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Lignosulfonates Market Size to register extensive growth via animal feed binders sector

Author : Ronak Bora | Published Date : 2019-06-11 

Lignosulfonates Market size is expected to witness a striking growth over the next few years, owing to the widespread product applications in oil well additives, animal feed binders, concrete admixtures, and dust control. Key factors driving lignosulfonates market growth include the rising global population along with the escalating demand for high-grade infrastructure facilities across the residential and non-residential sectors. The product is basically used as a water-reducing chemical and is available at affordable costs, which explains its huge popularity amidst numerous end-use sectors. According to Global Market Insights, Inc., “Lignosulfonates industry revenue, which was estimated at USD 700 million in 2015, is slated to hit USD 973 million by 2024.”

The thriving construction sector is expected to create lucrative growth opportunities for lignosulfonates industry, driven by the mounting product usage as a water-reducing agent in cement admixtures for enhancing its utility across construction activities at elevated temperatures. Cement admixture applications, which contributed to more than 25% toward lignosulfonates market size in 2015, are expected to witness a massive growth over the coming years. The growth can be attributed to high product usage in the construction projects.

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Animal feed binder applications are forecast to grow at CAGR of more than 4% over 2016-2024, driven by the product’s ability to increase the weight of animals. The product is also renowned to benefit the gastrointestinal tract of animals. Global animal feed size, which was assessed at 970 million tons in 2015, is forecast to surpass 1 billion tons by 2024, which in turn, will favorably leverage the lignosulfonates industry value in the near future.

Global lignosulfonates market size will USD 973 million by 2024, with projected 3.7% growth.

In 2015, sodium lignosulfonates market size generated revenue more than USD 290 million. It is highly commercialized product and finds widespread application array such as plasticizers in concrete admixtures and pellet binders in animal feed industry.

Lignosulfonates market share for animal feed binders must witness maximum gains at over 4% CAGR. Rising awareness towards improving animal health will boost industry growth for this application.

In 2015, North America, mainly dominated by the U.S. lignosulfonates market size generated revenue more than USD 130 million. The regional growth was mainly driven escalating feed additives demand. However, Asia Pacific must experience highest gains over the forecast timeframe owing to increasing construction spending in China, Japan and India.

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In 2015, lignosulfonates market share was highly consolidated and major industry participants including Nippon Paper Industries, Tembec, Borregaard, LignoTech, Burgo Group, Domsjö Fabriker, Qingdao New World Material, accounted over 50% of global share. Other industry contributors are Shenyang Xingzhenghe Chemical, Sappi, Flambeau River Papers and Green Agrochem.

 

About Global Market Insights 


Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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