Lignosulfonates Market Analysis by 2024| Borregaard LignoTech, Tembec Inc., Sappi Limited, Flambeau River Papers, Nippon Paper Industries Co. Ltd., Domsjö Fabriker AB, Burgo Group Spa

Ocean View, DE -- (SBWire) -- 06/18/2020 --There has been an exponential rise in the number of construction activities over the past several years to meet the infrastructure demand from industrial, commercial, and residential industries. Developing nations like Asia Pacific have witnessed a growth in their construction sector due to the rapid urbanization in the region.

Foreign companies have increasingly invested in emerging nations due to the availability of cheap labor and raw materials which has consequently increased the need for offices and other commercial spaces. In the year 2018, the total FDI inflow in South Korea was recorded at USD 26,901 million.

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Wide product usage in the construction industry

Another major reason supporting growth of global lignosulfonates market is the use of the product in the construction sector to build eco-friendly, green buildings due to high surface activity and stabilizing characteristics. They provide increased final resistance, maintain dispersion of particles, and prevent saline contamination and stabilization from changing temperatures.

The product is used to manufacture cement slurry, concrete, and plaster blends and help to produce workable and flowable slurry and increase the mechanical product of the final product by controlling the plaster blends and the setting time of the concrete. It helps in enhancing the final resistance of products and makes it durable.

Emergence of green buildings

The concept of green buildings has emerged over the years due to the need to use sustainable manufacturing practices to reduce carbon emission levels. As of 2018, there are nearly 172 green buildings in Illinois, U.S. and with gradual awareness regarding the need to adopt sustainable practices, there will be a spike in the construction of green builds subsequently supplementing the demand for lignosulfonates.

Availability of alternatives to hamper market growth

Global lignosulfonates market is witnessing strong competition from substitute products like sulfonated melamine formaldehyde, sulfonated naphthalene formaldehyde, and polycarboxylic ether. Moreover, synthetic binders like bentonite and clay, urea-formaldehyde, guar meal, wheat, and starch are the product substitutes that are used in animal feed that may hamper the industry size over the years.

High demand for oil and oil additives across the globe along with an increase in oil-well exploration activities in MEA has created new growth prospects for the product. In the year, 2010, MEA oil production was more than 23 million barrels.

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Robust application in animal feed industry

In the animal feed industry, these products are used as feed binders and provide essential nutrients like sodium and calcium to improve the health of the animals. Moreover, the product helps in balancing valuable bacteria in animals to endorse feed efficiency thus helping in reducing the bodyweight of the animal by 10%.

Lignosulfonates industry share for animal feed binders will witness gains of more than 4% through 2024. Increasing awareness and the need to improve the health of the animal will foster industry growth.

Global lignosulfonates market is fairly consolidated with prominent industry players like Borregaard, Nippon Paper Industries, Sappi, Shenyang Xingzhenghe, and Flambeau River Papers among various others.

Burgeoning U.S. animal feed industry

In terms of geographical expanse, the U.S. has dominated the regional market over the years generating a revenue of over USD 130 million in the year 2015. This was mainly due to the escalating demand for feed additives in the region.

According to a study, global lignosulfonates industry was likely to surpass USD 973 million by the end of 2024, registering a growth rate of nearly 3.7%.

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