Nanocellulose referred as a material derived from the wood fibers. It is completely renewable and perfect to make the light & solid body armor. It is used to make super versatile displays. It is a material made by nano-sized cellulose fibers with high length to width ratio. It has broad varying applications owing to its properties of being lightweight, electrically conductive, stiffer than Kevlar, excellent tensile strength, non-toxic, and others. It finds huge demand in various sectors like healthcare, biomedical, and packaging & composites segments.
As per study, “Nanocellulose Market by Type and Application – Global Industry Analysis and Forecast to 2025” key companies operating in the global nanocellulose market include American Process Inc., Chuetsu Pulp & Paper Co. Ltd., Ashai Kasei Chemicals Corporation, Innventia AB, Borregaard Chemcell, Stora Enso Ltd., Daicel Corporation, Kruger Inc., Daio Paper Corporation and Imerys.
By product type, nanocellulose market is bifurcated as Bacterial Nanocellulose (BNC), Cellulose Nanocrystals (CNC), Nanofibrillated Cellulose (NFC) and others. BNC segment dominates the global market owing to rise in demand for cosmetics and food & beverage industry. Additionally, NFC segment is likely to witness higher growth rate due to its nano-scale dimensions & ability to form a sturdy entangled nanoporous network during the forecast period. In addition, by application, market is bifurcated as electronics & sensors, pulp & paper, rheology modifier, composites & packaging, biomedical & pharmaceuticals and others.
The nanocellulose market is driven by growth in technological developments in the manufacturing procedures, followed by increase in investment in research & development activities and growth in oil & gas industry. However, availability of technical barriers, lack of awareness and shortage of scientific experts may impact the market. Moreover, increase in disposable income and rise in crude oil production are key opportunities for market. Furthermore, economic barriers are expected to pose a great challenge to the growth of global nanocellulose market in coming years.
By geography, the Asian-Pacific region is the dominant region in global nanocellulose market due to growth of composites & packaging industry in the region. The market for nano-cellulose is expected to increase, due to growing medium-sized population coupled with growth of light vehicle sales in various countries of Asia Pacific including Vietnam, Thailand, China, India, Malaysia, Bangladesh and South Korea. North-American region is Europe and Asia Pacific region’s main consumer in nanocellulose. It is anticipated that North America will be modest in growth because of high demand prospect, increased manufacturing efficiency and accelerated economic growth. Countries like U.S. and Canada are major contributors to regional growth in the North American market. Additionally, the European region is estimated to witness higher growth rate caused by rise in product spending & customer buying forces in specific nations, for instance Poland, Germany, Spain, Italy, UK, France and Russia. It is anticipated that future of the global market will be bright on account of growth in adoption of various types of nanocelluose materials in various industries during the forecast period.
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Ankur Gupta, Head Marketing & Communications