Published by Coherent Market Insights
Posted on September 28, 2021
The global Lignin market was accounted for US$ 872.2 Mn in terms of value and by the end of 2019 and is expected to grow at a CAGR of 2.7% during the forecast period.
Key companies covered as a part of this study includes Borregaard LignoTech, Changzhou Shanfeng, Chemical Industry Co., Ltd., Domsjo Fabriker AB, Domtar Corporation, MeadWestvaco Corporation, Nippon Paper Industries Co., Ltd., Tembec, Inc., UPM Kymmene Corporation.
Lignin belong to the class of organic compound and are majorly found in the cell walls of the many plants which makes them rigid and woody. Lignin products are widely used in carbon fibers, vanillin, phenol, biofuels, bitumen, and bio-refinery catalysts. Moreover, they are used as a binder in the building &construction industry since they offer high strength to the cement.
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Robust growth in the construction industry is propelling the market growth of lignin. They are used in the cement and concrete admixtures as a binder for providing strength and stability to the structure. Lignin sulphonate is used in the development of road for dust control and surface stabilization. Moreover, growing investment in the development of infrastructure by the government along with the increasing population which is driving demand for infrastructure is again expected to foster the market growth of the lignin.
Market Opportunities
Lignin is gaining popularity as a potential substitute for crude oil which is again boosting its demand across various applications. This is projected to offer potential opportunities over the forecast period. Moreover, increasing use of low-purity grade lignin as a catalyst in the biorefineries is also escalating the market growth of the lignin. Furthermore, the easy availability of raw materials and low-cost production is further augmenting the market growth.
Market Trends
Increasing investment by key manufacture for developing bio-based carbon products is a growing trend in the market. For instance, in July 2019, Stora Enso has invested Euro 10 million to build a pilot facility for developing bio-based carbon materials based on lignin. Wood-based carbon can be used as a crucial component in batteries typically used in consumer electronics, the automotive industry, and large-scale energy storage systems.
Few Recent Developments
In July 2018, Domtar’s Biomaterials team and research partners invested in lignin development and the process of commercializing lignin-based applications by investing in Prisma Renewable Composites, which is developing advanced materials from lignin and other natural resources.
Go Through Our Trusted Clients List:
https://www.coherentmarketinsights.com/trusted-by
The post Lignin Market To Surpass US$ 1,000 Million By 2027 | Borregaard LignoTech, Changzhou Shanfeng appeared first on Gatorledger.
The global Lignin market was accounted for US$ 872.2 Mn in terms of value and by the end of 2019 and is expected to grow at a CAGR of 2.7% during the forecast period.
Key companies covered as a part of this study includes Borregaard LignoTech, Changzhou Shanfeng, Chemical Industry Co., Ltd., Domsjo Fabriker AB, Domtar Corporation, MeadWestvaco Corporation, Nippon Paper Industries Co., Ltd., Tembec, Inc., UPM Kymmene Corporation.
Lignin belong to the class of organic compound and are majorly found in the cell walls of the many plants which makes them rigid and woody. Lignin products are widely used in carbon fibers, vanillin, phenol, biofuels, bitumen, and bio-refinery catalysts. Moreover, they are used as a binder in the building &construction industry since they offer high strength to the cement.
Request a sample copy of the report to understand the structure of the complete report: https://www.coherentmarketinsights.com/insight/request-sample/4506
Robust growth in the construction industry is propelling the market growth of lignin. They are used in the cement and concrete admixtures as a binder for providing strength and stability to the structure. Lignin sulphonate is used in the development of road for dust control and surface stabilization. Moreover, growing investment in the development of infrastructure by the government along with the increasing population which is driving demand for infrastructure is again expected to foster the market growth of the lignin.
Market Opportunities
Lignin is gaining popularity as a potential substitute for crude oil which is again boosting its demand across various applications. This is projected to offer potential opportunities over the forecast period. Moreover, increasing use of low-purity grade lignin as a catalyst in the biorefineries is also escalating the market growth of the lignin. Furthermore, the easy availability of raw materials and low-cost production is further augmenting the market growth.
Market Trends
Increasing investment by key manufacture for developing bio-based carbon products is a growing trend in the market. For instance, in July 2019, Stora Enso has invested Euro 10 million to build a pilot facility for developing bio-based carbon materials based on lignin. Wood-based carbon can be used as a crucial component in batteries typically used in consumer electronics, the automotive industry, and large-scale energy storage systems.
Few Recent Developments
In July 2018, Domtar’s Biomaterials team and research partners invested in lignin development and the process of commercializing lignin-based applications by investing in Prisma Renewable Composites, which is developing advanced materials from lignin and other natural resources.
Go Through Our Trusted Clients List:
https://www.coherentmarketinsights.com/trusted-by
The post Lignin Market To Surpass US$ 1,000 Million By 2027 | Borregaard LignoTech, Changzhou Shanfeng appeared first on Gatorledger.
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