Lignin is one of the most significant by-products of the paper & pulp industry. Wood contains ~25-30% of lignin. It is processed and further used as a binder, dispersant, filler, modifier, adsorbent, and stabilizer for a variety of applications such as cement admixtures, pigments and dyes, water treatment chemicals, bitumen, and soil enhancers. In plastics and polymers, lignin can substitute various fossil fuel-based resins, including phenols. In animal feed and fertilizers, lignin serves as a pelletizing agent. The rising demand for lignin for a wide range of applications, coupled with increasing demand for sustainable ingredients across the industrial sector, is driving the Europe and Americas lignin market.
The Europe and Americas lignin market is segmented into Europe, North America, and South & Central America. Europe held the largest market share in 2022; however, North America is expected to register the highest CAGR over the forecast period. The presence of a robust paper & pulp industry and a rise in demand for lignin as a sustainable alternative to petroleum-based phenolic resins in the plastic and polymers industry are a few factors significantly driving the market growth. Moreover, the presence of well-established manufacturers of lignin such as Borregaard ASA, Domsjo Fabriker AB, Sappi Ltd, and Stora Enso Oyj operating actively across Europe as well as focusing on expanding their production capabilities is also driving the growth of the lignin market in Europe.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 325,222.05 thousand |
| Market Size by 2028 | US$ 439,701.82 thousand |
| Global CAGR (2022 - 2028) | 5.2% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |