Global Lignin Market is Expected to register Around USD 900 Million by 2020
Deerfield Beach, FL -- (SBWIRE) -- 07/26/2017 -- Zion Market Research has published a new report titled "Lignin Market (Lignosulfonates, Kraft Lignin and Others) for Concrete Additive, Animal Feed, Dye Stuff, and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast 2014 – 2020" According to the report, global lignin market was valued at approximately USD 775 Million in 2014 and is expected to reach around USD 900 million in 2020, growing at a CAGR of slightly above 2.5% between 2015 and 2020. In terms of volume, the global lignin market stood at approximately 1,100.0 kilo tons in 2014.
Lignin is one of the important classes of complex organic polymer which is found in cell walls, fibers, and vessels which create wood and the lignified elements of plants. It is the most abundant renewable carbon source on Earth. Lignin helps to extract the liquid throughout the plant; therefore lignin is very essential in the growth of the tree. It is insoluble in water and alcohol but soluble in weak alkaline solutions. It also captures atmospheric carbon and stores it in the tissues of woody vegetation. It also helps to increase the soil moisture retention.
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Lignin can be classified on the basis of product types such as lignosulfonates, kraft lignin and others (including organosol, etc). Lignosulfonates dominated the lignin market with over two third shares of the lignin volume consumed in 2014. Demand for lignosulphonate is expected to exhibit CAGR of 1.4% through the forecast period. Kraft lignin possesses different chemical properties than that of lignosulfonates. Kraft lignin is mainly used in the manufacturing of dyes and insecticides. Kraft lignin accounted for over 7% of the global lignin market share in 2014.
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Lignin is used in various application areas such as, building & construction, agrochemicals, paints, and coatings, etc. Strong demand from these application industries contributed to the growth of global lignin market. Global lignin market is classified on the basis of application segments such as concrete additive, animal feed, dye stuff, etc. Concrete additives accounted for more than 45.0% of the global lignin market in 2014.
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Global lignin market was dominated by the North America region followed by Europe. The lignin market in Europe region is expected to grow at a rapid pace in the years to come. The Europe region is followed by the Asia Pacific and Latin America respectively. Asia Pacific is expected to be the fastest growing market for lignin during the forecast period.
The study of lignin market includes major companies operating in the Global are 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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