Lignin market is anticipated to grow at a significant CAGR of 5.2% during the forecast period. The rising demand for concrete admixtures is growing the demand for lignin across the globe during the forecast period. As this lignin and its products are used in concrete additives as binders, dust suppressants, and other forms. These products are more safe and economical than petroleum and salt-based products that are typically applied to road surfaces. According to the Observatory of Economic Complexity (OEC), in 2020, cement was the 257th most traded product, with a total trade of $12.4 billion. Further, the top importers of cement in 2021 were the US with $1.3 billion, China with $1.2 billion, Bangladesh with $513 million, and the Philippines with $464 million. Lignin is an organic substance or biodegradable polymer/polymer blend, which is produced naturally by certain woody plants, such as bushes & trees, and algal species such as seaweed & red algae, which acts as a natural binder in plant cellulose fibers and enhances the strength & stiffness of cell walls. Due to its various benefits, it is used in many industries.
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The global lignin market is segmented based on product and application. Based on product, the market is segmented into kraft lignin, lignosulphonates, low purity lignin, and high purity lignin. Based on application, the market is sub-segmented into aromatics and macromolecules. Among the application segment, the macromolecules sub-segment is expected to hold a prominent share in the global lignin market. The growing utilization of lightweight carbon fibers in several applications such as automotive and other sectors is the major factor propelling the growth of the market.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Lignin Market by Product
- Kraft Lignin
- Lignosulphonates
- Low Purity Lignin
- High purity lignin
Global Lignin Market by Application
- Aromatics
- Macromolecules
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Borregaard AS
- Ingevity Corp
- LENZING AG
- Lignin Lignin Company LLC
- RYAM (canada)
- Sappi North America
- Sigma-Aldrich Co. (Merck KGaA,)
- West Fraser Timber Co. Ltd.
- WestRock Co.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global lignin market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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