Lignin Products Market Growth by Size – New Report
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The “Lignin Products Market” report provides coverage of current and emerging market trends, market drivers, and insights offered by industry experts. It offers an in-depth analysis and all the information required by the new entrants and emerging players to stay ahead in the competition. The report examines the overall Lignin Products market size, share, opportunities, historical analysis, technological advancements for the forecast period.
Lignin Products Market Dynamics:
Drivers: (Developing regions growing markets)
Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
Opportunities: (Regional, Growth Rate, Competitive, Consumption)
Key Market Trends:
Increasing Need for High-quality Concrete Admixtures
Concrete admixtures enhance workability, compressive strength, durability, and resistance to chemicals while reducing water from the concrete. They provide benefits, such as effective placement of concrete in extreme weather conditions, reduced permeability, corrosion resistance, improved underwater placement of concrete, etc.
Thus, the consumption of admixtures is increasing in the construction industries, worldwide. These concrete admixtures are of different types, of which, lignosulfonates are lignin-based, and offer benefits, such as improved performance and concrete strength, reduced damages caused by acid rains and moisture, reduced concrete shrinkage, and increased final strength, among others.
Globally, Asia-Pacific has the largest construction market, which is led by India, China, and various other Southeast Asian countries. In India, the government initiated projects, such as 100 smart cities and ‘Housing for All by 2022’, which are expected to drive the residential construction market immensely in India through the forecast period. The country has even experienced significant interest from foreign investors in its infrastructural sector.
In North America, the construction industry rose by around 5% in 2018, with residential construction leading the market at around 6% through 2018.
The construction industry in Europe is also growing at a steady rate and is expected to register an average growth of around 6% through 2020. Such positive growth in the construction sector is expected to increase the demand for high-quality concrete admixtures in the industry, thereby driving the market for lignin products.
Asia-Pacific to Dominate the Market Growth
Europe has the highest share, accounting for more than 42% of the global market, in 2017. However, Asia-Pacific is projected to register the fastest growth with a CAGR of 4.33% during the forecast period. With the surge in demand for concrete admixtures due to the growing construction activities in major countries, such as China, India, Japan, South Korea, and ASEAN countries, the consumption of lignosulfonates (used in concrete admixtures) is likely to increase during the forecast period. Furthermore, increasing usage of lignin products in various applications is anticipated to propel Asia-Pacific with the highest CAGR during the forecast period.
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