Lignin Market Regional Analysis:
North American Market Insights
North America industry is anticipated to dominate majority revenue share of 35% by 2035, propelled by escalating aromatic uses and substantial R&D by significant firms. The United States Environmental Protection Agency (EPA) has offered monetary support to promote the development of biopolymers and bio-refinery, which is predicted to drive lignin consumption. Furthermore, evolving movements within the chemical production sector for the use of bio-based raw materials in manufacturing methods are expected to encourage the usage of bio-refinery, fueling the popularity of lignin as a catalyst in this region.
Europe Market Insights
The Europe lignin market is estimated to account for 25% share by the end of 2035. Regulations limiting the release of greenhouse gases, together with a strong biopolymer industrial base in France, Belgium, Germany, and the Netherlands, are expected to drive demand. The existence of large vehicle production facilities, together with the rising demand for compact motor vehicles, is likely to boost the regional market revenue
Furthermore, ascending aromatic application of lignin in aromatic alcohol, along with extensive research and development by various prominent players will fuel the market growth in the region. Germany, being a significant hub for the aviation and automobile sectors, saw a growth in demand for carbon fibers from these sectors. For instance, in Italy, car output in 2021 is expected to reach 795,856 units, up 2% from 2020. This is predicted to raise lignin demand in this region. Lignin is utilized to make low-cost carbon fibers without sacrificing efficiency.
APAC Market Insights
The market in the Asia Pacific region is expected to record the highest CAGR in the lignin market during the forecast period, owing to rise in construction activity in nations, including China, India, Japan, and South Korea backed by an increasing population. Additionally, increasing usage of lignin in the paper and pulp industry is estimated to propel the market in the region. Growing knowledge of the advantageous effects of lignin in livestock feed among breeders and keepers will boost the market demand. Furthermore, the presence of a thriving pulp and paper-producing sector in the region will impel the market size.
