Global Lignosulfonates Market: Highlights
- The global lignosulfonates market is projected to grow at a CAGR of more than 3.5% between 2019 and 2027. Expansion of the global lignosulfonate market is driven by the strong demand from the concrete admixtures market, globally.
- Large amount of cement is used in the construction industry. This, in turn, fuels the demand for lignosulfonates. Development of infrastructure and increase in population in developing economies are anticipated to boost the demand for lignosulfonates in residential and non-residential buildings.
- Lignosulfonates are ideal for usage in developing countries in Asia Pacific, wherein demand for water-reducing chemicals is considerably high, due to their low cost. Thus, demand for lignosulfonates is likely to increase in the construction industry in Asia Pacific during the forecast period.
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Global Lignosulfonates Market: Segmental Trends
- In terms of application, the global lignosulfonates market can be classified into oil well additives, concrete additives, animal feed binder, dust control, and others, which includes plasterboard, leather tanning, and additive to lead batteries. The animal feed binder segment accounted for more than 35% share of the global lignosulfonate market in 2018 owing to the rise in demand for animal feed across the globe.
- Lignosulfonates are primarily utilized as animal feed binders (pellet binders) in the animal feed industry. They provide the necessary calcium and sodium, which serve as inorganic electrolytes appropriate for animal health. Additionally, lignosulfonates balance the beneficial bacteria in animals and promote feed efficiency, thereby increasing the weight of the animal by at least 5% to 10%.
- Sodium lignosulfonate is the most commercialized lignosulfonate. It is primarily utilized as an economical plasticizer in concrete admixtures and pellet binder in animal feed. The sodium lignosulfonate segment is expected to expand rapidly, primarily in developing countries in Asia Pacific, due to the high demand for sodium lignosulfonate in the construction industry.
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Global Lignosulfonates Market: Regional Highlights
- In terms of region, Europe witnessed high demand for lignosulfonate products in 2018. The region accounted for almost half of the global lignosulfonate market. High demand from animal feed industry is likely to boost the market growth during the forecast period.
- In terms of growth potential, Asia Pacific is expected to lead the global market during the forecast period due to the increase in demand for concrete admixtures in the region. Middle East & Africa is projected to follow Asia Pacific owing to the rise in demand for sodium lignosulfonate in concrete admixtures and oil well additives in the region.
- North America accounted for significant share in global lignosulfonate market in 2018. Rising demand from animal feed mills and oil well adiditives industries is likely to propel the market growth during the forecast period.
- The animal feed binder, concrete admixtures, and others application segments are expected to offer lucrative opportunities in the market in Latin America
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Global Lignosulfonates Market: Competition Landscape
- The lignosulfonates market is moderately consolidated; the market is modestly dominated by key companies with strong global presence. Key players operating in the lignosulfonates market include Borregaard, Tembec Inc. (Rayonier Advanced Materials), Burgo Group, Wuhan Xinyingda Chemicals Co. Ltd., and Shenyang Xingzhenghe Chemical Co. Ltd.
- Manufacturers of lignosulfonates are focusing on expanding their production capacity to penetrate into new markets. Some companies have low market presence in regions that provide lucrative market opportunities. Such companies are focusing on increasing their footprint in these regions. Manufacturers also strive to develop technology and consolidate distribution channels in order to penetrate into new markets.
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