According to the recent research report titled ‘Global Lignin Market Size study, By Product (Ligno-Sulphonates, Kraft, Organosolv), By Application (Macromolecule, Aromatic) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global lignin market size was valued at USD 0.97 billion in 2020, and is expected to record 2% CAGR over 2021-2027, subsequently reaching a valuation of USD 1.11 billion by the end of the forecast period.
 

The distinctive dispersing characteristic of lignosulfonate along with surging demand for the product in animal feed are propelling global lignin market growth. Furthermore, growing trend of using lignin as a fuel for combustion in various applications will drive market expansion throughout the assessment period.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/4219747/
 

For the unversed, lignin is a complex polymer which comprises aromatic alcohols referred to as monolignols. It is utilized for various reasons in the industry verticals, for instance, as an adhesive for linoleum, as a soil conditioner, or as a binder for particleboard and similar laminated or composite wood products.
 

Considering factors restraining the industry expansion, lack of awareness about lignin among customers is likely to act as major challenge for businesses in this vertical.
 

With respect to product type, worldwide lignin market is split into organosolv, kraft, ligno-sulphates, and others. As per application spectrum, the industry segmentation is comprised of aromatics and macromolecules.
 

Coming to geographical ambit, the key regions considered for the regional analysis of the overall industry are Latin America (Mexico, Brazil), Europe (Italy, Spain, France, Germany, the United Kingdom), North America (Canada, the United States), and Asia Pacific (Australia, Japan, India, China).
 

As per the report findings, North America currently accounts for sizeable market share, creditable to wide usage of lignin in concrete additives and construction sector in the region.
 

On the other hand, Europe is projected to exhibit a robust CAGR over the next six years, owing to prevailing trend of manufacturing products with the help of bio-based sources.
 

Elaborating on competitive landscape, Metsä Group, Nippon Paper Industries Co. Ltd., Changzhou Shanfeng Chemical Industry Co. Ltd., The Dallas Group of America, Burgo Group S.p.A., Stora Enso Oyj, Domsjö Fabriker AB, Domtar Corporation, Rayonier Advanced Materials, and Borregaard LignoTech are the top companies operating in global lignin market sphere.