Albany, NY -- (SBWIRE) -- 05/18/2018 -- The global sodium lignosulfonate market is moderately consolidated with the dominance of a few key companies that have global presence, according to a market publication by Transparency Market Research (TMR). The market is characterized by integration across the value chain with multiple key players involved in the production of raw materials for the manufacture of lignosulfonate.
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According to TMR, the global sodium lignosulfonate market is dominated by some key players, namely Borregaard LignoTech, Sappi, Burgo Group, Tembec, and Nippon Paper Industries Co. Ltd. The report says that the global sodium lignosulfonate market is likely to expand at a steady 4.3% CAGR between 2017 and 2025, for the market to be worth US$446.14 mn by 2025-end. The market stood at a valuation of US$306.47 mn in 2016.
Among the key application segments, concrete admixture leads in the global sodium lignosulfonate market. However, in terms of growth potential, animal feed binder and oil well additives are likely to gain pace over the forecast period.
Europe is a significant market for sodium lignosulfonate, with the region holding the leading share of more than 35% vis-à-vis revenue in 2016. In the upcoming years, Asia Pacific is expected to lead in terms of growth potential followed by Middle East & Africa.
Use as Well Additives in Oil Production Boosts Market
The global sodium lignosulfonate market is primarily driven by new construction undertakings and pursuits for renovation of old buildings. The low cost factor of sodium lignosulfonate account for its widespread use predominantly in developing countries, where demand for water-reducing chemicals is considerably high.
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Besides this, factors such as infrastructure development and growing population in developing economies is also anticipated to boost the demand for sodium lignosulfonate. This is because construction industry makes use of large amount of cement for residential, commercial, and industrial construction undertakings.
The sodium lignosulfonate market also receives impetus from growth in upstream and downstream industries associated with the oil sector. In the Middle East, oil companies are making efforts to augment oil production to serve the ever-increasing demand from downstream industries. The best oil production practices involve different additives to maintain intactness of various drilling factors and improve oil extraction. Sodium or calcium lignosulfonate are some of the widely used oil well additives in oil production.