Lignin Products Market - Segmentation Analysis and Forecast by Technavio

According to the latest market study released by Technavio, the global lignin products market is expected to grow at a CAGR of more than 4% during the predicted period.

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Technavio has published a new report on the global lignin products market from 2017-2021. (Graphic:  ...

Technavio has published a new report on the global lignin products market from 2017-2021. (Graphic: Business Wire)

This research report titled ‘Global Lignin Products Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

Lignosulfonates constituted the largest product segment of lignin and accounted for a share of 76.26% in the global lignin products market in 2016. The growth in the application of sulfur-free lignin along with the increasing demand for and awareness regarding bio-based products in developed economies, such as Europe and North America, is likely to drive the demand for lignin products during the forecast period.

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Technavio’s analysts categorize the global lignin products market into three major segments by application. They are:

  • Macromolecules
  • Aromatics
  • Carbon material

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Global lignin products market for macromolecules

Lignin macromolecules are predominantly used as additives or polymer blends. The lignins are added in the polymer material as they act as UV degradation and thermo-oxidation stabilizers. Therefore, they are increasingly blended with polystyrene, polyethylene, polypropylene, and natural rubbers. The addition of lignin in the polystyrenes gives it rheological, mechanical, and morphological properties.

According to Shabnam Kumari Singh, a lead specialty chemicals research analyst from Technavio, “The growth in the polymer market is likely to boost the growth of the lignin products market in the coming years. Owing to its physical characteristics such as strength, clarity, and lightweight, the lignin-based polymer material is successfully replacing conventional materials, such as glass, wood, and metals, in many applications, such as automobile.”

Global lignin products market for aromatic compounds

Lignin is the most abundant natural aromatic resource. Lignin does not have a well-defined structure and has unique properties, such as lower oxygen content and highly aromatic nature compared with polysaccharides. This makes lignin a bio-polymer that can be converted into renewable chemical building blocks and related materials and fuels.

“BTX has large-scale application, and thus it has significant potential in chemical industries worldwide. Lignin-based BTX is similar to BTX obtained from petroleum, and hence it can be used as a replacement for BTX. The lignin-based aromatic compounds can further be used to manufacture various derivatives, such as cumene, styrene, adipic acid, caprolactam, cyclohexanone, and cyclohexane, which can be derived from benzene,” says Shabnam.

Global lignin products market for carbon material

Lignin contains 50%-60% carbon. It is used as a precursor for carbon materials. The applications of lignin in carbon materials include the manufacture of carbon fibers and activated carbon. In carbon materials, it is used in activated carbons as it is a great adsorbent of organic and inorganic materials. It is used in both the liquid and gaseous phases.

Moreover, lignin is used in the manufacture of carbon fiber. Carbon fibers are valuable composite materials that have properties, such as high strength, low density, and high stiffness, which make them ideal for use in automotive applications. The carbon fiber material is priced high due to its precursor polyacrylonitrile, which constitutes 50% of all production costs.

The top vendors highlighted by Technavio’s research analysts in this report are:

  • Borregaard LignoTech
  • Changzhou Shanfeng Chemical Industry
  • Domtar
  • GreenValue
  • Rayonier Advanced Materials

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