Global Lignosulfonates Market to Rise to US$960.2 mn by 2024 as Demand in Animal Feed Industry Rises
A thorough overview of the global lignosulfonates market has been given in a recent market research report published by Transparency Market Research. The report states that the market, which had a valuation of US$691.9 mn in 2015, will expand at a moderate 3.8% CAGR from 2016 through 2024. If the forecast holds true, the market will rise to a valuation of US$960.2 mn by 2024.The report is titled “Lignosulfonates Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024.”
Lignosulfonates are eco-friendly and cost-effective anionic biopolymers formed during the production of wood pulp through the sulfite pulping process. These water-soluble biopolymers are the most commercialized source of lignin available at low costs in the market. They are an ideal source of lignin for wide-ranging applications and are used primarily in the animal feed, paper and pulp, construction, and oil and gas industries.
To make the market data more streamlined and easy to comprehend, the market has been segmented on the basis of three criteria: Product type, application, and geography.
On the basis of product type, the market has been segmented into calcium lignosulfonate, magnesium lignosulfonate, and sodium lignosulfonate. The segment of sodium lignosulfonates accounted for a dominant share of 40% in the global market in 2015, majorly owing to the low cost and plethora of applications of the product. The segment of calcium lignosulfonate acquired the second position in the market and is expected to see healthy demand over the forecast period from the animal feed binder industry.
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On the basis of application, the market has been segmented into concrete admixtures, animal feed binders, oil well additives, dust control, and other applications such as bricks and tiles. Of these, the segment of animal feed binders led the global lignosulfonate market, accounting for a 35% share in 2015. Over the report’s forecast period, this segment is expected to remain the dominant sector owing to the high demand for a variety of animal feed in developed regions across the globe. Concrete admixtures emerged as the second largest application segment of the market and are expected to witness healthy demand from the fast-paced construction sector in developing regions.
On the basis of geography, the market has been segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. Asia Pacific is projected to be the fastest-growing market for lignosulfonates over the forecast period. The high demand for a variety of lignosulfonates in the region will originate majorly from the construction industry in rapidly developing countries such as India and China. The use of lignosulfonates as cement slurry retardants in the oil and gas industry will also propel the market for lignosulfonates in the Middle East and Africa. The rising oil and gas procurement activities in Middle Eastern countries such as Qatar, Oman, and Saudi Arabia will be the major driver of the lignosulfonates market in this regional market.
Some of the most influential vendors operating in the moderately consolidated global lignosulfonates market are Tembec Inc., Burgo Group Spa, Green Agrochem, Borregaard LignoTech, Flambeau River Papers, Shenyang Xingzhenghe Chemical Co., Ltd., Domsjö Fabriker AB, Sappi, and Qingdao Newworld Material Co., Limited.
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