional markets. The details regarding revenue generated by product and application segments is included in the report. The market performance is also studied based on its key regional segment.
This is a comprehensive report that includes attractiveness analysis of the market segments to estimate their future growth prospects. The data gathered with the help of a several primary and secondary research techniques is then analyzed using industry-leading analytical methods to provide a 360 degree snapshot of the market.
Overview of the Global Lignin Market
The global market for lignin, which had a valuation of US$782.3 million in 2014, will expand at a moderate, yet positive CAGR of 2.7% between 2015 and 2023 and rise to US$ 985.5 mn by 2023. In terms of volume, the market stood at 1115.4 Kilo tons in 2014. The report credits the rising set of niche applications of lignin as the key driving force for the global lignin market.
The wide array of uses of lignin as binder, emulsifying agent, dispersant also drive demand of lignin across a number of end-use industries. This is a chief factor why Asia Pacific, the region that is witnessing robust development in the industrial sector, is turning into an increasingly lucrative regional market for lignin manufacturers.
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In terms of product-types, the report segments the global lignin market into kraft lignin, lignosulfonates, and others (including organosolv). Key applications of lignin studied in the report include dye stuff, animal feed, concrete additive, and others (including absorbents and cosmetics). Based on geography, the market is segmented into North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa.
Of the key product types examined in the report, the lignosulfonates segment witnesses the highest demand from numerous end-use industries and leads the global lignin market. The product type of kraft lignin, chiefly used in the production of dyes and insecticides, held 5% of the market in 2014. Of the key applications of lignin, the concrete additives segment held over 45% of the market in the same year.
Global Lignin Market: Key Vendors
The report studies business profiles of some of the key vendors operating in the global lignin market, including Domsjö Fabriker AB, Nippon Paper Industries Co., Ltd., Changzhou Shanfeng Chemical Industry Co., Ltd., MeadWestvaco Corporation, UPM-Kymmene Corporation, Borregaard LignoTech, Tembec, Inc., and Domtar Corporation.
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