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Lignin Market

On this note, a recent study by Global Market Insights Inc., states that the global lignin market size is poised to record USD 1,140 million in valuation by 2027.<br><br>

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Lignin Market

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  1. Lignin Market – Detailed Analysis of Current Industry Figures with Forecasts Growth By 2027

  2. Global Market Scenario of Lignin Industry A recent study by Global Market Insights Inc., states that the global lignin market size is poised to record USD 1,140 million in valuation by 2027. Lignin market is expected to be significantly bolstered over the forthcoming years, driven by growing emphasis on development of biofuels for countering the emission regulations & rising crude oil prices. The increasing consumer inclination towards sustainability has stirred the higher penetration of the product as a renewable replacement for conventional petroleum-based raw materials in the industrial sector. The spiraling number of research & development activities for realizing new applications and increasing adoption as a raw material for polymers will positively anchor the product penetration. Increasing number of competitive strategies initiated by leading industry participants, including BorregaardLignoTech, Nippon Paper, and Aditya Birla Domsjo, is another impact rendering trend for the market expansion.

  3. Continue:- For instance, in December 2020, UPM, a Finland-based forest industry frontrunner, inked an agreement with Domtar Paper Company LLC, to acquire the total annual production of kraft lignin of the latter’s Plymouth Mill in North Carolina (NC). This partnership helped the firm to extend its role in the proliferating lignin business as well as its different application segments. Increasing usage of kraft lignin in paper mills The annual revenue of kraft lignin market had crossed USD 12 million in 2020 and will depict substantial growth in the projected timeline. This is mainly ascribed to their soaring need in the production of several products, comprising transportation fuels, adhesives, bioplastics, and carbon fibers. Upon incineration, these products act as energy sources in paper mills and are employed as potential raw materials for producing solid biofuel with high energy density and low ash content.

  4. Request for sample copy of this research report@ https://www.gminsights.com/request-sample/detail/181

  5. 360° Industry Analysis Request for customization:https://www.gminsights.com/roc/181 What makes lignin a preferred choice in aromatics? Aromatic applications are expected to record significant lignin demand, whilst striking a rate of more than 6% through 2027. The growth is mainly driven by swelling adoption of aromatics in construction materials, adhesives, and polyester products. Factors such as the rising shortage of fossil fuels, including coal and crude oil, that are employed as conventional feedstocks in aromatic production, have encouraged manufacturers to take up lignin as a sustainable alternative. A look at the regional market trends Asia Pacific market share reached USD 165 million in 2020 and will rise with the proliferating need for animal feed products in the region. This can be attributed to the growing meat consumption, rising focus on enhancing protein intake, and changing dietary habits. As the product improves the growth of beneficial bacteria and enhances the morphology of the intestine, it largely serves as an effective prebiotic in animal feed.

  6. Competitive Analysis: North America and Europe emerged as substantial consumers of lignin across the globe and collectively brought an industry revenue share of over 70% in 2020. The market growth in North America is ascribed to the increasing installation of dust collection systems considering the presence of drought & windy conditions in the region. On the other hand, the swelling adoption of dispersants across the adhesives and paint & coating sectors is anticipated to favor the product demand in the European territory. Impact of the COVID-19 crisis The COVID-19 pandemic contributed to significant turmoil in the lignin industry, as it brought plummeted sales. This is on account of the unprecedented challenges posed on industries like aromatics, considering the dearth of workforce and raw materials. However, with the subsequent uplifting of these barriers, the industry forecast is likely to pick up pace in the coming years.

  7. Title Latest Research Report On Lignin Market@ https://www.gminsights.com/industry-analysis/lignin-market Request for sample of this research report@ https://www.gminsights.com/request-sample/detail/181 Request for customization: https://www.gminsights.com/roc/181

  8. Stay In Touch You can visit us at: www.gminsights.com THANK YOU

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