Lignin Products Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market for lignin products is expected to witness a CAGR of over 3. 5% during the forecast period. Major factors driving the market are the increased consumption of lignosulfonates in concrete admixtures and rising demand for animal feed.

New York, June 16, 2021 (GLOBE NEWSWIRE) -- announces the release of the report "Lignin Products Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" -
However, the existing gap between R&D activities and consumer products is likely to hinder the growth of the market studied.

- The concrete admixtures application segment dominated the market and is expected to grow during the forecast period due to the boost in construction activities in Europe and Asia-Pacific.
- Increasing popularity for substituting fossil-based raw materials is anticipated to provide numerous opportunities over the forecast period.
- Europe dominated the market with the largest consumption, but Asia-Pacific is likely to register the highest CAGR through the forecast period.

Key Market Trends
Concrete Additives to Dominate the Market

- Lignin and its products find significant usage in concrete additives, in the form of binders, dust suppressants, and others. It is used as binder for a glass wool building insulation. It improves the performance of asphalt binders.
- Lignin sulphonate has been historically used on roads, as a method for surface stabilization and dust control. Lignin-based products are safer and more economical than the petroleum and salt-based products that are typically applied to road surfaces. This is one of the major factors that are expected to boost the use of lignin-based products over the forecast period.
- Geographically, Europe leads the way in the consumption of lignin as concrete additive. However, Asia-Pacific is expected to register the fastest CAGR over the forecast period.
- The significant infrastructure projects that are underway in Asia-Pacific, are expected to boost the regional market.
- According to a study by the Institution of Civil Engineers (ICE), the global construction industry is expected to reach USD 8 trillion by 2030, primarily driven by China, India, and the United States.
- The growing construction industry is expected to increase the demand for various construction chemicals including concrete additives, which will eventually drive the market for lignin.

Asia-Pacific to Dominate the Market Growth

Europe has the highest share, accounting for more than 42% of the global market. However, Asia-Pacific is projected to register the fastest growth with a CAGR during the forecast period. With the surge in demand for concrete admixtures due to the growing construction activities in major countries, such as China, India, Japan, South Korea, and ASEAN countries, the consumption of lignosulfonates (used in concrete admixtures) is likely to increase during the forecast period. Furthermore, increasing usage of lignin products in various applications is anticipated to propel Asia-Pacific with the highest CAGR during the forecast period.

Competitive Landscape
The global lignin products market is consolidated and is dominated by one player, Borregaard LignoTech, which accounts for 40% of the entire production capacity, with numerous manufacturing plants across the world. The other prominent companies include Domsjö Fabriker (Aditya Birla Group), Nippon Paper Industries Co. Ltd, Ingevity, and Rayonier Advanced Materials, among others.

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