Nanocellulose Market Size – USD 247.2 Million in 2019, Growth - CAGR of 20.4%, Trends – High demand from developing nations.
The global Nanocellulose market is forecast to reach USD 1.08 Billion by 2027, according to a new report by Reports and Data. The market is seeing an expanded interest from the composites sector owing to its critical characteristics, including biodegradability, non-toxicity, and sustainability, along with thixotropic Nanocellulose properties. However, volatile prices of raw materials arising necessity for exploring and adopting other content as a substitute to reduce the overall cost of the operation will be hampering the demand for the market.
Cosmetics would have substantial potential for Nanocellulose across the forecast period. It is used as a synthetic covering agent for fingers, eyes, eyebrows, or eyelashes in cosmetics. The product also provides antioxidant properties and is now used in products for sun care. It is also used for wound dressings in the surgical profession and regenerative medicine. Other uses include pharmaceuticals, tobacco filter additives, computer components, electronic displays, condensers, lithium battery films, lightweight body armor, loudspeaker membranes, and ballistic glass. However, low awareness about product use and high prices may, in the coming years, somehow hamper the demand.
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Top Companies: Asahi Kasei Corporation, Sappi Ltd., Fpinnovations, Kruger Inc., CelluForce Inc., Nippon Paper Group Inc., Stora Enso, Borregard ASA, CelluComp Ltd., Oji Paper, and American Process Inc., among others.
Further Key Finding from the Report Suggestion:
- Based on product, Nano Fibrillated Cellulose generated a revenue of USD 146.4 Million in 2019 and expected to grow with a CAGR of 20.5% in the forecast period as it exhibits minimal oxygen permeability, making it suitable for various applications, such as paints coatings, food packaging, paper processing, etc.
- Based on distribution channels, the Nanocellulose market generates a revenue of around 76.2% through offline mode in 2019 of the overall business.
- The composites sector is the major contributor to the market and is forecasted to reach USD 398.0 Million by 2027. The composite industry of the North America region is the major shareholder of the Nanocellulose market, holding around 37.0% of the market in the year 2027, owing to the wide variety of applications from the automotive industry for the growing demand of composites for lightweight vehicles.
- North America dominated the market for Nanocellulose. The consistent focus of the region on cost-effective and innovative procedures adopted in the area is driving the market. The North America region held approximately 37.0% of the Nanocellulose market, followed by Europe, which held around 32.0% market in the year 2019.
Market Overview:
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The global Nanocellulose market is segmented into:
Product Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Million; 2017-2027)
- Nano Fibrillated Cellulose
- Nanocrystalline Cellulose
- Bacterial Nanocellulose
- Others
Distribution Channel Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Million; 2017-2027)
- Online
- Offline
Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Million; 2017-2027)
- Composites
- Paper Processing
- Food Beverage
- Paint Coating
- Oil Gas
- Personal Care
- Others
Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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