Rockville, Jan. 24, 2023 (GLOBE NEWSWIRE) -- According to the latest data provided by Fact.MR, a market research and competitive intelligence provider, the global sodium lignosulfonate market is projected to reach a valuation of US$ 535 million by the end of 2033, expanding at a CAGR of 3.5% over the next ten years.
Sodium lignosulfonate is being used at an increased rate in the food business as an additive. Owing to its staining effect as a dye dispersant, the application of sodium lignosulfonate becomes objectionable. Therefore, companies need to invest in R&D activities to study multiple molecular weight fractions of lignosulfonate.
Sodium lignosulfonate is also widely used as animal feed additive. In addition, it is also gaining prominence owing to its features of salt resistance and high-temperature resistance. In addition, sodium lignosulfonate works effectively as an anti-calcium agent. Animal feed binders, concrete additives, and oil well additives are some noticeable use of sodium lignosulfonate that are gaining traction in the global market.
Sodium lignosulfonate is a non-hazardous material that comes with excellent properties and is commonly used as a dispersant, emulsifier, and binder for various materials. The low toxicity of sodium lignosulfonate makes it a commonly preferred binder that is used by feed manufacturers. Further, it is used for the improvement of the feed properties of pallets.
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The imbalance in the demand and supply of lignosulfonate is having a direct impact on its use to produce oil well additives. Various financially unstable companies are capitalizing on government schemes and programs that are offered by the Banking, Financial Services, and Insurance (BFSI) sector to enrich their product portfolios. These companies are resorting to mergers & acquisitions to gain higher profits in the market.
Asia Pacific is anticipated to experience significant growth opportunities owing to increasing expenditure on construction activities in China, Japan, and India. Furthermore, North America is projected to hold a noteworthy share of the global market due to the presence of prominent animal feed mills in the United States.
Key Takeaways from Market Study
- Sales of sodium lignosulfonate are estimated to increase at a CAGR of 3.5% during the forecast period from 2023 to 2033.
- The global sodium lignosulfonate market is forecasted to reach a valuation of US$ 535 million by the end of 2033.
- The market stands at US$ 377 million in the year 2023.
- The Canadian market is projected to advance at a CAGR of 2.6% from 2023 to 2033.
- The market in Germany is anticipated to progress at a CAGR of 1.7% through 2033.
"Rising development of residential as well as non-residential structures, requirement for concrete admixtures in the construction industry, and high demand for lignosulfonate as an oil additive in the oil & gas industry are predicted to drive the growth of the sodium lignosulfonate market," says a Fact.MR analyst.
Segmentation of Sodium Lignosulfonate Industry Research
- By Type :
- Dry
- Liquid
- Others
- By Application :
- Animal Feed Binders
- Concrete Admixtures
- Oil Well Additives
- Agriculture Chemicals
- Dust Suppressants
- Lead Batteries
- Gypsum Plasterboards
- Others
- By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Winning Strategy
Prominent manufacturers of sodium lignosulfonate, with the help of complexing agents and emulsion stabilizers, are leveraging value-grab opportunities while using lignin-based biopolymers. Manufacturers are taking efforts to expand their portfolios in polymers that are based on lignin, which are wood-based alternatives to fossil-based chemicals and are renewable.
For instance,
- Borregaard is a world specialist in lignosulfonate and lignin. The company is increasing the availability of various lignin-based biopolymers that are commonly used as crystal growth modifiers, dispersing agents, and binders.
Key Companies Profiled
- Borregaard LignoTech
- Burgo Group SpA
- Nippon Paper Industries Co., Ltd.
- Rayonier Advanced Materials
- Sappi Ltd.
- Green Agrochem
- Flambeau River Papers
- Qingdao New World Material Co. Ltd.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global sodium lignosulfonate market for the period of 2023 to 2033.
The study divulges essential insights into the market on the basis of type (dry, liquid, others) and application (animal feed binders, concrete admixtures, oil well additives, agriculture chemicals, dust suppressants, lead batteries, gypsum plasterboards, others), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).
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