14th May 2019: Increasing development of superior technologies such as lignoforce and lignin-based polymer technology and its massive demand among the consumers are the reasons behind the growth of the market. Lignin protects the plants from collapsing and grow straight by binding the cellulose fiber in them. The leading manufacturers are focusing on better technologies for its extraction and on their various potential applications, owing to which, the global lignin market is anticipated to witness growth during the forecast period (2019-2025).
Lignin is naturally present in the cells and cell walls of all vascular plants and is a renewable raw material, which is available at an affordable price. It is a highly complex chemical in nature and has organic functions and properties owing to which, its demand is consistently rising in the diverse niche applications. It is majorly used in making animal nutritional food, aromatic alcohol, and dispersant in concrete additives. Furthermore, it is also extensively used in the paper industry as a byproduct. These are some of the major driving factors that are propelling the growth of the market and are likely to spur its demand in the near future.
Use in the production of aromatics
The automotive and construction industries are demanding aromatic derivatives, which is expected to boost the growth of phenol resins and BTX. Thus, lignin is anticipated to be widely used as a raw material to produce aromatics in the estimated time span. Additionally, chemical manufacturers are inclined towards decreasing their reliance on petrochemical and crude oil as raw materials to manufacture polymers, which will further spur the growth of the lignin market.
Additionally, lignin is also expected to be utilized as an intermediate to produce BTX, phenol, phenolic resins, and vanillin. Thus, the aromatics segment is projected to register the highest growth during the forecast period.
The chemical manufacturers in the U.S. are much inclined towards the use of bio-based raw material to manufacture products that will promote the applications of bio-refinery and hence will enhance the development and will increase the demand for lignin. Additionally, Europe is also expected to hold the largest share of the market in the near future and the manufacturers in this region will expand their reach to other regions as well.
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