Continued Product Use In Fertilizers & Pesticides To Bolster Demand For Kraft Lignin; Shift Of Focus Towards Carbon Fiber And Activated Carbon Products To Provide Opportunities Of Market Growth
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Kraft Lignin Market is expected to reach USD 98.7 million by the end of 2026.
Bizlytik analysts forecast the global Kraft Lignin market to grow at a CAGR of 6.4% during the forecast period, according to their latest market research report.
Kraft lignin is derived from the Kraft pulp in the form of industrially viable lignin ideal for energy use applications. The production of kraft lignin is primarily done in kraft mills, which allow for partial precipitation of kraft lignin from the black liquor by addition of carbon dioxide or mineral acid.
The rapid shift in preference towards bio-based products and rising product demand for fertilizers and pesticides applications are the influential primary factors that would bolster the prospects of market growth during the forecast period. The rapid development of chemical procedures for the use of kraft lignin as a naturally-sourced binding agent or dispersant in the manufacturing of fertilizers and pesticides have improved the market growth prospects. The integration of kraft lignin in the soil as chemically modified compounds that mimic the properties of organic humic substances would also invariably increase product demand, ensuring the growth of the market. The increasing product adoption for use as carbon fiber and activated carbon would offer crucial market vendors with new opportunities for the product application and business expansion over the forecast period.
Softwood Kraft Lignin and Hardwood Kraft Lignin are covered in the Type segment of the market scope. In contrast, the Application segment is categorized into Fertilizers & Pesticides, Polymers/Plastics, Binders & Resins, Phenol & Derivatives, Activated Carbon, Carbon Fibers, and Others. The report covers Consumption volume of the global market by Application, with the volume expressed in K MT. The Type segment is calculated in terms of Production value and volume.
The volume of the Fertilizers & Pesticides consumption by Application is estimated to garner 78.3 K MT by 2026, growing at a CAGR of 7.1% from 2020 to 2026. The use of kraft lignin as additives in the manufacturing processes of fertilizers & pesticides have increased in recent times, which would influence the prospects of segment growth towards positive outcomes.
North America, Europe, Asia Pacific, South America, and Middle East & Africa are taken into consideration while arriving at the global volume and value figures. While North America is further categorized into the United States, Canada, and Mexico, Europe is split into the United Kingdom, Germany, France, Italy, Russia, and Rest of Europe. Asia-Pacific covers India, China, Japan, South Korea, and Rest of Asia Pacific in its scope. South America is bifurcated into Brazil, Argentina, and Rest of South America, with Middle East & Africa involving GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.
Asia Pacific is a prominent region and holds a considerable share in terms of overall consumption volume. The continued demand for kraft lignin to be incorporated in herbicides and pesticides in demand-rich agricultural countries and a gradual shift towards the use of carbon fiber products would generate sufficient product interest for further regional growth of the market.
The Kraft Lignin market is highly consolidated, with globally expansive companies operating with extensive manufacturing capabilities and distribution networks. The extension in business opportunities through strategic partnerships and collaborations and increase in manufacturing capabilities through facility expansions are the primary business strategies of top players.
Stora Enso Oyj is one of the most significant companies of the global Kraft Lignin Market in terms of production volume, with Domtar Corporation and Nippon Paper Industries Co., Ltd. among many other vendors to hold substantial market share by value and volume.