Lignin Market to exceed $1.4 Billion by 2032

Lignin market value is expected to reach USD 1.4 billion revenue by 2032, as per a recent research report by Global Market Insights, Inc.
 

Expanding textile sector across European countries would open new growth avenues for the lignin industry over the forecast period. Lignin is used as a dye dispersant in the textile sector, while its chemically modified form is used as a thickener, flocculant, and complexing agent in adhesives and paints & coatings products. To maintain competitiveness, companies in the textile sector are moving towards developing new fabric materials and products. Emerging use of lignin-derived materials as dispersing agents for soils, cement mixes, oil drilling muds, laundry or cleaning detergent compounds, leather tanning, and insecticides & pesticides would further propel the market size.
 

 Wide-ranging applications of lignin carbon aerogels (LCAs)

Lignin market size from the softwood raw material segment is estimated to record a 6% CAGR between 2023 to 2032. Softwood lignin is made from trees such as pine, larch, spruce, etc. that grow more quickly than hardwood trees and is also a cheaper alternative. Efforts towards developing sustainable and advanced renewable materials for energy applications could amplify the use of softwood lignin for making porous carbon materials.
 

As an abundant and renewable aromatic biopolymer, lignin contains high carbon content and chemical functionality for crosslinking, making it a promising alternative for eco-friendly carbon aerogel production. Studies suggest that carbon aerogels can be produced using an industrial softwood kraft lignin isolated from renewable forest resources. Specific characteristics of softwood will help speed up the demand for lignin production.
 

Browse key industry insights spread across 323 pages with 264 market data tables & 62 figures & charts from the report, “Lignin Market By Raw Material (Hardwood, Softwood, Straw, Sugarcane Bagasse, Corn Stover, Spent Liquor), By Product (Kraft Lignin, Lignosulphonates, Low Purity Lignin, Organosolv Lignin), By Application (Aromatics, Macromolecules), By Downstream Potential (Vanillin, Carbon Fiber, Phenol, BTX, Activated Carbon, Phenolic Resins, Adhesives, Epoxy resins), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2023-2032”, in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/lignin-market
 

Expanding construction sector to boost lignosulphonates demand

Lignin market share from the lignosulphonates segment is anticipated to reach over USD 215 Million by 2032. Lignosulphonates are gaining considerable significance in the construction sector as it works as retarding and super plasticizer. New developments in the building and construction sectors across countries like the U.S., China, and India are expected to fuel the demand for lignosulfonates for use in concrete mixtures. The growing use of sulfur-free lignin and an increase in awareness and demand for bio-based goods will drive the market growth.
 

Use of aromatic lignin in the chemical sector

Lignin market valuation from the aromatic application is estimated to reach over USD 775 million by 2032. Aromatic lignin is used in the chemical sector as a substitute for phenol as it is available economically as a by-product of the pulping process. It also finds applications in industries such as phenolic resins, surfactants, adhesives, and epoxy resins. It is used to manufacture phenol-based compounds which are utilized in the cosmetic and skin care industries for manufacturing sunscreen, skin lightening, and hair coloring products. The increase in demand for skin care products is expected to drive the market.
 

Expanding capacities of biorefineries across Europe

Europe lignin market revenue is forecasted to be valued at over USD 520 million by 2032. The rising demand for dust collectors to reduce air pollution in countries like Germany and France during construction projects will positively influence the overall industry growth. Improving biotechnological extraction, and growing demand for biochemical feedstocks will enhance product production in the region.
 

Companies are also expanding their businesses through the development of lignin-based phenol, cleaning chemicals, animal feed, dye dispersants, vanillin, and micronutrients. For instance, in 2022, Stora Enso entered into a Joint Development Agreement with Northvolt to develop a sustainable battery that features anode produced using lignin-based hard carbon created from Nordic forest wood. The aim was to develop the first industrialized battery in the world that features anode sourced completely from European raw materials.
 

 New business agreements between lignin manufacturers and suppliers

The global lignin market is inclusive of leading manufacturers and suppliers like Stora Enso Oyj, Toray, Teijin, Sumitomo Bakelite Co., Ltd, Borregaard LignoTech, Domtar Corporation, Rayonier Advanced Materials, and Domsjo Fabriker AB (Aditya Birla). Some of these companies are expanding their business reach by means of inking deals with related firms. For instance, in 2020, UPM signed an agreement with Domtar Paper Company LLC to take over its total kraft lignin production in Plymouth Mill, USA.