Lignin Market Size, Impacted by COVID-19, to Reach US$ 810 Million in 2026, Says Stratview Research
RAIPUR, India, Oct. 6, 2021 /PRNewswire/ -- Stratview Research announces the launch of a new research report on Lignin Market by End-Use Industry (Construction, Agriculture, Animal Feed, and Others), by Product Type (Lignosulfonate, Kraft Lignin, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today's lignin market realities and future market possibilities for the forecast period of 2021 to 2026. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of low-hanging fruits available in the market as well as formulate growth strategies.
Lignin Market: Highlights
Lignin is one of the most abundantly available biopolymers on earth and has been attributed as the most sustainable bio-resource. Lignin was traditionally used as a fuel for burning. However, over the past few years, manufacturers are exploring new revenue streams for lignin across different industrial applications like construction, agriculture, and animal feeds. Lignin producers have realized significant number of commercialized as well as potential applications for different lignin-based materials including vanillin, carbon fiber, phenols, and biomaterials which can be further processed to be used as binders & adhesives, dispersants, aromatics, etc.
In the wake of the pandemic, the lignin market witnessed a decline of -1.3% in the year 2020. Different end-use industries have experienced different degrees of impact of the pandemic. For instance, the pandemic hit the construction industry hard, causing unimaginable disruption and losses for the stakeholders. Increased use of oil-based alternatives driven by low oil prices and reduced construction activities further resulted in the decline of lignin's demand in the construction industry.
Based on primary interview results coupled with the study of recovery trajectories of previous downturns, it is anticipated that the market will cross its 2019-sales figure in 2021 only, marking a consistent growth during the forecast period. Overall, the lignin market is likely to rebound at a promising CAGR of 3.1% during 2021-2026 to reach US$ 810 million in 2026.
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Based on the end-use industry, construction is expected to remain the largest segment of the market during the forecast period, owing to continuous growth in construction activities across the globe. In addition to that, increasing demand for lignin in concrete additives is further expected to boost the market growth during the study period.
Based on the product type, lignosulfonate is expected to remain the dominant product type in the market during the forecast period. This is primarily due to a wide range of industrial applications for lignosulfonates, such as concrete admixture, dust suppressant and control, animal feed binders, crop protection, and fertilizer production.
In terms of regions, Europe is expected to remain the largest market for lignin during the forecast period. The presence of large number of lignin producers, such as Domsjo Fabriker, Stora Enso, and Borregaard, in Europe, is one of the major factors behind the dominance of the region. Asia-Pacific and North America are also likely to create sizeable opportunities in the coming five years, driven by an expected rebound in the construction industry and a strong expected economic rebound in the near future.
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The global lignin market is highly consolidated with the top four players (Borregaard, Ingevity, Domsjo Fabriker, and Sappi) capturing more than 70% share of the total market in 2020. Some of the key players in the lignin market are:
- The Borregaard Group
- Ingevity
- Sappi Limited
- Domtar Corporation
- Domsjo Fabriker (Part of Aditya Birla Group)
- Stora Enso
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
This report studies global lignin market and has segmented the market in three ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the three ways in which the market is segmented:
Lignin Market, by End-Use Industry
- Construction (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Agriculture (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Animal Feed (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Lignin Market, by Product Type
- Lignosulfonate (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Kraft Lignin (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Lignin Market, by Region
- North America (Country Analysis: USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, Italy, the UK, Russia, and Rest of Europe)
- Asia-Pacific (Country Analysis: China, India, Japan, and Rest of Asia-Pacific)
- Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Africa)
Stratview Research has several high value market reports in the chemicals and materials industry. Please refer to the following link to browse through our reports:
https://www.stratviewresearch.com/market-reports/Chemicals-Materials.html
About Stratview Research
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