The global Lignin market is forecast to reach USD 1.10 Billion by 2027, according to a new report by Reports and Data. Increasing demand for natural feed additives in animal nutrition along with expanded usage in various end-use industries such as paints & adhesives, construction, refining, and pulp & packaging would promote growth in the industry. Lignin has gained attention due to the possible uses of vanillin, carbon fibers, phenol, and BTX. Due to its biological provenance, insecticides, pesticides, emulsifiers, and heavy metal sequestrate, it has been accepted for use in production. The growing use of lignin, as a primary constituent of cement and concrete additives, is also projected to play a critical role in market evolution to boost their quality and operational life. Rising technical developments and accelerated urbanization have prompted producers to develop high-quality concrete mixtures to mitigate rain & moisture loss and improve building durability that is expected to increase the market growth.
The product is widely used in the manufacture of macromolecules often used to produce catalysts for bitumen, biofuels, and bio-refinery. That factor is likely to support the growth of the market. Rising livestock production and growing demands for high-quality animal protein have increased the opportunities for natural and healthy animal feed. From an early stage, the product plays a crucial role in enhancing the animal diet and offers high fiber content to provide energy to fight infections.
Key participants include Borregaard LignoTech, Rayonier Advanced Materials, Domtar Corporation, Asia Lignin Manufacturing Pvt. Ltd., Northway Lignin Chemical, Green Value, Aditya Birla Group, Liquid Lignin Company LLC, Nippon Paper Industries Co., Ltd., and The Dallas Group of America, Inc. among others.
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Limited awareness among people and manufacturers of the characteristics and use of lignin products and a weak link between R&D facilities and manufacturers are also important factors of restraint for the global lignin market. In fact, on the world level, lignin goods are priced very low, and free trading is discouraged because shipping costs are higher than commodity prices.
The COVID-19 impact:
Covid-19 's spread has affected manufacturing and construction activities worldwide. Logistic limitations and reconsiderations of the raw material requirements are becoming a problem for producers. The producers have relied on derived demand as an intermediate commodity to rationalize production. The pandemic’s economic impact on companies and financial markets is also not favorable. Stock market volatility and decreasing global growth are anticipated, which will affect the market. Over the weeks, the sector has undergone a slowdown which will persist over the coming months. The Asia Pacific region was most affected by this pandemic, with China at the forefront of the epidemic. Most initiatives in multiple countries have changed to a temporary halt. Production and supply were put on hold, resulting in losses for manufacturers, dealers and consumers.
For the purpose of this report, Reports and Data have segmented into the global Lignin market on the basis of product, source, application, and region:
Product Outlook (Revenue, USD Million; 2017-2027)
Source Outlook (Revenue, USD Million; 2017-2027)
Application Outlook (Revenue, USD Million; 2017-2027)
Regional Outlook (Revenue, USD Million; 2017-2027)
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Key Insights offered in the report:
Business overview, product overview, significant market data, demand and supply ratio and overall industry chain analysis
The report encompasses different approaches and strategic business decisions undertaken by the key players of the market to gain a robust a footing
It describes in detail the production value, marketing strategies, distributors, and factors influencing the growth of the market
Strategic business expansion plans and alliances of the key players
Comprehensive analysis of the present trends and emerging trends of the market
Analysis and identification of the factors influencing the Lignin market such as drivers, restraints, opportunities, and trends.
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