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One of the key drivers for the lignin market is its application in a wide range of low volume, niche applications. Solubility in water is an important requirement of lignin in these applications. In addition to this, lignin can be used in a wide range of applications such as in the manufacture of vanillin, animal feed, dye dispersants, micronutrients, resins, and cleaning chemicals. There is an increasing demand for lignin in developing countries such as China due to the country’s expanding industrial base. Low awareness about lignin among manufacturers is the key restraint to this market.
Moreover, there is a weak link between the industry and research institutes which results in the low exposure of manufacturers to the developments of lignin in different applications. Besides, the technology used for extraction and application of lignin is still at a very primary stage. Thus, this is another factor which hampers the lignin market.
With present issues of environmental pollution and increasing awareness of limited resources, there is growing opportunity in the use of lignin as a substitute for fossil-based raw materials which are used in the manufacture of a wide range of products such as plastics, chemical products, and carbon fibers. In addition, lignin exhibits varied characteristics based on its method of extraction. Ongoing research in this field is increasing the application scope of lignin in the market.
Some of the market players in this market include Borregaard Lignotech, Westvaco, Tembec, Lignol Energy Corporation, Guangdong Jiangmen Ganhua Co. Ltd., Asian Lignin Manufacturing Pvt. Ltd., and Changzhou Shanfeng Chemical Industry Co. Ltd. among others.
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This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
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