SAN FRANCISCO, November 25, 2015 /PRNewswire/ --
The global lignin market is expected to reach USD 619.1 million by 2022, according to a new report by Grand View Research, Inc. The market is expected to grow on account of its widespread use across numerous applications including animal feed, high quality concrete admixtures and dispersants.
Browse full research report with TOC on "Lignin Market Analysis By Product (Ligno-sulphonates, Kraft Lignin, Organosolv Lignin, High Purity Lignin) By Application (Macromolecules, Aromatics) And Segment Forecasts To 2022" at: http://www.grandviewresearch.com/industry-analysis/lignin-market
Kraft lignin accounted for over 10% of global market share in 2014. Reducing reliance on crude oil due to rising awareness regarding environment conservation has forced companies engaged in manufacturing BTX, phenolic resins and carbon fibers to use bio-based raw materials including Kraft lignin.
Further key findings from the report suggest:
- Ligno-sulphonates find application in refineries and cement additives owing to their higher adsorption properties. The segment is likely to witness significant gains at a CAGR exceeding 7.5% over the forecast period. Increasing expenditure for infrastructure development, particularly in emerging economies of Asia Pacific, Middle East and Latin America, is expected to drive demand over the forecast period.
- Global lignin demand in aromatics exceeded 350.0 kilo tons in 2014. Surging bio-based polymers industry in light of growing awareness towards GHG emissions is expected to fuel lignin demand for manufacturing aromatics over the forecast period.
- Initially, Mead-Westvaco was the sole commercial producer of Kraft lignin. However, Domtar launched a new product for Kraft lignin in 2014, which the company markets at a price lower than Mead-Westvaco. Increasing focus of manufacturers on product innovation is expected to open new opportunities for the overall lignin market.
- Asia Pacific is expected to be a lucrative market and is estimated to reach a value exceeding USD 370.0 million by 2022. Rising adoption of manufacturers to install state-of-the-art equipment to enhance lignin yield is expected to propel its production over the next seven years. In addition, utilization of latest technologies is expected to increase lignin yield which in turn is likely to reduce prices in the near future.
- Global Organosolv lignin demand is expected to exceed 10.0 kilo tons by 2022. Rising consumer awareness and demand for bio- based products in Europe is expected to boost sulfur-free lignin market over the forecast period. Switzerland-based GreenValue SA is one of the top sulfur free manufacturers in the world. The company offers sulfur- free lignin and its derivative and owns a commercial production facility in India.
- Key players present in the global lignin market include Northway Lignin Chemical, Aditya Birla Group, Nippon Paper Industries Co., Ltd., Asian Lignin Manufacturing Pvt. Ltd., Borregaard LignoTech and Changzhou Shanfeng Chemical Industry Company.
Grand View Research has segmented the global lignin market on the basis of application and region:
- Global Lignin Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
- Kraft lignin
- Organosolv lignin
- High purity lignin
- Global Lignin Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
- Global Lignin Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
- North America
- Latin America
- Asia Pacific
- North America
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
SOURCE Grand View Research, Inc.