The lignin market is expected to grow from US$ 500.73 million in 2022 to US$ 684.68 million by 2028; it is estimated to grow at a CAGR of 5.4% from 2022 to 2028.
MARKET ANALYSIS
Lignin is a significant by-product obtained from paper & pulp and bioethanol industries. Lignin has gained traction for a variety of applications such as concrete additives, plastics and polymers, dyes and pigments, water treatment chemicals, and fertilizers, owing to its superior binding and dispersing properties. In the plastic and polymers industry, it is significantly substituting petroleum-based products such as phenolic resins. Further, due to government initiatives pertaining to sustainability and circular economy, lignin is also becoming popular as a cost-efficient and sustainable alternative to various fossil fuel-based materials.
GROWTH DRIVERS AND CHALLENGES
The government regulations and initiatives to promote sustainable and bio-products across the globe has aided the market growth of lignin. Governments of various countries are adopting several initiatives to increase the awareness and development of lignin-based bio-materials. For instance, in 2020, European Commission transitioned to a circular economy by adopting Circular Economy Action Plan to reduce the consumption of natural and non-renewable resources. The European Union imposed stringent regulations on the use of fertilizers and other agricultural chemicals, and water treatment chemicals due to their adverse environmental impacts. Moreover, these regulations are set to reduce greenhouse emissions and have compelled polymer manufacturing companies to increase investments in developing naturally derived raw materials. Rising awareness regarding greenhouse gas emissions has surged the demand for bio-based polymer products. Thus, lignin is being used as an intermediate for manufacturing phenol, phenolic resins, and emulsifying agents. Moreover, the utilization of lignin in several end-use industries is another factor aiding the growth of lignin. The availability of substitutes for lignin poses a challenge to the lignin market. Polycarboxylate-based products are used as an alternative to lignin in production of concrete admixtures. Moreover, bioplastics can be produced from other alternative renewable biomass sources such as natural rubber, vegetable oils, and carbohydrates, among others, from agricultural residue and waste materials.
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Lignin Market: Strategic Insights
Market Size Value in US$ 500.73 million in 2022 Market Size Value by US$ 684.68 million by 2028 Growth rate CAGR of 5.4% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2021
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Lignin Market: Strategic Insights
| Market Size Value in | US$ 500.73 million in 2022 |
| Market Size Value by | US$ 684.68 million by 2028 |
| Growth rate | CAGR of 5.4% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
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REPORT SEGMENTATION AND SCOPE
The "Global Lignin Market Analysis to 2030" is a specialized and in-depth study with a major focus on the global market trends and growth opportunities. The report aims to provide an overview of the global market with detailed market segmentation by type, form, application, and geography. The global lignin market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of lignin worldwide along with their demand in major regions and countries. In addition, the report provides the qualitative assessment of various factors affecting the lignin market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in the lignin market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative opportunities that would, in turn, aid in identifying the major revenue pockets.
Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global lignin market, which helps understand the entire supply chain and various factors affecting the market growth.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
SEGMENTAL ANALYSIS
The global lignin market is segmented on the basis of type, form, and application. Based on type, the lignin market is segmented as, lignosulfonates, kraft lignin, high purity lignin, and others. On the basis of form, the market is classified as, solid, and liquid. The lignin market is categorized on the basis of application into, concrete additives, plastics and polymers, bitumen, water treatment, dyes and pigments, activated carbon, carbon fiber, and others. Based on type, the lignosulfonates type accounted for a significant share which can be attributed to its popularity across the globe and wide availability. Lignosulphonates, also known as sulfonated lignin, are produced as a by-product from the production of wood pulp using sulfite pulping. Kraft lignin is an industrial lignin. It is obtained from kraft pulp and composed of abundant hydroxyl groups. The others segment includes soda lignin and hydrolysis lignin. Soda lignin is made from the soda pulping process and is sulfur-free with higher purity. Based on form, solid segment accounted for a major share owing to high manufacturing rate of powdered lignin. Liquid lignin has a smaller particle size and can be easily blended in various applications, including animal feed, water treatment, and others, making it highly effective. The demand for lignin for concrete additives segment is expected to grow significantly over the coming years owing to various factors such as rising renovation and infrastructure development activities. Lignin is used in plastics and polymer application to replace fossil fuel-based resins. The demand for lignin in manufacturing of bitumen has surged owing to increasing demand to replace fossil-based raw materials to natural resources. In water treatment projects, lignin is used as a dispersant, which helps prevent the agglomeration of undissolved suspended particles, thus minimizing or eliminating such unwanted effects during water treatment. In dyes and pigment applications, lignin is used as a dispersing agent or a combination of dispersing agents and binders for manufacturing pigment masterbatches. The others segment of application is sub-segmented into carbon fibers, leather tanning, food and beverages, ceramics and refractories, and plasterboards.
