The new report by Expert Market Research titled, ‘Global Lignin Market Analysis, Growth, Size, Share, Report and Forecast 2023-2028’, gives an in-depth analysis of the global lignin market, assessing the market based on its segments like Product, application, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 2%
The increased need for energy sources as a result of growing worries about global climate change is assisting the expansion of the lignin industry. Because lignin is one among the foremost abundant organic compounds, it’s going to be used as biomass to get energy within the chemical sector, boosting market growth.
Furthermore, the arrival of innovative technologies for using lignin as an energy source while successfully separating woody biomass to reinforce the marketability of wood production is probably going to spice up market growth.
Lignin Industry Definition and Major Segments
Lignin is an organic polymer that, thanks to its stiffness and sturdiness, is vital within the construction of the cell membrane in woods and barks. Coniferyl alcohol, sinapyl alcohol, and paracoumaryl alcohol are common constituents. Lignin may be a natural fiber that’s utilized in the papermaking process.
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Based on Product, the market can be broadly divided into:
- Kraft Lignin
- Organosolv Lignin
The Lignin market can be broadly divided based on its application segments into:
On the Basis of region, the market can be divided into:
- North America
- The Asia Pacific
- Latin America
- Middle East and Africa
Lignin Market Trends
Increasing research operations to make new conversion techniques for the separation of cellulose, lignin, and hemicellulose, among others, to enhance component functionality is considerably contributing to the lignin industry’s growth. Lignin could also be converted to energy carriers like syngas and utilized in high molecular mass applications like carbon fibres, wood adhesives, and polyurethane foams, which has catalysed market expansion.
Furthermore, lignin is widely employed within the creation of polymer building blocks also as monomers like xylene, benzene, and toluene, among others, boosting the lignin industry’s growth. As lignin contains phenylpropanoids, it’s used as a substitute for petroleum-based derivatives within the production of products like plastics, drugs, and paints, among others, which can provide further impetus to the market growth of lignin.
Key Market Players
The major players in the market are Borregaard AS, Domtar Corporation, Aditya Birla Group, The Dallas Group of America, Nippon Paper Industries Co., Ltd., The Lenzing Group and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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