Product Code: 65759
The market for kraft lignin products is expected to register a CAGR of 7.30% during the forecast period of 2019 - 2024. Major factor driving the market studied is the increasing demand for carbon fibers. The higher processing cost and lack of awareness about the usage of kraft lignin products are expected to hinder the growth of the market studied.
- Fertilizers and pesticides application segment is expected to dominate the market.
- The rising demand for activated carbon is in turn estimated to boost the demand for kraft lignin, during the forecast period.
- North America is expected to dominate the market studied, holding a share of approximately 40% and is also estimated to expand in the forecast period.
Key Market Trends
Increasing Consumption of Activated Carbon
- Activated carbons are widely used industrial adsorbents in deodorization and purification for process streams and the treatment of liquid and gaseous effluents. Kraft lignin can be transformed into activated carbon by physical or chemical activation. The chemical activation at high temperatures gives higher product yields.
- Activated carbon finds excellent in metal finishing for purification of electroplating solutions. The other applications include gas and water purification, decaffeination, gold purification, metal extraction, medicine, sewage treatment, air filters in gas masks and respirators, and filters in compressed air, etc.
- The pharmaceutical industry would exploit activated carbon fibers, which can adsorb bacteria. In case of waste incineration, volatile heavy metals, and combustion products, such as dioxins and furans present in the post-combustion areas, can also be adsorbed by activated carbon.
- Water treatment operations continuously contend with new regulations, while current regulations become more stringent. Activated carbon has been an effective treatment option for years in compliance viability of wastewater treatment.
- As water reuse becomes increasingly important from a sustainability perspective, activated carbon is becoming a vital component of the water treatment process because of its versatility.
- Increasing emission standards and concerns over air pollution control are anticipated to drive this trend, which, in turn, is expected to be increasingly beneficial to the activated carbon segment in kraft lignin market.
North America Region to Dominate the Market
North American region dominated the market share in 2018. North America is the largest producer of the kraft lignin products, majorly dominated by Canada and the United States. A shift in industry preference to biobased products, due to the need of reducing dependence on fossil sources, is expected to continue as a key driver for kraft lignin products market growth in the region, during the forecast period. In Canada, there is a kraft lignin surplus of approximately 1.06 million metric ton per year (after ensuring pulp mills' recovery boiler demand) from the 23 pulp mills, which may be used for the production of value-added biobased products. This kraft lignin supply can create a USD 1.5 billion lignin-based bioproducts industry, which is one of the major opportunities in the future. The growing residential market in the United States is expected to drive the demand for kraft lignin products from the construction sector of the region. Moreover, the steady recovery of oil prices is expected to increase the drilling processes in the region, in turn, increasing the demand for lignosulphonates in the oil and gas industry. The aforementioned factors are contributing to the increasing demand for kraft lignin products consumption in the region during the forecast period.
The kraft lignin products market is consolidated, with the top five players accounting 90% of the market share. Key players in the market include Stora Enso, NIPPON PAPER INDUSTRIES CO., LTD., Domtar Corporation, West Fraser, and Innventia Group.
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Table of Contents
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Drivers
- 4.1.1 Rising Demand for Carbon Fibers
- 4.2 Restraints
- 4.3 Industry Value-Chain Analysis
- 4.4 Porters Five Force Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
- 4.5 Raw Material Analysis
5 MARKET SEGMENTATION
- 5.1 By Application
- 5.1.1 Fertilizers and Pesticides
- 5.1.2 Polymers/Plastics
- 5.1.3 Binders and Resins
- 5.1.4 Phenol and Derivatives
- 5.1.5 Activated carbon
- 5.1.6 Carbon fibers
- 5.1.7 Other Applications (Blends, Sorbents, etc.)
- 5.2 Geography
- 5.2.1 Asia-Pacific
- 184.108.40.206 China
- 220.127.116.11 India
- 18.104.22.168 Japan
- 22.214.171.124 South Korea
- 126.96.36.199 Rest of Asia-Pacific
- 5.2.2 North America
- 188.8.131.52 United States
- 184.108.40.206 Canada
- 220.127.116.11 Rest of North America
- 5.2.3 Europe
- 18.104.22.168 Germany
- 22.214.171.124 United Kingdom
- 126.96.36.199 France
- 188.8.131.52 Nordic Countries
- 184.108.40.206 Rest of Europe
- 5.2.4 Rest of the World
- 220.127.116.11 Brazil
- 18.104.22.168 Saudi Arabia
- 22.214.171.124 Rest of World
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share Analysis**
- 6.3 Strategies Adopted by Leading Players
- 6.4 Company Profiles
- 6.4.1 Borregaard Lignotech
- 6.4.2 Domtar Corporation
- 6.4.3 Innventia Group
- 6.4.4 NIPPON PAPER INDUSTRIES CO. LTD
- 6.4.5 Rayonier Advanced Materials
- 6.4.6 Resolute forest products
- 6.4.7 Stora Enso
- 6.4.8 Suzano
- 6.4.9 UPM Biochemicals
- 6.4.10 West Fraser
- 6.4.11 WestRock
- 6.4.12 Weyerhaeuser Company
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Increasing Consumption of Activated Carbon
- 7.2 Other Opportunities