REGIONAL ANALYSIS
The report provides a detailed overview of the global lignin market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. Europe accounted for a significant share of the market and valued at more than US$ 150.00 million in 2022 and estimated to reach approximately US$ 200.00 million in 2028. The construction industry is a major industry in Europe as it contributed significantly to the GDPs of many European countries, including Germany, the UK, and Italy. The admixture of biopolymers, particularly lignin, led to cement composites characterized by more remarkable plasticity; hence, alumina-lignin material is the most preferred and suitable for application as a cement mortar admixture in the construction sector. North America is also expected to witness considerable growth valued at approximately US$ 100.00 million in 2022, attributed to the growing adoption of expansion strategies by the end-use industries that need lignosulfonate-based concrete admixture in order to fulfil the rising demand for non-corrosive water-reducing admixtures in the construction industry.
INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES
The report provides a detailed overview of the global lignin market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America.
- In April, 2023, Ahlstrom introduced a new range of renewable and sustainable lignin-based filtration for automotive applications.
- In February, 2023, Stora Enso Oyj and Valmet collaborated to develop next-generation lignin product and process development.
IMPACT OF COVID/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION
The report provides a detailed overview of the global lignin market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. Industries such as construction, plastics and polymers, water treatment, and dyes and pigments have been the major consumers of lignin. In 2020, these industries had to slow down their operations due to disruptions in the value chain caused by the shutdown of national and international boundaries. Moreover, lockdowns imposed by different countries hampered the ability of industries to maintain inventory levels in the same year. The pandemic also wreaked havoc on the pulp and paper industry. The shortage of manpower resulted in the deceleration of lignin production and distribution operations. Additionally, government restrictions and other COVID-19 precautions reduced the production capacities of stakeholders in the lignin ecosystem. In 2021, the global marketplace began recovering from the losses incurred in 2020 as governments of different countries announced relaxations in social restrictions. Further, expanding production capacities in the chemicals & materials industry in different regions of the world resulted in a rise in demand for lignin in 2021.
COMPETITIVE LANDSCAPE AND KEY COMPANIES
Some of the key players operating in the lignin market include, Nippon Paper Industries Co Ltd, Borregaard ASA, Burgo Group SpA, Domsjo Fabriker AB, Sappi Ltd, Stora Enso Oyj, Suzano SA, The Dallas Group of America Inc, Tokyo Chemical Industry Co Ltd, West Fraser Timber Co Ltd, Tembec Inc, Domtar Corporation, and LignoTech Florida LLC, among others.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Form, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Based on the type, the lignosulfonates segment accounted for the largest revenue share. Lignosulfonates are used in a wide array of industrial applications, including building and construction, water reduction, soil stabilization, ceramic application, and pellet binding, among others. The growing construction and infrastructure development activities are increasing the application of concrete mixture, thereby boosting the demand for lignosulphonates.
The adoption of lignin as raw material for production of carbon fiber is expected to provide lucrative growth opportunities to the global lignin market during the forecast period.
The major players operating in the global lignin market are Suzano SA, Domsjo Fabriker AB, Burgo Group SpA, Sappi Ltd, and Nippon Paper Industries Co Ltd, among others.
Based on application, the lignin market for carbon fiber segment is the fastest-growing. Lignin has gained popularity in manufacturing of carbon fiber owing to its beneficial properties such as bio-renewability, low cost, and high carbon content.
The growing demand of lignin from several end-use industries influences the demand for lignin. Moreover, government regulations and initiatives to promote sustainable and bio-products is also a key driving factors for the lignin market.
Europe market dominated the lignin market and continue to be the largest segment by 2028. The construction industry is a major industry in Europe as it contributed significantly to the GDPs of many European countries, including Germany, the UK, and Italy. The growing use of lignin in the automotive, energy, construction, and other end-use industries is expected to propel the growth of the lignin market across the region.
The List of Companies - Lignin Market
- Nippon Paper Industries Co Ltd
- Borregaard ASA
- Burgo Group SpA
- Domsjo Fabriker AB
- Sappi Ltd
- Stora Enso Oyj
- Suzano SA
- The Dallas Group of America Inc
- Tokyo Chemical Industry Co Ltd
- West Fraser Timber Co Ltd
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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