Global Lignosulfonates Market: Overview
Lignosulfonates is one of the most abundantly available wood chemicals across the globe. Lignosulfonates is majorly obtained as a by-product from a sulfite processing of wood pulp. The rising emphasis of key players on the expansion of the application base is anticipated to encourage the growth of the global lignosulfonates market throughout the forecast period. Some of the key industries boosting the demand for lignosulfonates, such as oil and gas, chemicals, construction, animal feed additives, and ceramics.
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Global Lignosulfonates Market: Key Trends
The rising demand from the animal feed industry is one of the key factors expected to encourage the growth of the global lignosulfonates market in the next few years. In addition, the rapid growth of the construction industry is anticipated to accelerate the growth of the overall market in the forecast period. On the other hand, the potential threat from product substitution is anticipated to restrict the growth of the global lignosulfonates market in the coming years. Nevertheless, the rising demand for animal feed binder, especially from developing economies is projected to generate promising opportunities for key players operating in the market across the globe.
Global Lignosulfonates Market: Market Potential
The growing demand for oil well additives, especially in the Middle East and Africa is expected to create promising opportunities for the prominent players operating in the global lignosulfonates market. Furthermore, the commercialization of key products of lignosulfonates is projected to fuel the growth of the overall market in the next few years. The increasing competition in the market is estimated to enhance the product portfolio and attract a large number of consumers in the near future.
Global Lignosulfonates Market: Regional Outlook
In the last few years, North America held a massive share of the global lignosulfonates market and is projected to maintain its topmost position throughout the forecast period. The high growth of this region can be attributed to the presence of a large number of animal feed mills in the U.S. As a result, the production of the finished animal feed is anticipated to increase tremendously, which is likely to encourage the growth of the North America market in the near future.
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On the other hand, the Asia Pacific market for lignosulfonates is likely to witness a substantial growth in the next few years. The rising contribution from Japan and India is estimated to augment Asia Pacific market in the forecast period. Moreover, the rising demand for animal feed from China is predicted to accelerate the growth of the market in the near future.
Global Lignosulfonates Market: Competitive Analysis
The global lignosulfonate market is characterized by a high level of consolidation, owing to a few prominent players who are accounting for a key share of the global market. These players are making remarkable efforts to maintain their position in the global market and expand the application base across diverse industries. In addition, the enhancement of their distribution channels so as to reach a large scale of audience is projected to encourage the growth of the overall market in the next few years.
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Some of the leading players operating in the lignosulfonate market across the globe are Domsjö Fabriker AB, Shenyang Xingzhenghe Chemical Co., Ltd., Green Agrochem, Flambeau River Papers LLC, Tembec Inc., Burgo Group S.p.A., Sappi Limited, Borregaard LignoTech, Nippon Paper Industries Co., Ltd., and Qingdao New World Material Co. Ltd. A rise in the number of players in the coming years is expected to increase the competition among the leading players across the globe.