“Global Lignosulfonates Market to reach a market value of USD 1.4 Billion by 2031 growing at a CAGR of 3.5%”
The Global Lignosulfonates Market size is expected to reach $1.4 billion by 2031, rising at a market growth of 3.5% CAGR during the forecast period. In the year 2023, the market attained a volume of 1,647.64 kilo tonnes, experiencing a growth of 21.0% (2020-2023).
European livestock producers have placed a greater emphasis on animal performance and welfare. Lignosulfonates offer various benefits in animal feed formulations, including improved pellet quality, enhanced digestibility, and reduced dustiness. Hence, these factors will boost the demand in the segment. Thus, the Europe region acquired 37% revenue share in the market 2023. In terms of volume, the Europe region is expected to utilize 738.04 kilo tonnes of Lignosulfonates by 2031.
Concrete admixtures are substances added to concrete during mixing to modify its properties. They can improve various characteristics such as workability, strength, durability, and setting time. With modern construction requirements becoming more demanding, there's a greater need to tailor concrete mixtures to meet specific project needs.
Additionally, R&D activities focus on improving the performance of lignosulfonate-based products in various applications. This may involve optimizing formulations to enhance properties such as dispersibility, solubility, stability, and compatibility with other additives or materials.
However, Lignosulfonate production often requires substantial energy and water inputs, contributing to its resource-intensive nature. The extraction and processing of lignin from wood pulp demands significant energy expenditures, increasing the production process's carbon footprint. Therefore, these factors will lead to decreased demand in the market.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
Based on type, the market is segmented into sodium lignosulfonate, calcium lignosulfonate, magnesium lignosulfonate, and others. The sodium lignosulfonate segment held 42% revenue share in the market in 2023. In terms of volume the Sodium lignosulfonates segment is expected to attain a volume of 970.27 kilo tonnes by 2031. Sodium lignosulfonates find applications across diverse industries, including construction, agriculture, animal feed, and chemical processing.
On the basis of application, the market is divided into oil well additives, concrete additives, animal feed binders, dust control, and others. In 2023, the animal feed binders segment witnessed 18% revenue share in the market. In terms of volume 440.37 kilo tonnes of lignosulfonates in animal feed binders’ application by 2031.
Free Valuable Insights: Global Lignosulfonates Market size to reach USD 1.4 Billion by 2031
By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. The North America segment procured a considerable revenue share in the market in 2023. In terms of volume, the North America region is expected to utilize 511.04 kilo tonnes of lignosulfonates by 2031.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 1.1 Billion |
| Market size forecast in 2031 | USD 1.4 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 3.5% from 2024 to 2031 |
| Quantitative Data | Volume in Kilo Tonnes, Revenue in USD Billion, and CAGR from 2020 to 2031 |
| Number of Pages | 285 |
| Number of Tables | 570 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Market Share Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Application, Region |
| Country scope |
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| Companies Included | Tokyo Chemical Industry Co., Ltd., Sappi Limited, Cardinal Chemicals Pvt. Ltd., Rayonier Advanced Materials, Inc., Domsjö Fabriker AB (Aditya Birla Group), Ingevity Corporation, Burgo Group S.p.A. (BG Holding S.r.l.), The Dallas Group of America, Inc., Borregaard AS, Abelin Polymers |
By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Type (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Geography (Volume, Kilo Tonnes, USD Billion, 2020-2031)
This Market size is expected to reach $1.4 billion by 2031.
Surging demand for concrete admixtures are driving the Market in coming years, however, Environmental concerns and sustainability pressures restraints the growth of the Market.
Tokyo Chemical Industry Co., Ltd., Sappi Limited, Cardinal Chemicals Pvt. Ltd., Rayonier Advanced Materials, Inc., Domsjö Fabriker AB (Aditya Birla Group), Ingevity Corporation, Burgo Group S.p.A. (BG Holding S.r.l.), The Dallas Group of America, Inc., Borregaard AS, Abelin Polymers
In the year 2023, the market attained a volume of 1,647.64 kilo tonnes, experiencing a growth of 21.0% (2020-2023).
The Concrete Additives segment is leading the Market by Application in 2023; thereby, achieving a market value of $475.6 Million by 2031.
The Europe region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $498.2 Million by 2031.
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