High Purity Lignin Market size to exceed $45Mn by 2030

High Purity Lignin Market size is anticipated to surpass USD 45 million by 2030, as per a new market research published by Global Market Insights Inc.
 

Growing consumption of meat will act as a key driver for the use of high purity lignin. The addition of lignocellulose in poultry diets can deliver potential benefits for bird health. In China, poultry meat consumption was recorded at over 20,000 tons in 2021 and will further increase given the evolution of consumer preferences. This changing dietary preference to fulfill protein requirements will lead to a rise in demand for animal feed, in turn increasing the consumption of high purity lignin.
 

Rising need for biofuel production of to drive kraft lignin industry trends

High purity lignin market from kraft lignin segment is expected to cross USD 22 million by 2030. This is credited to the increasing usage in the production of biofuels, cement additives, BTX, carbon fibers, phenolic resins, and other products. Emergence of more efficient methods of lignin degradation process will expand the use of the compound in biofuel applications. The need and awareness regarding biofuels is increasing due to benefits such as more positive economic impacts and improved fuel efficiency.
 

Browse key industry insights spread across 177 pages with 205 market data tables & 15 figures & charts from the report, “High Purity Lignin Market Analysis By Product Type (Kraft Lignin, Organosolv), Source (Hardwood, Softwood, Sugarcane Bagasse, Straw) Application (Binders & Adhesives, Phenol, Vanillin, Carbon Fibre, Activated Carbon), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/high-purity-lignin-market
 

Growing preference for bio-based products to fuel demand for hardwood lignin

Hardwood sourced segment was more than USD 7 million in 2021. The shift in trend towards the adoption of bio-based products over chemical-based alternatives is among the prominent market drivers. High purity lignin extracted from hardwood sources are suitable for use in products such as carbon fibers, phenolic resin, adhesives, and other applications. Growth in the construction sector across North America will foster the product demand over the coming years.
 

Lignin-based vanillin to gain traction with increasing consumption of baked products

High purity lignin market from vanillin segment is poised to depict a CAGR of around 7% through 2022-2030. There is an increasing application of lignin-based vanillin as a flavoring agent in the food & beverages sector. The robust demand for cookies, bread, cakes, and other baked products, is fostering the use of high-purity lignin in foods. Countries in Europe are among the major consumers of bakery products, which will influence the compound demand across the region.
 

Green building trends in North America to expedite industry forecast

North America high purity lignin market is projected to reach USD 15 million by 2030. There is an increasing focus towards the construction of green buildings in the region. This growing inclination toward sustainable buildings will encourage the use of high-purity lignin materials in the production of green carbon fiber and other bio-based materials suitable for infrastructure applications.
 

Collaborative development efforts by to bolster the competitive landscape

Some of the major companies operating in the high purity lignin industry include Suzano SA, Domtar Corporation, West Fraser, Metsa Group, Sigma Aldrich, Alberta Pacific, and Ingevity Corporation, among others.