Lignin Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Lignin Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global lignin products market size reached US$ 1,019.6 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,217.5 Million by 2028, exhibiting a growth rate (CAGR) of 2.8% during 2023-2028.

Lignin products are derived from complex, non-toxic and biodegradable polymers, which are found naturally in the cell walls of dry-land plants. They exhibit excellent binding properties as they contain lignosulfonate that reduces sugar and sugar sulfonate. At present, they are utilized in wallboard, leather and water treatment, lead-acid batteries, oil recovery, industrial cleaners, and oil well drilling muds. They also find usage as adhesives, resins, binders, dispersants, emulsifiers, wetting agents, agglomerates, and chelating agents in various end use industries across the globe.

Lignin Products Market Trends:
Lignins can replace fossil-based raw materials in a wide range of products, such as plastics and chemicals. This, in confluence with a shift in consumer preferences towards the alternative sources of energy and chemicals due to the increasing prices and exhaustion of fossil fuel sources, represents one of the key factors bolstering the growth of the market. In addition to this, governing agencies of numerous countries are encouraging the adoption of energy-efficient measures in the pulp and paper industry to reduce carbon dioxide (CO2) emissions. This, in turn, is catalyzing the demand for refined lignin products to replace fossil-based phenols in resins for plywood, oriented strand board (OSB), laminated veneer lumber (LVL), paper lamination, and insulation material. Apart from this, lignin products are employed in the agriculture sector for making pesticides, fertilizer bricks, and animal feed pellets and additives. Furthermore, they find extensive usage in the healthcare industry as pharmaceutical excipients for tablet manufacturing. Besides this, the growing popularity of lignin-based carbon fibers as reinforcement composites in the aerospace industry is anticipated to provide lucrative opportunities to market players operating around the world.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global lignin products market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, source and application.

Breakup by Product:

Organosolv Lignin
Kraft Lignin
Lignosulphonates
Others

Breakup by Source:

Cellulosic Ethanol
Kraft Pulping
Sulphite Pulping

Breakup by Application:

Concrete Additive
Animal Feed
Vanillin
Dispersant
Resins
Activated Carbon
Carbon Fibers
Plastics/Polymers
Phenol and Derivatives
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Aditya Birla Management Corporation Pvt. Ltd., Borregaard AS, Domtar Corporation, Green Agrochem, Ingevity Corporation, Merck KGaA, Nippon Paper Industries Co. Ltd., Rayonier Advanced Materials, Stora Enso Oyj, The Dallas Group of America Inc., West Fraser Timber Co. Ltd. and Wuhan East China Chemical Co. Ltd.

Key Questions Answered in This Report
1. What was the size of the global lignin products market in 2022?
2. What is the expected growth rate of the global lignin products market during 2023-2028?
3. What are the key factors driving the global lignin products market?
4. What has been the impact of COVID-19 on the global lignin products market?
5. What is the breakup of the global lignin products market based on the product?
6. What is the breakup of the global lignin products market based on the source?
7. What is the breakup of the global lignin products market based on the application?
8. What are the key regions in the global lignin products market?
9. Who are the key players/companies in the global lignin products market?