Sellbyville, DE -- (SBWIRE) -- 11/19/2018 -- Lignosulfonates market is projected to reach over USD 973 million by 2024 according to this new research report. Several physical and chemical properties of lignosulfonates make them suitable to be used in the construction industry. The construction industry has been steadily growing due to the economies heading at a fast pace. The infrastructural development has given boost to the construction industry which will be a driving force for the product market. The use of the product as plasticizers in cement admixtures will give a boost to the industry.

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The demand for commercial feed will positively influence the product market. The nutritional content of animal feed is enhanced with the use of the product which will accelerate the growth of the lignosulfonates market. Livestock farmers have shifted their focus to pelletized feed for animals which will supplement the product market.

The demand for the product in oil & gas industry will fuel the growth of the product market. The use of the product for regulating the parameters of drilling fluids will give an impetus to the product market. The product's use as a dust control agent will also drive the product market. It is environment friendly which will further augment the product's demand.

Many substitutes pose a threat to the product market. Few of them are sulfonated melamine formaldehyde, polycarboxylic ether and sulfonated naphthalene formaldehyde. Presence of various animal feed binders such as bentonite, urea-formaldehyde, clay, etc. may leave a negative impact on the product industry.

Calcium and sodium lignosulfonates are anticipated to generate a high revenue owing to widespread use in pellet binder and concrete admixtures. The economic price of sodium based product and its range of applications will drive the product market. Cement admixtures accounted for a market share of over 25% in 2015.

Rising awareness about the health of animals has given impetus to the industry. The use of the product in animal feed binder is projected to grow at a decent rate of about 4%. The lignosulfonates market volume of feed binders is estimated to cross 1 billion tons by 2024 which will ramp up the product demand.

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The U.S. dominated the lignosulfonates market in terms of revenue, which will continue to grow owing to the rise in demand for feed additive. The construction industry in Japan, India and China has been continuously evolving, which will create a sprouting demand for lignosulfonates during the forecast period. The exploration of oil wells has considerably increased in Middle East & Africa which will create new avenues for the product market. The escalating demand for oil well additives will propel the market growth.

The product market is relatively consolidated. Some of the major companies present in this industry are Flambeau River Papers, Tembec Inc., Domsjö Fabriker AB, Borregaard LignoTech, Sappi Limited, Nippon Paper Industries Co., Ltd., Burgo Group Spa, Qingdao Newworld Material Co Limited, Shenyang Xingzhenghe Chemical Co., Ltd. and Green Agrochem.

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