QY Research recently published a report, titled, “Global Nanocellulose Market Research Report 2019”. The report is an in depth analysis of the global nanocellulose market by experts to provide a comprehensive understanding of the market. The report uses primary and secondary research methodologies throughout to provide accurate facts and figures. The report comprises detailed information on the various areas of the market for clearer understanding of the ever-changing market dynamics.
The global nanocellulose market was valued at US$342.01 mn in 2018 and is expected to reach US$708.94 mn by the end of 2025, rising at a CAGR of 15.26% during 2020-2025.
Global Nanocellulose Market: Drivers and Restraints
The global nanocellulose market is expected to grow due to its increasing demand in various industries like food, pharmaceuticals, cosmetics, and automotive. The nanocellulose is a plant derived pseudo-plastic material with superior properties like high water binding capability, thermal stability, lightweight, and dimensional stability. These properties makes it an excellent material for applications such as oil and gas, paper and board, composites and packaging, paints and coatings, and personal care products. The nanocellulose is a plant-based material which is expected to play a major role in making it biodegradable materials for easy and safe disposal.
The consistently high demand for crude oil and gas is expected to drive the global nanocellulose market. Other factors like rapid urbanisation, improvement in living standards, expanding cosmetics market, and automotive production and sales are also expected to further fuel the demand of the nanocellulose. The demand for biodegradable material is also expected to contribute towards market growth.
Global Nanocellulose Market: Segment Analysis
The global nanocellulose market consist of two segments, type and application. The type segment include nanocrystalline cellulose (NCC), nanofibrillated cellulose (NFC), and bacterial cellulose. The application segment include composites materials, hygiene and absorbent products, paper and board, food products, and others.
Global Nanocellulose Market: Regional Outlook
Due to the high consumption potential, increasing economic growth rate, and rising production capacities, North America has emerged as the largest market for nanocellulose. It is closely followed by other regions like Europe and Asia Pacific. Analysts predict Asia Pacific is expected to grow in an unprecedented manner with cheap set up manufacturing facilities, inexpensive labour, and raw material.
Global Nanocellulose Market: Key Players
The major manufacturers and shareholders in the global nanocellulose market includes Fiberlean, Kruger, Borregaard, Paperlogic, Nippon Paper, Celluforce, University of Maine, American Process, Oji Paper, and Inventia.
Global Nanocellulose Market: Competitive Landscape
CelluForce following the completion of a major upgrade project has restarted operations at its Cellulose NanoCrystals (CNC) plant. The production capacity of the plant is 300 tonnes per year. The aim of this plant is to explore the new biomaterial product. This products is also aimed at reducing the company’s carbon footprint. The research and development of the plant has created wide range of possible applications for CNC. The plant will also work as a blueprint for the future plant designs.
This plan will help the company to remain a strong contender, decrease their carbon footprint, and increase their market share. CelluForce is also investing in research and development to keep up with the market and bring in innovations. Such strategic initiatives are expected to propel the global nanocellulose market in future in the upward direction.
Full Report Overview@ https://www.qyresearch.com/index/detail/1243630/global-nanocellulose-market