Kraft Lignin Market worth 8% CAGR by 2027
" COVID-19 impact on Kraft Lignin market, size, share, growth, industry analysis, and forecast 2021-2027 "
Kraft lignin is recognized as an emerging product market of lignin. It is made from the process of sulfate cooking in kraft paper production. This type of lignin has a wide area of application products that are considered mid-range in respect to the prices. They are presently available from pulp and paper producers in ample quantity to meet the expected industrial demand.
Kraft lignin is one of the major renewable raw materials for the production of carbon fibers. Kraft lignin is changed into carbon fiber by melt spinning process and consumes less time, as compared to other raw materials. Another advantage of kraft lignin-based carbon fiber is a prominent decrease in manufacturing costs. Hence, the demand for carbon fiber in several applications is, in turn, fueling the demand for kraft lignin. Carbon fibers are mostly being used in several industries due to their high strength and lightweight property. Moreover, carbon fiber is utilized in lightweight CNG tanks, which are used in natural gas-driven automobiles. The renewable energy market is growing drastically across the globe, fuelled by numerous parameters, including rising CO2 emissions, growing ozone depletion, restricted fossil fuel resources, and fuel efficiency.
Furthermore, the implementation of stringent government regulations associated with decreasing vehicle weight increases the demand for kraft lignin as kraft lignin is used in the carbon filters, and these carbon filters are used in automotive industries. Thus, this factor provides opportunities for market growth.
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The Kraft Lignin Market research report titled “Kraft Lignin Market by Types, Application, and Geography – Global Forecast up to 2027”
Few major players in the domain of kraft lignin are Resolute Forest Product, Rayonier Advanced Material, Nippon Paper Industry Co. Ltd, Domtar Corporation, and Upm Biochemicals.
North America region has the leading position in the market due to the stable recovery of oil prices is projected to increase the drilling processes in the region, in turn escalating the demand for lignosulphonates in the oil and gas industry.
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The report consists of 76 Tables and 46 charts depicting the in-depth market study and the impact analysis of COVID-19.
Kraft Lignin Market on the basis of Types
- Softwood Kraft Lignin
- Hardwood Kraft Lignin
Kraft Lignin Market on the basis of Application
- Fertilizers & Pesticides
- Binders & Resins
- Phenol & Derivatives
- Activated carbon
- Carbon fibers
- Other Applications
Kraft Lignin Market on the basis of Geography
- North America
- Asia Pacific
- Rest of the World