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Global Lignin Market to Grow at a CAGR of 2% During 2021-2026, Aided by the Rising Demand for Biopolymers

According to a new report by EMR titled, ‘Global Lignin Market Report and Forecast 2021-2026’, the market attained a value of about USD 974 million in 2020. The industry is further expected to grow at a CAGR of 2% in the forecast period of 2021-2026 to reach a value of approximately USD 1097 million by 2026.

Europe holds a significant share of the lignin industry owing to the rising demand for biopolymers in the region. The introduction of various stringent policies by both the European Union (EU) and other governments to reduce carbon emissions is increasing the demand for lignin in various industries such as chemicals, which is propelling the market growth. Apart from this, the Asia Pacific region is expected to witness rapid growth owing to the growing production of lignin in the region. Moreover, the rapid growth of the construction industry in India, China, Japan, and Indonesia is increasing the demand for lignin as a concrete additive. As countries such as India and China are some of the leading manufacturing hubs, lignin is deployed as a substitute for various petroleum-based products in various industries, which is fuelling the market growth in the region, hence contributing to the overall lignin industry.

Domtar Corporation (NYSE: UFS), one of the leading companies in the market, invested in Prisma Renewable Composites, which is an initiative to aid in lignin development and commercialisation of lignin-based applications owing to its sustainable and biodegradable properties in July 2018. The investment would aid in the production of engineered plastic components such as acrylonitrile butadiene using biodegradable substitutes to petroleum and other fossil fuel-based products. The company uses the latest extruding equipment to produce commercial-grade lignin in dried, compounded, and altered lignin granules, pallets, and lignin-polymer blends. The company also installed a demonstration plant at a mill in Ontario to showcase lignin pellets as an alternative to plastics, chemicals, and various industrial products. Such initiatives to expand the research activities of lignin are expected to propel the market growth.

Market Analysis by Product, Application, and Region:

  • The market, on the basis of product, can be divided into ligno-sulphonates, kraft lignin, and organosolv lignin, among others.
  • Based on applications, the industry can be divided into macromolecules and aromatic.
  • The regional markets for lignin include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The use of lignin as biomass owing to the rising demand for clean energy is propelling the market growth.
  • The market growth is being driven by the introduction of new technologies to effectively extract lignin while increasing its marketability. 
  • Increasing research activities to develop new conversion methods and increase the functionality of lignin is augmenting the industry growth.
  • The deployment of lignin in the production of renewable aromatic monomers is providing impetus to the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global lignin market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the products, applications, and regions of lignin.
  • It assesses the regional price trends for the (2016-2020) and (2021-2026) periods.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global market for lignin are Borregaard AS, Domtar Corporation, Aditya Birla Group, The Dallas Group of America, Nippon Paper Industries Co., Ltd., and The Lenzing Group, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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