High Purity Lignin Market to Surpass USD 45 Million by

Selbyville, Delaware, Oct. 05, 2022 (GLOBE NEWSWIRE) —

The high purity lignin market value is set to reach USD 46 million by 2030, according to a new research report by Global Market Insights Inc. The burgeoning automobile production and the subsequent increase in consumption of carbon fibers are a few of the prominent reasons behind high purity lignin industry development.

Since carbon fiber is regarded as a key composite material used in car-making, escalating vehicle production will create a strong outlook for high purity lignin manufacturers, especially in the Asia Pacific. For example, in China, vehicle production was registered at more than 26 million units in 2021. Growing disposable income will increase automotive sales, and consequently boost high purity lignin consumption.

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Others segment registered a revenue of over USD 3 million in 2021. Other types of high-purity lignin materials include soda lignin, which is being increasingly utilized in the development of dispersants, polymer synthesis, and phenolic resins. Additionally, this product is free of sulfur and other additives. The report says that this distinct advantage will make it highly applicable in the field of material chemistry, thereby augmenting the segment forecast.

High purity lignin market from the straw source segment is anticipated to cross USD 4.5 million by 2030. High-purity lignin chemicals extracted from straw is utilized in the production of optically active lignans, ferulic acid, vanillin, and other industrial goods, indicating a widespread application scope.

Browse key industry insights spread across 177 pages with 220 market data tables & figures & charts from the report, “Global High Purity Lignin Market Size By Product Type (Kraft Lignin, Organosolv), Source (Hardwood, Softwood, Sugarcane Bagasse, Straw) Application (Binders & Adhesives, Phenol, Vanillin, Carbon…