Global Lignosulfonates Market – Demand from Construction Industry to Boost Growth| Technavio
LONDON–(BUSINESS WIRE)–#Chemicals–The global
lignosulfonates market is expected to grow at a CAGR of more
than 4% from 2017-2021, according to a new market research report by
Technavio.
Global lignosulfonates market segmentation by application and product
type
Technavio’s report on the global lignosulfonates market analyses the
business dimensions and presents a comprehensive breakdown in terms of
market segmentation by application which includes animal feed binder,
concrete admixtures, oil well additives, and dust control/dust
suppressant. As projected in 2016, around 33% of the market share
originated from the animal feed binder segment. Lignosulfonates are
added in animal feed as they are safe for poultry animals such as
chickens, hens, pigs, and cattle.
Based on product type, the global
lignosulfonates market has been segmented into sodium
lignosulfonates, calcium lignosulfonates, and magnesium lignosulfonates.
As of 2016, 43% of the market share came from sodium lignosulfonates.
“The key growth driver for the high consumption of sodium
lignosulfonates during the forecast period is the growth in the
construction industry as sodium lignosulfonate is in extensive demand
due to its use in concrete admixtures. The increase in the disposable
income, high investments in infrastructure development, and the growth
in the population are factors fostering the growth in the construction
industry. This is also expected to foster the growth in the global
sodium lignosulfonate market during the forecast period,” says Mohd
Shakeel Iqbal, a lead analyst at Technavio for plastics,
polymers, and elastomers research.
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Lignosulfonates market: competitive vendor landscape
The global lignosulfonates market is characterized by the presence of
many vendors. This market research study identifies Borregaard, Burgo
Group, Rayonier Advanced Materials, Shenyang Xingzhenghe Chemical, and
Wuhan Xinyingda Chemicals as the leading players in the global
lignosulfonates market. Among the key vendors, Borregaard has one of the
most advanced biorefineries, which produces eco-friendly biochemicals
using natural and sustainable raw materials. These biochemicals can
replace the oil-based products. Similar products are being offered by
other players in the market.
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Other topics covered in the report:
Market drivers:
- Increasing demand for environment-friendly products
- Demand for lignosulfonates as water-reducing agents
Market challenges:
- Substitutes of lignosulfonate
- Regulations on wood products
Market trends:
- Increasing investments in infrastructure
- Growing exploration of oil wells
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lignosulfonates market report free of cost
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