PUBLISHER: Grand View Research | PRODUCT CODE: 1268775
PUBLISHER: Grand View Research | PRODUCT CODE: 1268775
The global lignin market size is expected to reach USD 1.22 billion by 2030 and expand at a CAGR of 2.6% from 2023 to 2030, according to a new report by Grand View Research, Inc. The product is widely utilized in the production of macromolecules used in the development of bitumen, biofuels, and bio-refinery catalysts. This factor is likely to support market growth. Growing demand for concrete admixtures and adhesives and binders coupled with increasing investments in infrastructure development is expected to fuel market growth.
Lignin is a complex polymer of aromatic alcohols which is derived from wood and is an integral part of the secondary cell walls of trees in the form of timber and lumber. Global timber harvest has increased by 60% over the last four decades and is anticipated to continue to grow in the near future. However, the market is likely to grow at a steady pace owing to the presence of a stringent regulatory framework in terms of deforestation.
In certain cases, lignin manufacturing companies form direct alliances and strategic partnerships with application industries. Lignin is extensively used as a precursor in the manufacture of aromatics and macromolecules. Lignin-containing aromatics and macromolecules are further used in a wide range of end-uses including dust control, animal feed, concrete admixtures, dispersants, binders, and adhesives.
Ligno-sulphonates are water-soluble polymers, majorly used as plasticizers for manufacturing cement and concrete on account of maintaining the flow ability of the mixture and as grinding aids in the mill. Other applications of ligno-sulphonates include plasterboard production, drilling fluid, carbon black, dyes, and pesticides. Concrete production growth in the U.S., China, and India in light of the improvement in domestic infrastructure is expected to increase the importance of ligno-sulphonates over the forecast period.
Companies including Domtar Corp, Asia Lignin, and Dallas procure raw materials from the above-mentioned companies to manufacture various grades of lignin. The finished products are then supplied to application industries through various distribution channels including vendors, wholesalers and distributors.