San Francisco, Oct. 7, 2015 (GLOBE NEWSWIRE) -- Global lignin market size is expected to exceed USD 6 billion by 2022, growing at 4.9% from 2015 to 2022. Rising demand for animal feed and potential as a feedstock substitute to crude oil are expected to drive lignin market demand over the forecast period.
Lignin has been gaining popularity owing to the potential applications including vanillin, carbon fibers, phenol and BTX. Owing to its biological origin, it has been approved for use in production of insecticides, pesticides, emulsifier and heavy metal sequestrate. Increasing lignin use, as a key constituent in cement and concrete admixtures, to improve their quality and operational life is also expected to play a critical role in demand evolution.
Strong R&D focus by industry participants, to explore and commercialize lignin downstream applications is likely to offer opportunities over the next seven years.
The report "Lignin Market By Product (Low-Purity, Ligno-Sulphonates, Kraft Lignin), By Application (Macromolecules, Aromatics) And Segment Forecasts To 2022" is available now to Radiant Insights customers and can also be purchased directly at http://www.radiantinsights.com/research/lignin-market
Key report insights suggest:
- Global lignin market demand was estimated at USD 4,222.1 million in 2014 and is expected to reach USD 6,190.5 million by 2022, growing at 4.9% from 2015 to 2022.
- Low-purity grade lignin accounted for over 85% of overall global volume in 2014, and is expected to witness strong demand over the forecast period, due to high usage as a catalyst in biorefineries.
- Macromolecules applications dominated the global lignin volumes in 2014, with over 69% of total share; demand for these applications is expected to be drive by the growing market for carbon fibers and polyurethane foams.
- While aromatic applications are relatively at a nascent stage, they account for over 52% of global revenues, owing to the use of the more expensive high-purity lignin. Volume demand for these applications is expected to grow at a CAGR of 5.7% over the forecast period.
- Europe Lignin Market dominated the industry in 2014, accounting for over 38% of global volume. Favorable regulatory framework promoting lignin use in commercial applications is expected to drive demand in the region.
- Asia Pacific is expected to witness significant gains over the forecast period driven by high infrastructure spending and strong demand for automotive and consumer electronics. Easy raw material supply and low production costs are expected to strengthen lignin manufacturing in the region over the forecast period.
- The global Lignin Market is characterized by integration at various levels of the value chain. Numerous participants such as including Borregaard, MWV, and Green Value are integrated across the value chain. These companies are engaged in lignin production which is used as captive consumption for manufacturing a range of products including aromatics, binders and dispersing agents.
This report from Radiant Insights segments the lignin market on the basis of products, applications and region:
Global Lignin Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
- Low-purity lignin
- Kraft lignin
Global Lignin Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 • 2022)
See More Reports of This Category by Radiant Insights: www.radiantinsights.com/catalog/chemicals
Global Lignin Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
• North America
• Latin America
• Asia Pacific
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