Demand for Lignin Market to Reach a Valuation of US$ 1.6 Bn by 2030

Lignin, which is the second most abundant renewable biopolymer found in nature has gained traction over the years as a bio-based alternative for petroleum-based raw materials. It is primarily used in the synthesis of Vanillin, Carbon Fiber, Phenol, and BTX. Besides, elevating consumption of lignin in oil well drilling fluids, concrete, and agriculture chemicals is set to drive the global lignin market over the forecast period.

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Global lignin market is forecast to reflect sluggish growth under 3% during the forecast period. Lignosulphonates among all products of lignin are well-positioned to continue their reign throughout the forecasted timeframe, with close to three fourth of the overall lignin consumption by 2029, reveals Fact.MR in a recently published report on global lignin market. As per the report, global lignin market is forecast to surpass US$ 900 Mn by 2029.

lignin market analysis by product type

Key Takeaways of Global Lignin Market

  • Macromolecules segment among all applications of lignin is well positioned to continue dominating the demand pie with close to two third of the overall lignin consumption by 2029
  • Amongst lignin products, Lignosulphonates accounted for the largest market share in 2019, owing to numerous applications of Lignosulphonates in synthesis of Vanillin, and other petroleum aromatics

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  • Demand for Kraft lignin as a foam in fire extinguishers for making activated charcoal and other niche applications, is anticipated to increase by 1.5X times from 2019 to 2029
  • Europe is expected to maintain its reign in terms of demand, accounting for around one third of global lignin demand
  • North America is a matured market for lignin, and is anticipated to have moderate growth over the forecast period. Increased R&D for use of lignin in untapped applications is forecast to drive the lignin market in North America
  • East Asia is forecast to be the fastest growing region, growing at a CAGR of just over 4% in the long term forecast
  • Global lignin market is consolidated in nature, dominated mainly by Borregaard LignoTech, which nearly accounts for half of the overall market share

Key Segments of Lignin Market

Fact.MR’s study on the lignin market offers information divided into two-three segments – product type, application, and region. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories in the landscape.

Product Type
  • Lignosulfonate
  • Kraft Lignin
  • Others
  • Concrete Admixture
  • Animal Feed Binders
  • Dye Stuff
  • Others

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Manufacturers Leveraging Vertical Integration Strategies to Maintain Supremacy in Global Market

Lignin manufacturers around the world are shifting their areas of focus towards vertical integration to maintain high profit margins. Furthermore, increasing value chain integration has been creating an entrant barrier to new rivals. With the industry being highly competitive and consolidated, key players are working on strategic collaborations with end use industries for delivering highly specialized lignin-based products. For instance, key stakeholders such as Domtar Corporation has commercialized the manufacturing process of using lignin to form high grade engineered plastic by acquiring end use manufacturing firms. A similar approach has been implemented by other key players for increasing their market share.

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