The global sodium lignosulfonate market is projected to reach US$ 535 million in valuation by 2033, up from its present market size of US$ 377 million in 2023. This is because global demand for sodium lignosulfonate is estimated to increase at a CAGR of 3.5% during the forecast period (2023 to 2033).
Rising development of residential as well as non-residential structures and the requirement of lignosulfonate as an oil additive in the oil & gas industry are predicted to fuel target market growth. In addition, increasing demand for concrete admixtures in the construction industry is also bolstering market expansion.
The imbalance in the demand and supply of lignosulfonate is having a direct impact on its use to produce oil well additives. Various financially unstable companies are capitalizing on government schemes and programs that are offered by the Banking, Financial Services, and Insurance (BFSI) sector to enrich their product portfolios. These companies are resorting to mergers & acquisitions to gain higher profits in the market.
Asia Pacific is anticipated to experience significant growth opportunities owing to increasing expenditure on construction activities in China, Japan, and India. Furthermore, North America is projected to hold a noteworthy share of the global market due to the presence of prominent animal feed mills in the United States.
Key Takeaways from Market Study
- Sales of sodium lignosulfonate are estimated to increase at a CAGR of 3.5% during the forecast period from 2023 to 2033.
- The global sodium lignosulfonate market is forecasted to reach a valuation of US$ 535 million by the end of 2033.
- The market stands at US$ 377 million in the year 2023.
- The Canadian market is projected to advance at a CAGR of 2.6% from 2023 to 2033.
- The market in Germany is anticipated to progress at a CAGR of 1.7% through 2033.
“Rising development of residential as well as non-residential structures, requirement for concrete admixtures in the construction industry, and high demand for lignosulfonate as an oil additive in the oil & gas industry are predicted to drive the growth of the sodium lignosulfonate market,” says a Fact.MR analyst.
Key Market Players
Key market players are investing at an increased rate in new development and improving facilities for supply chain management. Manufacturers are also putting efforts to maintain product quality while adhering to safety regulations and causing minimal environmental impacts.
Key Companies Profiled
- Borregaard LignoTech
- Burgo Group SpA
- Nippon Paper Industries Co., Ltd.
- Rayonier Advanced Materials
- Sappi Ltd.
- Green Agrochem
- Flambeau River Papers
- Qingdao New World Material Co. Ltd