The global Lignin market is predicted to witness a compound annual growth rate of 2.06% during the forecast period to reach a total market size of US$1021.57 million by 2023, increasing from US$904.04 million in 2017.
Lignin is the second most abundant plant derived polymer in the world and is widely used in three major applications, namely an additive, a dispersant and a binder. The global lignin market is expected to witness a boost in sales during the next five years due to increase in robust growth in animal feed additives market.
Also, wider commercial application in animal feed additives, agriculture, industrial cleaners and water treatment, oil field chemicals, industrial binder, battery additives and several other sectors are likely to provide a further push to the sales during the coming years.
Rising awareness regarding air pollution, organic materials, rising prevalence of respiratory disorders, and other health hazards are predicted to drive the growth of the global lignin market over the forecast period. The lack of awareness among consumers about lignin products is expected to be the major challenge for the growth of the lignin market.
Major industry players profiled as part of the report are Domtar Corporation, Stora Enso, GreenValue SA and LignoTech Florida LLC among others.
The Lignin market has been analysed through following segments:
- Kraft lignin
- Sulphur free lignin
- Concrete Additives
- Animal Feeds
- North America
- United States
- Asia Pacific
- Middle East and Africa
- Saudi Arabia
- South America
- Domtar Corporation
- LignoTech Florida LLC
- Stora Enso
- West Fraser
- Weyerhaeuser Company
- GreenValue SA
- Domsj Fabriker
- Changzhou Shanfeng Chemical Industry Co., Ltd.
- NIPPON PAPER INDUSTRIES CO., LTD.
- The Dallas Group of America
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