Lignosulfonates Market size must reach USD 973 million by 2024; according to a new research report by Global Market Insights, Inc.
Strong growth in construction sector, particularly in Asia Pacific, is analyzed to be the main aspect propelling global lignosulfonates market size over the forecast timeframe. The product is mainly used in cement as a water reducing agent to upgrade its workability at high temperature. In addition, it has wide application spectrum in MEA and APAC as these regions are exposed to elevated temperature, which results in abased cement workability.
Global lignosulfonates market share for cement admixture was significant market share contributor and accounted for over 25% of global volume in 2015 owing to high product demand from construction industry. Furthermore, low cost offers an added product advantage in these region, with high water reducing chemical demand.
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In 2015, animal feed production was more than 970 million tons and shall surpass 1 billion tons over the forecast timeframe. In the animal feed industry, these products are chiefly used as feed binders and provides vital nutrients such as calcium and sodium to enhance animal health. Also, these helps in balancing the valuable bacteria in animals to endorse feed efficiency and consequently helps in increasing body animal weight by 10%.
Global lignosulfonates market share witness robust competition from substitute products such as sulfonated melamine formaldehyde, polycarboxylic ether and sulfonated naphthalene formaldehyde owing to hamper industry growth over the forecast timeframe. Also, synthetic binders such as urea-formaldehyde, bentonite & clay, wheat, guar meal & starch are product substitute for animal feed binders which may further negatively influence business growth.
However, increasing oil-well exploration in the Middle East & Africa along with escalating oil well additives demand has created new growth opportunities for lignosulfonates market size. In 2010, MEA oil production was over 23 million barrels and might exceed more than 28 million per day owing to complement industry growth.
Browse key industry insights spread across 100 pages with 146 market data tables & 14 figures & charts from the report, “Lignosulfonates Market Size By Product (Calcium, Sodium, Magnesium), By Application (Oil Well Additives, Concrete Admixture, Animal Feed Binder, Dust Control), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Application Potential, Price Trends, Competitive Market Share & Forecast, 2013 – 2024” in detail along with the table of contents:
Key insights from the report include:
- 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.
- Lignosulfonates Market will be anticipated to grow with more than 3.5% CAGR by 2024.
- 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.
- 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.
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