Lignin Bio-oil Market Share

APAC Market Forecast

The Asia Pacific lignin bio-oil market is set to capture share of about 35% during the forecast period. The growth of the market in this region could be primarily attributed to growing agriculture waste which could be further utilized in extracting lignin. About 499 million of agriculture waste is produced in India every year.  Hence, this could also encourage sustainability in handling agriculture waste along with boosting market share in this region.

European Market Analysis

The Europe market for lignin bio-oil is also poised to grow over the projected period. This could be on account of rising investment in the manufacturing of lignin bio-oil. Also, since, the material from which the lignin is formed is easily available in nature the cost of the final product is also reduced. This has influenced the Europe market to adopt lignin bio-oil.