The animal feed business is predicted to have a high demand for the product as a natural ingredient, which will help lignin's market expand. The whole development of an animal's diet is greatly influenced by lignin, which also gives animals a rich fibre diet that aids in the prevention of illnesses. The chemical is increasingly being used in insecticides and pesticides because it aids in the prevention of microbial attacks and the control of weed development. The automotive and other manufacturing industries' rising need for carbon fibres and polyurethane foams is anticipated to fuel market expansion. Lignin's market is expanding quickly due to the high demand for polyurethane foams from end-user industries like electronics, furniture, automotive, and packaging.
The global Lignin Market was accounted for US$ 872.2 Mn in terms of value and by the end of 2019 and is expected to grow at a CAGR of 2.7% during the forecast period.
Key Competitors in the Lignin Industry:
- Borregaard LignoTech
Borregaard ASA develops, produces, and markets specialized biomaterials, biochemicals, and biofuels in Norway, rest of Europe, the United States, Asia, and internationally. Borregaard ASA was incorporated in 2012 and is headquartered in Sarpsborg, Norway.
- Domsjö Fabriker AB
Founded in 1903, the main product, cellulose, can be found in viscose clothing as well as medicine tablets, hygiene products and various provisions. It has headquarters situated in Örnsköldsvik, Västernorrland.
- Domtar Corporation
Domtar Corporation designs, manufactures, markets, and distributes communication papers and specialty and packaging papers in the United States, Canada, Europe, Asia, and internationally. Domtar Corporation was founded in 1848 and is based in Fort Mill, South Carolina. Domtar Corporation operates as a subsidiary of Karta Halten B.V.
- MeadWestvaco Corporation
Founded in 1846, MeadWestvaco Corp. is a global packaging company that provides packaging solutions to healthcare, beauty and personal care, food, beverage, tobacco and home and garden industries. It has headquarters situated in Richmond, Virginia
- Nippon Paper Industries Co., Ltd.
Nippon Paper Industries Co., Ltd. engages in paper manufacturing and related businesses in Japan and internationally. Nippon Paper Industries Co., Ltd. was incorporated in 1949 and is headquartered in Tokyo, Japan. In November, 2022 Nippon Paper Industries Co., Ltd. will commence an alliance with Yamaha Motor Co., Ltd. on the development of applications for Cellenpia Plas®, CNF-reinforced resin.
- Tembec, Inc.
Trimble Inc. provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. Trimble Inc. was founded in 1978 and is headquartered in Westminster, Colorado.
- UPM-Kymmene Corporation
UPM-Kymmene was established in autumn 1995 when Repola Ltd and Kymmene Corporation decided to merge. It has headquarters situated in Helsinki, Finland.
*Definition- Lignin, also known as monolignols, is a class of complex polymers that is extensively employed in a variety of sectors, including agriculture, construction, oil drilling, pulp & paper, and pulp & paper manufacturing.
