Lignin Bio-oil Market Trends

• Growing Production of Paper & Pulp: About 190 million metric tons of pulp for paper has been generated worldwide in 2021. Hence, the production of lignin bio-oil is also growing. The waste of paper when production known as lignin is extracted when producing paper. Hence, further, this extracted lignin is used in producing valuable products like as bio fuels.
• Rising Use of Lignin Bio-oil in Chemical Industry: Lignin bio-oil is used as feedstock in the manufacturing of various chemicals such as phenolic compounds, aromatic chemicals, and more. Furthermore, there has been growing research in this field. However, this method is estimated to have huge popularity in the future since it will cut the need for fossil fuels.
• Surge in Application of Lignin Bio-oil in Aviation: Even though lignin bio-oil is not extensively used as replaced fuel option for aviation, owing to growing pollution its use is slated to increase. This industry has been exploring various fuel alternatives; however, lignin bio-oil is one of the preferred alternatives since it has high velocity and energy density.

Challenges

• Lack of Knowledge Among People – Since lignin bio fuel is developing concept is not highly commercialized. Therefore, not a large number of people are aware of it. Moreover, a large number of developing nations find comfort in fossil fuel as it is considered to be difficult to quit it. Therefore, this factor is set to hinder market expansion.
• Consist of Complex Composition
• Availability of Alternatives