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High Purity Lignin Market Size

Report ID: GMI5360
Published Date: Sep 2022
Report Format: PDF

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High Purity Lignin Market Size

High Purity Lignin Market size was at over USD 25 million in 2021 and is poised to depict a CAGR of more than 6% from 2022 to 2030. The growth is a result of the surge in construction activities in developed economies.

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High purity lignin is gaining popularity as a crucial chemical in the concrete admixture industry. Water reduction, enhanced strength, high durability, and decreased permeability are among its key attributes. Due to the rising disposable income and the thriving construction sector, the demand for high-purity lignin materials will increase substantially, especially in North America.

High Purity Lignin Market Report Attributes
Report Attribute	Details
Base Year:	2021
High Purity Lignin Market Size in 2021:	25 Mn (USD)
Forecast Period:	2022 to 2030
Forecast Period 2022 to 2030 CAGR:	6%
2030 Value Projection:	46 Mn (USD)
Historical Data for:	2017 to 2021
No. of Pages:	177
Tables, Charts & Figures:	220
Segments covered:	Product Type, Source, Application
Growth Drivers:	North America: Rapidly growing construction industry Asia Pacific: Increasing consumption of meat Asia Pacific: Expanding automobile sector in the region
Pitfalls & Challenges:	Lack of awareness among consumers

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Apart from being utilized as a valuable raw material in the chemical applications, lignin is adopted as an energy source in paper production. Unlike fossil petroleum, the chemical is emerging as a sustainable option since it is derived from shrubs and trees. The focus on incorporating natural products in manufacturing will provide lucrative opportunities for the growth of the high-purity lignin industry. However, there is a lack of awareness regarding lignin and its applications among many end users, which may adversely impact the industry outlook to some extent.

Authors: Kunal Ahuja, Sarita Bayas

Frequently Asked Questions (FAQ) :

The global market for high purity lignin attained a valuation of over USD 25 million in 2021 and is poised to depict a CAGR of more than 6% through 2022-2030, driven by increased construction activities in North America.

Organosolv product segment is set to be valued at over USD 18 million by 2030, driven by its increasing usage in the formulations of inks, paints, and varnishes.

Europe high purity lignin market is set to exhibit a growth rate of over 6.5% through 2022-2030, with the rising inclination toward high-purity lignin chemicals, phenols, vanillin, animal feed, and dispersants.

Suzano SA, Domtar Corporation, West Fraser, Stora Enso Oyj, Liquid Lignin Company, Sigma Aldrich, Alberta Pacific, Green Value S.A., and Ingevity Corporation are some of the key companies holding a major share in the market.