Axiom MRC anticipates the global Lignin Market to grow at a compound annual growth rate of 2.1% from 2018 to 2023. The global lignin market is estimated in terms of both volume (KT) and revenue (USD million). By type, the lignin market is segmented as lignosulphonates, kraft lignin and others (includes organosolv, etc.). In terms of applications, major applications of lignin considered in the report are concrete additives, animal feed, dyestuff and others (includes cosmetics, absorbents, etc.). The market is studied for regions such as North America, Europe, Asia-Pacific, Latin America and Middle East & Africa.

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Lignosulphonate and kraft lignin are major types of lignin that dominate the global market with the largest market share. However pure grade lignin such as organosolv is also growing at a fast rate due to its wide applications. The market is driven by factors such as abundantly available plant material which is used as raw material, large number of applications, increasing demand of eco-friendly additives, waste material of paper puling process etc. Growth of the market is hindered by factors such as, technological difficulty in the extraction of lignin due to complex structure, no cost effective and efficient technology available etc.

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Globally a majority of lignin is manufactured from wood pulping production by-products. Thus, the major suppliers of raw materials are wood pulping companies and cellulosic ethanol companies. However the sources of the lignin wood and feedstock are available in abundance and the demand for lignin is growing substantially across the world.

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The key companies that dominate the global lignin market are Borregaard LignoTech, Tembec Inc., West Rock, Domtar Corporation, Asian Lignin Manufacturing Pvt. Ltd, Changzhou Shanfeng Chemical Industry Co., Ltd., CIMV (Compagnie Industrielle de la Matière Végétale), Domsjö Fabriker AB, Hubei zhengdong chemical co.,ltd, Weyerhaeuser, Nippon Paper Industries Co., Ltd, Northway Lignin Chemica, Stora Enso and Innventia AB.