Albany, NY -- (SBWire) -- 04/14/2021 --The global lignin market is highly consolidated in nature, finds Transparency Market Research. New players may find lignin market quite difficult to crack owing to the intense entry barriers. This is because a few large players dominate the global lignin market. Top players enjoy a stronghold over the market and together they account for a substantial share in the global lignin market. Owing to their high market hold, even mid-sized players find it difficult to cope up with constantly reshaping of the market dynamics. Some of the prominent players operating in the global lignin market are Domtar Corporation, Borregaard LignoTech. Tembec, Inc., MeadWestcavo Corporation, and Domsjö Fabriker AB.

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According to a business intelligence report by TMR, the global lignin market is expected to rise at a lackluster 2.75% CAGR from 2015 to 2023. The market is expected to attain a valuation of US$985.5 mn by 2023-end. Analysts evaluated the global lignin market at US$782.3 mn in 2014.

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On the basis of application, the concrete additive segment is likely to dominate the global lignin market during the forecast period. This is because of the increasing application of lignin in the construction industries across worldwide. Region wise Asia Pacific is has been a key contributor to the global lignin market. This is likely to continue in the forecast period as well. This is mainly due to booming industrialization and urbanization in countries like China and India in the region.

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Advantages of Dust Control on Various Mode of Transport to Drive Global Lignin Market

Lignin is widely used as a concrete admixture in building and construction industry. This is because it offers high performance, enhanced strength and minimizes damage for external wall due to bad climatic conditions. A spur in construction activities across the globe is a strong factor likely to boost the global lignin market in the forecast years. Apart from this rising development activity in public infrastructure such as roads, railways and transportation modes is another factor projected to drive the global lignin market. In addition to this, the increasing use of lignin in binders, adhesives, and concrete admixtures is considered as the key factor that is expected to encourage the growth of the global lignin market in the next few years. Moreover, rising application of lignin owing to its dust control properties is another key aspect bolstering the global lignin market over the next few years.

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Hazardous Impact of Lignin on Environment to Hamper Growth

On the flip side, the negative impact of lignin production on human health as well as environment is a major factor likely to restraint the growth in the global lignin market. Nonetheless, top players in the lignin market are paying emphasis on introduction of bio based product so as overcome the challenge. The favorable government regulation on the use of bio base lignin is expected to drive the global lignin market in the coming years. Apart from this, the researchers are also working on the invention of better production techniques. This is predicted to have a positive influence on the expansion of the global lignin market in future.

This review is based on the findings of a TMR report, titled, "Lignin Market (Product – Lignosulfonates, Kraft Lignin, and Organosolv; Application – Concrete Additive, Animal Feed, Dye Stuff, and Cosmetics and Absorbents) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015–2023."