Albany - New York, Oct. 28, 2015 (GLOBE NEWSWIRE) -- According to the report, the global lignosulfonates market was valued at US$ 670.2 Mn in 2014 and is anticipated to reach US$ 924 Mn in 2023, expanding at a CAGR of 3.7% from 2015 to 2023.
Lignosulfonates are highly commercialized form of lignin and sold in different forms such as calcium lignosulfonate, sodium lignosulfonate, and magnesium lignosulfonate. Benefits offered by these product forms make them appropriate for usage in various applications such as oil well additives, concrete admixture, animal feed binder, dust control, and others.
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Rising demand for high-quality pellets in animal feed coupled with reduced water usage in concrete applications is anticipated to propel demand for lignosulfonates in animal feed binder and concrete admixtures segments, respectively, during the next eight years. However, threat of application substitutes is expected to impede growth of the global lignosulfonates market during the forecast period. However, rising demand for oil well additives in the oil & gas industry in the Middle East is likely to offer promising opportunities for growth of the global lignosulfonates market from 2015 to 2023.
Europe accounted for more than 35% share of the global lignosulfonates market in 2014 due to convenience of raw materials coupled with high demand from the animal feed industry. Maturity of downstream industries in Europe is likely to reduce its dominance during the next eight years.
Asia Pacific is estimated to be the fastest-growing market during the forecast period due to high demand from downstream markets in the region. Demand for lignosulfonates in the region is projected to be chiefly boosted by rapid rise in consumption of lignosulfonates in China, India, and ASEAN. Growth in the construction industry is projected to propel demand for lignosulfonates in Asia Pacific in the next few years. Countries such as India, Indonesia, and other countries within the Indian subcontinent are expected to be major consumers of lignosulfonates during the forecast period.
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The Middle East & Africa is expected to witness considerable growth during the forecast period. Demand for modified lignosulfonates as a water-reducing chemical in the construction industry is projected to fuel demand for lignosulfonates in the region. Furthermore, demand from the oil & gas industry as oil well additives is anticipated to increase the current market size of lignosulfonates in OPEC. The lignosulfonates market in North America is anticipated to experience sluggish growth due to slow but steady recovery from the economic slowdown. Additionally, factors such as presence of better substitutes and modest growth in downstream industries are affecting growth of the lignosulfonates market in the region. The lignosulfonates market in Latin America is estimated to expand considerably during the next eight years chiefly due to growth in the construction industry.
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The global lignosulfonates market is moderately consolidated. Key players in the lignosulfonates market include Borregaard LignoTech, Tembec Inc., Sappi, Flambeau River Papers, NIPPON PAPER INDUSTRIES CO., LTD., Domsjö Fabriker AB, Burgo Group Spa, Green Agrochem, Shenyang Xingzhenghe Chemical Co., Ltd., and Qingdao Newworld Material Co., Ltd.
The Report Segments the Global lignosulfonates market as follows:
Lignosulfonates Market - Product Analysis
- Calcium Lignosulfonate
- Sodium Lignosulfonate
- Magnesium Lignosulfonate
Lignosulfonates Market - Application Analysis
- Oil Well Additives
- Concrete Admixture
- Animal Feed Binder
- Dust Control
- Others (Tiles & Bricks, etc.)
Lignosulfonates Market - Regional Analysis
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA
Other Related Market Research Reports:
1. Lignin Market is expected to reach US$ 985.5 Million in 2023
Transparency Market Research has published a new report titled "Lignin Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2023." According to the report, the global lignin market was valued at US$ 782.3 Million in 2014 and is anticipated to reach US$ 985.5 Million by 2023, expanding at a CAGR of 2.7% from 2015 to 2023. The global lignin market demand by volume stood at 1115.4 Kilo Tons in 2014.
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2. Lignosulfonate-based Concrete Admixtures Market - Asia Pacific, Latin America and Middle East Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023
According to the report, the lignosulfonate-based concrete admixtures market for Asia Pacific, Latin America, and the Middle East together was valued at US$ 98.9 million in 2014 and is anticipated to reach US$143.1 million in 2023, expanding at a CAGR of 4.2% from 2015 to 2023.
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