Lignin is a plant-based complex polymer that is being increasingly utilized as an additive in concrete as it functions as an effective water reducer and controls the rheological properties of the base material. Lignin is being increasingly used on filters owing to its superior performance.
The Asia Pacific lignin market is expected to progress at a CAGR of 4.30% and 4.70% in terms of revenue and volume respectively during the forecasting years of 2019-2027. In 2018, the Asia Pacific regional market accounted for a revenue share of XX% in global lignin market.
Growing awareness among breeders and keepers regarding the benefits of lignin in animal feed is expected to augment market demand. The countries that are essentially contributing to the APAC market growth are China, India, Japan, South Korea, Australia and the remaining countries forming the Rest of Asia Pacific regional segment.
The Asia Pacific is anticipated to be the fastest growing market for lignin in the upcoming years. The increasing trend towards the development of products through bio-based sources is expected to drive lignin demand over the forecast period. Also, the presence of a robust pulp and paper manufacturing industry in the region is anticipated to augment lignin production.
The major market players operating in the region that are mentioned in the report are The Dallas Group of America, Inc., Ingevity Corporation, Suzano Papel E Celulose S.A., Borregaard Lignotech, Stora Enso OYJ, Sweetwater Energy Inc., Nippon Paper Industries Co. Ltd., Domtar Corporation, Lenzing A.G. and Aditya Birla Group (Domsj? Fabriker AB).