According to Global Market Insights, Inc., “Lignosulfonates market collected a revenue of USD 700 million in 2015 and will register an annual growth rate of more than 3.5% over the period of 2016 to 2024.”
The construction industry across the globe is expanding at a rapid pace, which is bound to stimulate Lignosulfonates market remarkably. Lignosulfonates are mainly used as water reducing agent in cement concrete, especially across regions that demonstrate elevated temperatures. The rapidly expanding animal feed industry requires the usage of Lignosulfonates for animal feed additives, which will further influence Lignosulfonates industry share. According to Global Market Insights, Inc., “Lignosulfonates market collected a revenue of USD 700 million in 2015 and will register an annual growth rate of more than 3.5% over the period of 2016 to 2024.”
Dust control, animal feed binder, concrete admixture, oil well additives are the prominent applications of Lignosulfonates Market. Animal feed binder application will exhibit the highest CAGR of more than 4% over the period of 2013 to 2024, owing to its considerable demand subject to the cost-effective factor.Lignosulfonates market share from oil well additives application has generated a revenue of 55 million in 2015 and is anticipated to grow lucratively over the coming seven years. Additionally, the surging oil well exploration activities across MEA and U.S. will also boost the demand for Lignosulfonates.
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Taking into account the product segment, Lignosulfonates industry is mainly divided into magnesium, sodium, and calcium. Sodium based Lignosulfonates industry was worth USD 290 million in 2015 and will register an annual growth rate of more than 3% over the years ahead, primarily driven by its extensive use as a pellet binder and plasticizer in concrete admixtures. In addition, the increasing need for sodium based Lignosulfonates for animal feed additives pertaining to its preservative and antimicrobial features will also augment the product demand.
Lignosulfonates industry finds applications in dust control, concrete admixtures, oil well additives, and animal feed binders.
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Geographically, Asia Pacific Lignosulfonates market will grow at an annual rate of 4.5% over the period of 2013 to 2024. The growth can be attributed to the surging expenditure on the construction sector across countries such as India, Japan, and China, which are deemed to be the prominent revenue contributors. Moreover, growing requirement of animal feed across China will also favor the industry growth.
In 2015, U.S. led North America Lignosulfonates industry by collecting a revenue of more than USD 130 million and will grow significantly over the coming timeframe, owing to the presence of a vast number of animal feed mills.
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The notable players in Lignosulfonates market are Tembec Inc., Burgo Group S.P.A., Borregaard LignoTech, Nippon Paper Industries Co., Ltd., Qingdao New World Material Co. Ltd., Domsjö Fabriker AB, Flambeau River Papers LLC., Shenyang Xingzhenghe Chemical Co., Ltd., Green Agrochem, and Sappi Limited.
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