New York, June 15, 2020 (GLOBE NEWSWIRE) -- The global Lignin market is forecast to reach USD 1.10 Billion by 2027, according to a new report by Reports and Data. Increasing demand for natural feed additives in animal nutrition along with expanded usage in various end-use industries such as paints & adhesives, construction, refining, and pulp & packaging would promote growth in the industry. Lignin has gained attention due to the possible uses of vanillin, carbon fibers, phenol, and BTX. Due to its biological provenance, insecticides, pesticides, emulsifiers, and heavy metal sequestrate, it has been accepted for use in production. The growing use of lignin, as a primary constituent of cement and concrete additives, is also projected to play a critical role in market evolution to boost their quality and operational life. Rising technical developments and accelerated urbanization have prompted producers to develop high-quality concrete mixtures to mitigate rain & moisture loss and improve building durability that is expected to increase the market growth.
The product is widely used in the manufacture of macromolecules often used to produce catalysts for bitumen, biofuels, and bio-refinery. That factor is likely to support the growth of the market. Rising livestock production and growing demands for high-quality animal protein have increased the opportunities for natural and healthy animal feed. From an early stage, the product plays a crucial role in enhancing the animal diet and offers high fiber content to provide energy to fight infections.
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Limited awareness among people and manufacturers of the characteristics and use of lignin products and a weak link between R&D facilities and manufacturers are also important factors of restraint for the global lignin market. In fact, on the world level, lignin goods are priced very low, and free trading is discouraged because shipping costs are higher than commodity prices.
The COVID-19 impact:
Covid-19 's spread has affected manufacturing and construction activities worldwide. Logistic limitations and reconsiderations of the raw material requirements are becoming a problem for producers. The producers have relied on derived demand as an intermediate commodity to rationalize production. The pandemic’s economic impact on companies and financial markets is also not favorable. Stock market volatility and decreasing global growth are anticipated, which will affect the market. Over the weeks, the sector has undergone a slowdown which will persist over the coming months. The Asia Pacific region was most affected by this pandemic, with China at the forefront of the epidemic. Most initiatives in multiple countries have changed to a temporary halt. Production and supply were put on hold, resulting in losses for manufacturers, dealers and consumers.
Further key findings from the report suggest
- The growth in the use of carbon fibers as lighter materials in the automotive and construction industries is expected to raise the significance of macromolecules. The macromolecules segment represented a market share of 19.6% in terms of revenues in 2019 and is expected to grow at a CAGR of 1.7%.
- Because of its highly developed distribution channel industries, advanced processing capabilities, combined with a highly skilled workforce and growing R&D initiatives, the U.S. is among the leading countries in the market. Developing applications and strong demand encourage producers to concentrate on new technologies to expand the market.
- The Asia Pacific driven by China, India, and Japan's production may record improvements in revenue with a CAGR of 2.1% by 2027 related to the growing infrastructure and increasing demands for high-quality concrete mix in the region. Rapid urbanization along with raw material availability and cheap labor has led to considerable expansion in the construction of buildings, which is the main driving factor
- Manufacturers make the distinction of their products based on quality and price, taking into account characteristics such as quality and level of purity. The players are focusing on developing multifunctional applications.
- Key participants include Borregaard LignoTech, Rayonier Advanced Materials, Domtar Corporation, Asia Lignin Manufacturing Pvt. Ltd., Northway Lignin Chemical, Green Value, Aditya Birla Group, Liquid Lignin Company LLC, Nippon Paper Industries Co., Ltd., and The Dallas Group of America, Inc. among others.
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For the purpose of this report, Reports and Data have segmented into the global Lignin market on the basis of product, source, application, and region:
Product Outlook (Revenue, USD Million; 2017-2027)
- Lignosulphonates
- Kraft Lignin
- Organosolv Lignin
- Others
Source Outlook (Revenue, USD Million; 2017-2027)
- Kraft Pulping
- Cellulosic Ethanol
- Sulfite Pulping
Application Outlook (Revenue, USD Million; 2017-2027)
- Aromatic
- Dye Stuff
- Macromolecules
- Concrete Additives
- Animal Feed
- Absorbents
- Others
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Regional Outlook (Revenue, USD Million; 2017-2027)
- North America
- U.S
- Europe
- U.K
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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