Kraft Lignin Products Market size is forecast to reach $16.5 million by 2025, after growing at a CAGR of 7.5% during 2020-2025. Due to the growing demand for carbon fibers, the Kraft Lignin Products market is witnessing higher growth. The higher processing cost and lack of awareness about the usage of kraft lignin products are expected to hinder the growth of the market.
Application – Segment Analysis
Fertilizers and Pesticides holds the largest market share in the Kraft lignin market as industrial lignin is a good raw material for preparing slow/controlled release fertilizers, slow/controlled release pesticides, soil stabilizers, soil amendment/ soil improvement agents, plant growth regulators, film mulching/liquid plastic films, and antiseptics for agricultural fields. Slow/controlled release fertilizers that can significantly increase crop yield and quality, improve the efficiency of fertilizer use, and reduce the eutrophication of water bodies and surfaces due to nitrogen loss from field. Lignin is an important precursor in the formation of humic substances in soils. However, the biological degradation of lignin is very slow due to its high (carbon to nitrogen) C/N ratio.
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Geography – Segment Analysis
North America dominated the kraft Lignin Products market with a share of more than 35%, as 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. 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.
Drivers – Kraft Lignin Products Market
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.
Activated carbon, also called activated charcoal, is a form of carbon processed to have small, low -volume pores that increase the surface area available for adsorption or chemical reactions. Activated is sometimes substituted with active. Kraft lignin can be transformed into activated carbon by physical or chemical activation. The chemical activation at high temperatures gives higher product yields.
Implementation of Stringent Environment Regulations
Implementation of stringent government regulations related to decreasing vehicle weight will increase the market demand for Kraft Lignin Products in the near future, as kraft lignin is used in the carbon fillers and these carbon fillers are used in automotive industries for making vehicles light weighted, Biobased cost-efficient carbon fibres would enable an increased replacement of steel with carbon fibre composites in cars. So this will encourage the automotive companies to start using more kraft lignin product in a way to make vehicles more light weighted.
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Challenges – Kraft Lignin Products Market
Higher processing cost and lack of awareness
Higher processing costs and lack of awareness about the usage of Kraft Lignin products are expected to hinder the growth of the market. Lignin micro- and nanoparticles (LMNPs) synthesized from side-streams of pulp and paper and biorefinery operations have been proposed for the generation of new, high-value materials. Due to the high cost, manufacturer think before using this product, and due to lack of awareness that it can be used in carbon fillers which will help the manufacturer to grow the market for Kraft lignin products more rapidly, as carbon fillers were used in the automotive industries to make the vehicles light weighted.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Kraft Lignin Products market. Major players in the Kraft Lignin Products Market are tore Enso, WestRock Company, LTD., Domtar Corporation, West Fraser, and RISE., among others.
North America dominates the Kraft Lignin Products market as urea additive. The significant agricultural boom that is underway in the region, are expected to boost the regional market.
Kraft lignin is also used in the manufacturing process of fertilizers and pesticides which will, likely to aid in the market growth of kraft lignin products.
Kraft lignin can be transformed into activated carbon by physical or chemical activation. The chemical activation at high temperatures gives higher product yields.
Higher processing costs and lack of awareness about the usage of Kraft Lignin products are expected to hinder the growth of the market studied.
Due to the COVID19 pandemic, manufacturing sector is completely shut down. So, this will create small hurdles for the kraft lignin products market.
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Kraft Liner Market
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