Lignin Products Market – Segmentation Analysis and Forecast by Technavio

October 18, 2017

LONDON–(BUSINESS WIRE)–#Chemicals–According to the latest market study released by Technavio,
the global lignin products market is expected to grow at a CAGR of more
than 4% during the predicted period.

This research report titled ‘Global
Lignin Products Market 2017-2021’ provides an in-depth analysis of
the market in terms of revenue and emerging market trends. This market
research report also includes up to date analysis and forecasts for
various market segments and all geographical regions.

Lignosulfonates constituted the largest product segment of lignin and
accounted for a share of 76.26% in the global lignin products market in
2016. The growth in the application of sulfur-free lignin along with the
increasing demand for and awareness regarding bio-based products in
developed economies, such as Europe and North America, is likely to
drive the demand for lignin products during the forecast period.

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Technavio’s analysts categorize the global lignin products market into
three major segments by application. They are:

Macromolecules
Aromatics
Carbon material

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Global lignin products market for macromolecules

Lignin macromolecules are predominantly used as additives or polymer
blends. The lignins are added in the polymer material as they act as UV
degradation and thermo-oxidation stabilizers. Therefore, they are
increasingly blended with polystyrene, polyethylene, polypropylene, and
natural rubbers. The addition of lignin in the polystyrenes gives it
rheological, mechanical, and morphological properties.

According to Shabnam Kumari Singh, a lead specialty
chemicals research analyst from Technavio, “The growth in the
polymer market is likely to boost the growth of the lignin
products market in the coming years. Owing to its physical
characteristics such as strength, clarity, and lightweight, the
lignin-based polymer material is successfully replacing conventional
materials, such as glass, wood, and metals, in many applications, such
as automobile.”

Global lignin products market for aromatic compounds

Lignin is the most abundant natural aromatic resource. Lignin does not
have a well-defined structure and has unique properties, such as lower
oxygen content and highly aromatic nature compared with polysaccharides.
This makes lignin a bio-polymer that can be converted into renewable
chemical building blocks and related materials and fuels.

“BTX has large-scale application, and thus it has significant
potential in chemical industries worldwide. Lignin-based BTX is similar
to BTX obtained from petroleum, and hence it can be used as a
replacement for BTX. The lignin-based aromatic compounds can further be
used to manufacture various derivatives, such as cumene, styrene, adipic
acid, caprolactam, cyclohexanone, and cyclohexane, which can be derived
from benzene,” says Shabnam.

Global lignin products market for carbon material

Lignin contains 50%-60% carbon. It is used as a precursor for carbon
materials. The applications of lignin in carbon materials include the
manufacture of carbon fibers and activated carbon. In carbon materials,
it is used in activated carbons as it is a great adsorbent of organic
and inorganic materials. It is used in both the liquid and gaseous
phases.

Moreover, lignin is used in the manufacture of carbon fiber. Carbon
fibers are valuable composite materials that have properties, such as
high strength, low density, and high stiffness, which make them ideal
for use in automotive applications. The carbon fiber material is priced
high due to its precursor polyacrylonitrile, which constitutes 50% of
all production costs.

The top vendors highlighted by Technavio’s research analysts in this
report are:

Borregaard LignoTech
Changzhou Shanfeng Chemical Industry
Domtar
GreenValue
Rayonier Advanced Materials

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