Global Lignin Market Analysis, Size, Trends
The global lignin market was valued at USD 1.08 billion in 2023 and is projected to grow at a CAGR of 4.5% from 2024 to 2030. The rising demand for lignin in animal feed and natural products is expected to drive this growth. Lignin is extensively used in producing macromolecules for bitumen, biofuels, and bio-refinery catalysts, further boosting market expansion. However, the COVID-19 pandemic negatively impacted the market due to manufacturing facility shutdowns, supply chain disruptions, and logistical challenges. The industry faced setbacks from workforce shortages, raw material supply issues, and fluctuating consumer demand.