Lignosulfonates Market : High product demand in the animal feed binder industry
Category: #reports  By Rahul Sankrityayan  Date: 2020-05-19
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Lignosulfonates Market : High product demand in the animal feed binder industry

Lignosulfonates industry revenue, which was estimated at USD 700 million in 2015, is slated to hit USD 973 million by 2024.” Lignosulfonates Market 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.

In terms of products, this market is divided into calcium, sodium, and magnesium lignosulfonates. Out of the three, sodium products are highly popular and are used to manufacture pellet binders and plasticizers for animal feed and concrete production, respectively. Sodium lignosulfonates market size was valued at a revenue of more than USD 290 million, and is expected to increase at a CAGR of more than 3% over 2016 to 2024.

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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.

Top Companies

  1. Tembec Inc.
  2. Sappi Limited
  3. Flambeau River Papers
  4. Nippon Paper Industries Co. Ltd.
  5. Domsjö Fabriker AB
  6. Burgo Group Spa
  7. Green Agrochem
  8. Shenyang Xingzhenghe Chemical Co. Ltd
  9. Qingdao Newworld Material Co Limited

Growth Drivers

  • Robust growth in construction sector
  • Increasing demand from animal feed industry

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Global animal feed production surpassed 970 million tons and is anticipated to cross 1 billion tons by 2024. Lignosulfonates are used as effective animal feed binders, as they balance the beneficial bacteria in animals, provide the essential nutrients to improve their gastrointestinal health, and improve feed efficacy that helps increase animal body weight. High demand for this application segment in Europe and North America will subsequently boost lignosulfonates industry growth, with a projected CAGR of more than 4% over 2016 to 2024.

Lignosulfonate market for oil well additives was valued at more than 55 million in 2015. While the presence of cost-effective substitutes is likely to hinder oil well additives industry, rising oil well exploration projects in MEA and the U.S. will help this application segment witness substantial gains.

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Key industry participants include Nippon Paper Group, Domsjö Fabriker AB, Qingdao New World Material Co. Ltd, Burgo Group S.p.A., Borregaard LignoTech, and Tembec Inc. Other notable companies include Green Agrochem, Flambeau River Papers LLC, Shenyang Xingzhenghe Chemical Co., Ltd., and Sappi Limited.
 

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About Author

Rahul Sankrityayan

Email: [email protected]   

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Technology Magazine, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experie...

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