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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.
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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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