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"Global Nanocellulose Market was Valued at US$ XX Mn in 2019 and it is Expected to Reach More than US$ 1422 Mn by 2028, Likely to Grow with the CAGR of 18.8% During the Forecast Period."
Nanocellulose is bio-based products which are obtained from plant matter and comprise of nanosized cellulose fibrils. It possesses excellent features which include biodegradability, easily disposable, high strength, lightweight, good barrier properties, non-toxic, etc. which makes it highly preferable across several end-user industries such as composites, paints & coatings, oil & gas, food & beverage and personal care.
Superior Properties With Regards To Structural and Material Properties Along With the Rising in Demand for Eco-Friendly Bio-Based Sustainable Products Is Anticipated To Drive the Demand for Nanocellulose
Nanofibrillated cellulose, bacterial nanocellulose, and nanocrystalline cellulose have been important and useful materials to produce cellulose-based packaging materials. The large specific surface areas of cellulosic nanomaterials enable them to form hydrogen bonds to create a dense network that provides a high barrier against contamination. Furthermore, the unique properties of the product have made it a crucial material for reinforcing plastics. Some exceptional characteristics of the product include improved dispersion and stabilization of particles, extreme shear thinning and fast viscosity recovery, etc.
Furthermore, companies operating in the global market are investing heavily in R&D to develop application-specific finished products which are further estimated to bolster market expansion during the forecast period. Additionally government support, a large number of capital investors along with efficient supply chain will also play a key role to increase market penetration globally.
The Nanofibrillated cellulose Segment is Expected to Dominate the Nanocellulose Market During the Forecast Period
Nanofibrillated cellulose was the largest segment, accounted for over 55% of the global revenue share of the Nanocellulose market in 2019 and this trend is expected to continue over the forecast period. Very low oxygen permeability nanofibrillated cellulose which makes it highly desirable for a range of applications including paper processing, food packaging, paints & coatings, etc.
Nanofibrillated cellulose is a renewable resource that provides high strength and stiffness, are biodegradable, have high surface area and aspect ratio, are lightweight, have high reactivity, and provide barrier properties. Thus all these factors nanofibrillated Cellulose segment is projected to be the largest segment.
The Oil & Gas Industry Segment Is Expected To Witness Highest Growth In The Global Nanocellulose Market Across The Globe
The oil & gas industry segment is estimated to be a substantial share in the application segment of the Nanocellulose market is projected to grow at the highest rate in the Nanocellulose market during the forecast period. The segment is likely to expand at a CAGR of over 20% in the coming years, which will result in a huge potential market for product application over the next few years.
Furthermore, Nanocellulose is being increasingly used as a substitute for current flooding systems in Enhanced Oil Recovery (EOR) owing to its viscoelastic properties with superior shear-thinning behavior along with being environment-friendly by nature. It is gaining prominence as a flooding agent in the oil & gas industry. For instance, In March 2015, Schlumberger and CelluForce and announced collaboration in developing applications for nanocrystalline cellulose in oil and gas drilling fluids.
However, pulp & paper is projected to be the largest segment as the nitrocellulose can be used as an additive in papermaking to produce lighter and stronger paper and board. Papers produced from nanocellulose are expected to have a higher filler content of approximately 80%, which could be a possible substrate for printed electronics.
The Market in Europe is projected to Dominate to in Nanocellulose Market over the Forecast Period
In 2019, Europe is anticipated to hold above 45% market share in global Nanocellulose market in terms of volume and is expected to grow at CAGR of xx % over the forecast period.Europe has well established and one of the largest pulp & paper industries in the world pulp and paper industry. European Union for developing alternative biodegradable, eco-friendly alternatives to plastics is expected to help Europe its hold over the global nanocellulose market over the forecast period.
In addition, the European nanocellulose market has a competitive position in the global market. This competitive position of the region is influenced by the business environment as well as the regulatory framework. A strong, competitive, and diversified industrial manufacturing value chain has proved vital for the growth of the nanocellulose materials market in Europe.
While North America is expected to hold a significant share the nanocellulose market during the forecast period owing to the growing oil & gas industry in North America along with the availability of abundant oil reserves will help to drive nanocellulose market demand in the coming years.
Some of the key players in the global Nanocellulose market are CelluComp, Asahi Kasei,Daicel, Asahi Kasei Corporation, Oji Paper, BASF AG, and Celluforce, Rettenmaier & Sohne, Laboratory scale manufacturers of nanocellulose include Innventia, Borregaard, Nippon Paper and Stora Enso.
Nanocellulose Market Key Segments:
Nanocellulose Market, By Type
- Nanocrystalline Cellulose
- Nanofibrillated Cellulose
- Bacterial Nanocellulose
Nanocellulose Market, By Application
- Pulp and Papers
- Biomedical and Pharmaceutical
- Composites and Packaging
- Electronic Sensors
- Oil &Gas
Nanocellulose Market, By Region
- North America
- Asia Pacific
- Middle east and Africa
- Latin America