DUBLIN, July 27, 2021 /PRNewswire/ — The “Lignin – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Lignin Market to Reach US$1.1 Billion by the Year 2027
Amid the COVID-19 crisis, the global market for Lignin estimated at US$864.7 Million in the year 2020, is projected to reach a revised size of US$1.1 Billion by 2027, growing at a CAGR of 3% over the analysis period 2020-2027.
Lignosulfonates, one of the segments analyzed in the report, is projected to grow at a 3% CAGR to reach US$908.7 Million by the end of the analysis period.
After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Kraft Lignin segment is readjusted to a revised 2.5% CAGR for the next 7-year period. This segment currently accounts for a 8.9% share of the global Lignin market.
The U.S. Accounts for Over 27.1% of Global Market Size in 2020, While China is Forecast to Grow at a 4.8% CAGR for the Period of 2020-2027
The Lignin market in the U.S. is estimated at US$234.4 Million in the year 2020. The country currently accounts for a 27.11% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$204.7 Million in the year 2027 trailing a CAGR of 4.8% through 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.8% and 2.5% respectively over the 2020-2027 period. Within