Sellbyville, DE -- (SBWIRE) -- 03/08/2019 -- Lignosulfonates market is anticipated to surpass USD 100 million by 2024. Increasing application scopes of the product in dyes, disperse pesticides, carbon black and other insoluble liquids and solids should propel product demand. It helps decrease viscosity of slurry by reducing amount of water used in the production of cement. Growth in global production of paper and pulp industry will drive lignin market.

Lignin market from aromatic applications should witness gains at over 5% by 2024 owing to its increasing application outlook in industries as surfactant, adhesives, phenolic resins and epoxy resins. They are used to manufacture phenol-based compounds called phenol derivatives and being a natural antioxidant is used in cosmetics for tropical formulation.

Lignin market should surpass USD 1.5 Billion by 2024; according to a new research report by Global Market Insights, Inc. Rising air pollution levels in cities and industrial areas along with need for dust control should accelerate industry growth. Increasing usage of lignin in binders, adhesives and concrete admixtures is expected to drive product demand. They are essentially used as an additive, dispersant and binder opening up new avenues in diverse and niche market.

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Growing demand for dispersants due to increasing number of automotive and concrete industries primarily in Europe and North America should boost product demand. Growing investment by government authorities to develop roads, highways and railways due to rise in construction spending should promote product demand.

Stringent regulatory regimes in North America and Europe pertaining to use of bio based and eco-friendly products should promulgate industry growth. Growing environmental concerns regarding use of synthetic products which are non-biodegradable, highly toxic in construction and dust control applications should bolster industry growth.

Raw material to extract lignin are woods, though production of timber has been increasing in the recent years but with growing environmental concern government has curbed use, export, import and sales of timber-based products which may hamper industry growth. Technological advancements with increasing R&D spending by manufacturing companies should drive industry growth.

North America lignin market led by the U.S., Canada and Mexico should witness gains at over 4.5% during projected period. This growth of regional demand can be attributed to increasing consumer inclination towards green building projects. Rapid urbanization along with increasing investments in infrastructure by government should drive concrete admixture demand in the region which should parallelly stimulate lignin market.

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Kraft lignin market should witness maximum growth during projected period at over 6.5%. This growth in demand can be ascribed to rising building renovation and remodeling trends due to rising living standards may boost products demand. Rising application outlook for kraft lignin in active food packaging owing to its bio degradability and stringent regulatory regimes banning use of polymeric products for packaging. It is also used in foam fire extinguishers as steading agent

Downstream application for lignin is classified into carbon fiber, vanillin, phenol and BTX. Carbon fiber is used in high mechanical performance and low weight polymeric applications. It is used in sports equipment, aircraft satellites, pressure vessels and turbine components. It is also used to reinforce cement in high earthquake risk regions.

Global lignin market share is moderately fragmented with key industry player like Borregaard LignoTech, Rayoneir, Domtar Corp, Stora Enso and Burgo Group. Companies strategize to expand production capacity and regional presence adopting mergers & acquisition, partnerships and joint ventures. The company also invest in R&D to improve product portfolio and application outlook for products.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.