Seattle, Oct. 25, 2022 (GLOBE NEWSWIRE) -- The global Lignin market was accounted for US$ 872.2 Million in terms of value and by the end of 2021 and is expected to grow at a CAGR of 2.7%.
Key Trends and Analysis of Global Lignin Market:
Growing trend in the market of bio-based carbon product was developed to manufacture increasing investment. Bio-based raw materials like crops, wood, and algae bio-based carbon products are enzymes are used in the production of chemical building blocks, detergents, pulp and paper, textiles, etc. Lignin was another part of natural resources and also organic polymer which found in tissues and vascular plants and algae. Demand of lignin is increasing day by day in animal feed. For instance, Lignin is a key by-product of lignocellulosic biorefineries, and a valuable renewable resource for Europe’s bio-based industries.
Annually, approximately 60 million tons of lignin is extracted from wood as a by-product of the pulping industry. Even more is expected to originate from second generation bioethanol production in the future.
In 2018, Enso has launched 'Lineo' bio-based lignin as a renewable replacement for oil-based glue. Wood-based carbon can be used as a crucial component in batteries typically used in consumer electronics, the automotive industry, and large-scale energy storage systems etc. Continuous product innovation of lignin market by the key manufacturer is one of the major trends in the market. Fossil-based materials are currently used - for example in resins for plywood, oriented strand board (OSB), laminated veneer lumber (LVL), paper lamination and insulation material. Bio-based lignin as a renewable replacement for oil-based glue.
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Key Market Takeaways:
Lignin Market size was valued is expected to exhibited over CAGR 2.7% during 2022-2030. Rapidly increasing investments in the development of low-cost coal-based carbon fibers is expected to drive the global lignin market growth.
Lignin is used by the gas industry which used to control mud viscosity in oil. For which major player are dependent on lignin as it is most important carbon sources on Earth.
Lignin is also one of the most plentiful biomass sources. Cows, goats, horses, and other herbivores that have bacteria that digest cellulose cannot break down much lignin (it is the flora and fauna of their digestive systems that provide the miracle of breaking down celulosic materials). White mold and other fungi constitute the majority of the organisms in nature that recycle lignin.
New technologies have been developed to produce Bio-bitumen based lignin. For instance, on 18th May 2021, Praj Industries announced that it has developed a technology to produce Bio-bitumen based on lignin. Praj has now developed a proprietary process (under patenting) to convert the crude lignin into Bio-bitumen which has potential to replace this fossil based bitumen and offer eco-friendly green bitumen. The binding and viscoelastic property of Bio-bitumen makes it useful for applications in asphalt," the release stated.
Competitive Landscape:
Major players operating in the global lignin market include Green Value SA (US), LENZING AG (Austria), Northway Lignin Chemical (Canada), Tembec (Canada), Innventia (Sweden) and WestRock Company (US) Lignin Market Report Summaries Detailed Information By Top Key Players as Borregaard Ligno Tech, Domtar Corporation, Aditya Birla Group, Liquid Lignin Company LLC among others.
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Market Segmentation:
- Global Lignin Market, By Product:
- Lignosulfonates
- Kraft Lignin
- Others
- Global Lignin Market, By Application:
- Concrete Additives
- Animal Feed
- Dye Stuff
- Others
- Global Lignin Market, By Region:
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
- Middle East
- Africa
- North America
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