Lignin Market Worth USD 6.19 Billion By 2022: Grand View Research, Inc.

Global lignin market is expected to reach USD 6.19 billion by 2022, according to a new study by Grand View Research, Inc. Growing awareness regarding harmful effect of pollution on human health is expected drive lignin market growth in dust control applications over the next few years. High market potential for lignin as a key intermediate to manufacturing carbon fibers, phenol, BTX and vanillin is anticipated to provide tremendous growth opportunities over the forecast period.

Low-purity grade lignin dominated the global market in 2014 accounting for over 85% of global demand volume and the trend is anticipated to continue over the forecast period owing to its extensive use as a bio-refinery catalyst. In addition, low product cost is likely to play an important role in market growth. Kraft lignin is expected to be the fastest growing segment of the market owing to its extensive application scope in manufacturing aromatic and macromolecules.

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