Lignin Industry Overview
The global lignin market size was estimated at USD 954.5 million in 2019 and is expected to expand at a CAGR of 2.0% in terms of revenue, from 2020 to 2027.
Increasing demand for lignin in animal feed and natural products is anticipated to drive the growth. The product is widely utilized in the production of macromolecules used in the development of bitumen, biofuels, and bio-refinery catalysts. This factor is likely to support market growth. Growing demand for concrete admixtures and adhesives and binders coupled with increasing investments in infrastructure development is expected to fuel the market growth.
In U.S., the demand for lingo-sulphonates accounted for the largest market share of 85.5% in 2019 and is expected to expand at a CAGR of 1.6% over the forecast period. In addition, the well-established market for the production of pulp and paper in North America is further likely to support the market.
Gather more insights about the market drivers, restraints, and growth of the Global Lignin Market
Rising trend of using lignin as fuel for burning to use it in multiple applications like dispersants, binders, and adhesives is anticipated to augment the market growth in the forthcoming years. On a macro-level, factors such as increasing construction expenditure and rising demand for automobiles, electronics, and equipment manufacturing are expected to support the demand for lignin.
In Europe, the presence of a favorable regulatory framework for the use of lignin in a wide array of commercial applications is expected to be a key factor driving the market growth. The Asia Pacific, on the other hand, is anticipated to witness the fastest growth over the forecast period as a result of rapid industrialization and rising demand for electronics and automobiles.
Numerous players operating in the market engage in the full service for lignin and its applications. For instance, Nippon Paper is engaged in pulp and paper manufacturing and derives lignin during the pulping process. In addition, the company is engaged in forest cultivation and industrial plantations.
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Market Share Insights
June 2021: A Japan-based paper manufacturing company Nippon Paper Industries Co. Ltd., announced the acquisition of a certain portion of a liquid paper producing company, Elopak ASA’s issued ordinary share capital. As a result of the acquisition, both the companies have combined their expertise to develop innovative packaging solutions and achieve their common goal of offering sustainable packaging.
December 2020: A German industry player UPM Biochemical’s GmbH, of renewable biochemical’s, entered into an agreement with Domtar Paper Company LLC, a pulp & paper company based in the U.S. This agreement allows UPM to acquire Domtar’s Kraft lignin mill based in Plymouth, North Carolina (U.S.), thereby allowing the company to expand its operations to achieve goal in lignin market.
Key Companies profiled:
Some prominent players in the global lignin market include
- Borregaard LignoTech
- Domtar Corporation
- Aditya Birla Group
- Liquid Lignin Company LLC
- Nippon Paper Industries Co., Ltd.
- Metsa Group
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