The global lignosulfonates market has so far been moderately consolidated, and is likely to stay that way for the immediate future, according to Transparency Market Research. In their recent research report on the market, TMR states that the leading manufacturers of lignosulfonates are progressing fast in terms of regional expansion and production capacities. A lot of the leaders in the market are seen to show a significant amount of interest in emerging economies, where they are setting up more and more facilities.
According to TMR, the global lignosulfonates market has so far been led by players such as Nippon Paper Industries Co., Ltd., Flambeau River Papers, and Tembec, Inc. The report reveals that the market is expanding at a steady CAGR of 3.8% within a forecast period from 2016 to 2024. The market is expected to reach US$960.2 mn by the end of 2024, after it was evaluated at US$691.9 mn in 2015.
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Sodium Lignosulfonate in High Demand Globally
Among the product types presented by the global lignosulfonates market, sodium lignosulfonate has been the leading segment in 2015, with a share of nearly 40% in the global scenario. This product is known for its low cost and its wide array of applications across nearly all aspects of the market. It is likely to remain in the lead over the coming years for the same reasons. Meanwhile, calcium lignosulfonate, which has been second on the list of highly used lignosulfonates, has been slowly gaining popularity owing to its growing use in oil well additives and animal feed binders.
From a regional perspective, OPEC nations are expected to boost the growth rate of the global lignosulfonates market over the coming years, while the scope of lignosulfonates applications rises in the MEA region.
Construction Industry Ramps Lignosulfonates Demand
“The construction industry has long since been the primary segment of application for the global lignosulfonates market. The use of lignosulfonates as super-plasticizers or plasticizers in concrete admixtures is already quite popular. They are also used in chemicals meant for water reduction, making them highly viable chemicals in the construction industry within tropical regions. These applications for lignosulfonates in the construction industry have intensified over the recent past, thanks to the swift rate of increase in construction activities, especially in emerging economies,” states a TMR analyst.
Europe, which held the leading share of more than 35% in the global lignosulfonates market in 2015, is expected to show a decent rate of growth over the coming years. However, propelled by the massive growth in construction activities in both private and public sectors in Asia Pacific, the market for lignosulfonates here is expected to show a phenomenal rate of growth between 2016 and 2024.
Lignosulfonate Animal Feed Applications Continue Success Story
Meanwhile, the applications if lignosulfonates in animal feed binders is expected to rise at a very swift pace over the coming years, attributed to the advantages it provides, including improved palatability of animal feed, easier waste segregation, and reduction in overall waste generated. This segment already held the leading application scope in 2015, taking up more than 35% of the global lignosulfonates market for the year. Current market trends suggest that this application segment is likely to remain in the lead over the coming years, due to the growing awareness of the advantages of using lignosulfonates in animal feed binders across emerging economies, where the animal husbandry industry is currently showing a massive scale of growth.