Sunday, 14 April 2024
Monday, 10 Apr 2023 12:00 am

Europe and Americas Lignin Market is expected to reach US$ 439,701.82 thousand by 2028

Europe and Americas Lignin Market is growing at a CAGR of 5.2% to reach US$ 439,701.82 thousand by 2028 from US$ 325,222.05 thousand in 2022 by Type, Form, and Application.

By The Insight Partners

Wide Application Scope of Lignin Drives Europe and Americas Lignin Market Growth

According to our latest market study on "Europe and Americas Lignin Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type, Form, and Application,” the Europe and Americas lignin market size was valued at US$ 325,222.05 thousand in 2022 and is expected to reach US$ 439,701.82 thousand by 2028; it is expected to record a CAGR of 5.2% from 2022 to 2028. The report highlights key factors governing the growth and prominent players and their progress in the market.

Lignin is widely available as a by-product of the paper & pulp industry. It is receiving immense traction for a variety of applications such as concrete additives, plastics and polymers, dyes and pigments, water treatment chemicals, and fertilizers, owing to its superior binding and dispersing properties. In the plastic & polymers industry, lignin is significantly substituting petroleum-based products such as phenolic resins. Further, lignin is also becoming popular as a low-cost and sustainable alternative to various fossil fuel-based resins. As a result, the demand for environment-friendly alternatives to fossil-fuel-based products is rising. Thus, a wide application scope of lignin is driving the growth of the Europe and Americas lignin market.

Lignin is used in building materials and construction as a set retardant, water-reducing admixture, and grinding agent in cement production. Lignin is used as a cement replacement material. It strengthens concrete by increasing its compressive strength; thus, its usage decreases carbon dioxide emissions during cement production and reduces the risk of depletion of natural material used for concrete production. A major advantage of using lignin is making the process of concrete greener. Lignin is used to manufacture sustainable, bio-based plywood in order to reduce the environmental impacts of the furniture industry. Further, lignin is used as a feed and fertilizer pelletizing agent. It is also used as a natural functional additive in animal feed. Recently, purified Alcell lignin can exhibit prebiotic effects in chickens, favoring the growth of good bacteria and improving the morphological structures of the intestines, as measured by increased villi height and goblet cell number. Thus, rising applications of lignin in a wide range of end-use industries are significantly driving the Europe and Americas lignin market.

Nippon Paper Industries Co Ltd, Borregaard ASA, Burgo Group SpA, Domsjo Fabriker AB, Sappi Ltd, Stora Enso Oyj, Suzano SA, The Dallas Group of America Inc, Tokyo Chemical Industry Co Ltd, and West Fraser Timber Co Ltd are a few of the key players operating in the Europe and Americas lignin market.

Impact of COVID-19 Pandemic on Europe and Americas Lignin Market Growth

Many industries, including the chemicals & material industry, faced unprecedented challenges after the onset of the COVID-19 outbreak. Lockdowns, border restrictions, travel bans, and shutdown of manufacturing units hampered the production and distribution of many small as well as large-scale companies, which reduced their profitability. Governments of countries such as the US, Canada, Brazil, Germany, France, and the UK announced trade restrictions that disrupted supply chains globally. This led to an increase in labor costs, and high commodity demands resulted in inflation in the prices of materials required in the construction, plastic & polymers, and animal feed industries in 2020. These factors negatively impacted the lignin demand in Europe, North America, and South & Central America. However, plastic production increased during the COVID-19 pandemic to cater to the high demand for products made from plastics such as masks, gloves, and other protective equipment. In the plastic production process, lignin acts as a bio-based raw material. Thus, the plastic industry's growth had a positive impact on the Europe and Americas lignin market. 

Lignin is also used as a major raw material in carbon fiber production. Thus, the slowdown in the growth of the end-use industries that use carbon fiber resulted in a negative impact on the lignin market. For instance, according to the US International Trade Commission (USITC), the automotive industry was highly vulnerable, and vehicle sales in the US decreased by 15% from 2019 to 2020. This factor had an adverse impact on the automotive industry in the US, which decreased the demand for lignin in the country. However, after a successful COVID-19 vaccination drive, the US government eased the restrictions on manufacturing activities, which helped the lignin manufacturers to overcome the demand and supply gap.

The "Europe and Americas Lignin Market Analysis to 2028" is a specialized and in-depth study of the chemicals & materials industry, focusing on the Europe and Americas lignin market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The Europe and Americas lignin market is segmented on the basis of type, form, and application. By type, the market is segmented into lignosulfonates, kraft lignin, high purity lignin, and others. Based on form, the market is divided into solid and liquid. Based on application, the Europe and Americas lignin market is categorized into concrete additives, plastics and polymers, bitumen, water treatment, dyes and pigments, activated carbon, carbon fiber, and others. In 2022, the concrete additives segment dominated the Europe and Americas lignin market, and the carbon fiber segment is expected to register the highest CAGR during the forecast period.

Contact Us
Contact Us: The Insight Partners 
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com

The Insight Partners :    https://www.theinsightpartners.com

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Smarter Decisions with Smart News

Smart Market News is committed to getting its readers the latest updates and insights on industries that help in making “smarter” business decisions. With insights and inputs from corporate decision makers, we bring you the stories of adopting innovative solutions and strategies that have been changing the world. Our editorial insights on products, solutions, companies, and adoption of best practices not only help in understanding the markets better, but also prove to be a complete package for your information needs.

Subscribe to our newsletter
Get the latest in your inbox weekly Sign up for the fully charged newsletter
© The News and Media Division of The Insight Partners 2024 | All Rights Reserved | Privacy Policy