Covina, Oct. 05, 2023 (GLOBE NEWSWIRE) -- How big is the Lignin Market?
Lignin Market accounted for US$ 883.6 million in 2022 and is estimated to be US$ 1689.0 million by 2032 and is anticipated to register a CAGR of 6.3%.
Lignin is an important organic polymer formed from oxidative coupling of monolignols such as sinapyl alcohols, coniferyl and p-coumaryl. Lignin provides structural support to plants along with cellulose and hemicellulose and have become major component of plant cell walls.
Rising demand for sustainable and eco-friendly materials has been a major driver of the increasing interest in lignin as a raw material for a various applications such as aromatics, dye stuff, macromolecules, concrete additive, animal feed, absorbents, and others. Lignin-based materials offer a more sustainable alternative such as biodegradable plastic as they have a low carbon footprint and are eco-friendly which is expected to increase the demand for Lignin Market growth.
Key Highlights:
- In April 2023, Ahlstrom launched new range of renewable and sustainable filtrations solutions for automotive applications. The new launched ‘Ahlstrom ECO’ technology supports the growing sustainability demand of global transportation market by offering new choice for filter manufacturers.
Analyst View:
Growing interest in sustainable and eco-friendly materials, as well as the presence of a well-established pulp and paper industry has become a leading factor in target market growth. Presence of major players and technological advancement to produce bio-bitumen based on lignin is anticipated to increase demand for market growth.
| Attributes | Details |
| Lignin Market Value (2022) | US$ 883.6Mn |
| Lignin Market Projected Value (2032) | US$ 1689.0Mn |
| Lignin Market CAGR (2022 – 2032) | 6.3% |
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Segmentation:
- Based on Product- Lignin Market is segmented into Organisolv Lignin, Kraft Lignin, Lingo-Sulphonate and other.
- Based on Source-Lignin Market is segmented into Kraft Pulping, Cellulosic Ethanol, Sulphonates and others.
- Based on Applications-Lignin Market is segmented into Aeromatics, Dye Stuff, Macromolecule, Concrete Additive, Animal Feed, Absorbents and others.
- By Region-the Lignin Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
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Competitive Landscape & their strategies of Lignin Market:
The prominent players operating in the Lignin Market includes,
- Asian Lignin Manufacturing Pvt. Ltd.
- Borregaard LignoTech
- Domsjö Fabriker (Aditya Birla Group)
- Tembec Inc.
- Domtar Corporation
- Changzhou Shanfeng Chemical Industry Co. Ltd.
- Hubei zhengdong chemical Co. Ltd.
- Nippon Paper Industries Co. Ltd.
- MeadWestvaco Corporation
- Inventia AB.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
Lignin Market Report Scope:
- Market Overview: Provide an introduction to the lignin market, including its definition, classification, and applications.
- Market Size and Growth: Present historical market data and forecasts, including market size, growth rates, and trends over a specific period, typically five to ten years.
- Market Drivers: Identify and analyze key factors driving the growth of the lignin market, such as the increasing demand for sustainable and eco-friendly products, regulatory support, and technological advancements.
- Future Outlook: Provide insights into the future prospects of the lignin market, including growth opportunities, challenges, and emerging trends.
COVID-19 and Russia-Ukraine War Influence Analysis:
- COVID-19 Impact Analysis: Assess the short-term and long-term effects of the COVID-19 pandemic on the lignin market, including disruptions in the supply chain, changes in demand patterns, and the industry's response to the crisis.
- Russia-Ukraine War Influence Analysis: Examine how geopolitical events, such as the Russia-Ukraine war, might impact the lignin market, including disruptions in the supply chain, changes in trade dynamics, and potential geopolitical risks affecting market stability.
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