A recent study by Triton Market Research titled ‘Global Nanocellulose Market’ comprise the Global Analysis and Forecasts by Product (Nanocrystalline Cellulose [NCC], Nanofibrillated, Microfibrillated Cellulose [MFC], Bacterial Cellulose [BC], Cellulose [NFC], Other Product Types), End-user (Oil and Gas, Paints & Coatings, Food & Beverage, Composites, Pharmaceuticals and Cosmetics, Paper Processing, Other End-users), and by Geography (Asia-Pacific, Europe, North America, Middle East and Africa, Latin America).
A collection of materials with at least one of its fibrous dimensions in nano-scale is termed as nanocellulose. It is used for consumption in multiple end-user industries, such as cosmetics, pharmaceuticals, food & beverage, and paper processing, among others.
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Triton’s research report denotes that the global nanocellulose market is likely to exhibit a CAGR of 18.21% in revenue during the predicted period 2021-2028. The market is estimated to attain revenue worth $1932.08 million by 2028.
Nanocellulose tends to provide exceptional mechanical, thermal, and structural properties, which has led to its adoption in several applications, such as composites, paper processing, and others. Moreover, there is an increase in demand for nanocellulose for material science and biomedical applications, owing to its renewable nature. Hence, the excellent properties of nanocellulose is a significant driver widening the scope and growth of the nanocellulose market globally.
However, the cost of nanocellulose differs based on its type, quality, raw material, application, and production process. Thus, the financial hurdles are hampering the overall growth of the nanocellulose market during the estimated years.
The market for nanocellulose is bifurcated into product and end-user. Based on product, the market is divided into nanocrystalline cellulose (NCC), nanofibrillated, microfibrillated cellulose (MFC), bacterial cellulose (BC), cellulose (NFC), and other product types. In terms of application, it is branched into oil and gas, paints & coatings, food & beverage, composites, pharmaceuticals and cosmetics, paper processing, and other end-users.
Geographically, North America is heading the nanocellulose market. The region’s dominance is owing to the advancement in technology and rapid economic growth. Moreover, nanocellulose is used for applications in several end-user industries, which is another factor motivating the market’s growth. For instance, the cosmetics industry is among the significant industries augmenting the use of nanocellulose. Moreover, the growing demand for face creams and hair dyes is expected to enhance the need for nanocellulose, which indicates the healthy growth of the nanocellulose market across the region.
CelluComp, University Of Maine, American Process Inc, CelluForce, Sappi Ltd, Nippon Paper Industries Co Ltd, Axcelon Biopolymers Corporation, Daicel FineChem Ltd, RISE Innventia AB, Norse Skog AG, Fiberlean Technologies, Oji Holdings Corporation, Chuetsu Pulp & Paper Co Ltd, Melodea Ltd, and Borregard are prominent companies competing in the market.
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Question & Answer: Nanocellulose Market
Question 1: What major factor is widening the scope and growth of the nanocellulose market globally?
Answer: Nanocellulose tends to provide exceptional mechanical, thermal, and structural properties, which has led to its adoption in several applications, such as composites, paper processing, and others. Moreover, there is an increase in demand for nanocellulose for material science and biomedical applications, owing to its renewable nature.
Hence, the excellent properties of nanocellulose is a significant driver widening the scope and growth of the nanocellulose market globally.
Question 2: What factors are hampering the overall growth of the nanocellulose market?
Answer: The cost of nanocellulose differs based on its type, quality, raw material, application, and production process. Thus, the financial hurdles are hampering the overall growth of the nanocellulose market during the estimated years.
Question 3: Which region is the heading the nanocellulose market?
Answer: Geographically, North America is heading the nanocellulose market. The region’s dominance is owing to the advancement in technology and rapid economic growth. Moreover, nanocellulose is used for applications in several end-user industries, which is another factor motivating the market’s growth. For instance, the cosmetics industry is among the significant industries augmenting the use of nanocellulose. Moreover, the growing demand for face creams and hair dyes is expected to enhance the need for nanocellulose, which indicates the healthy growth of the nanocellulose market across the region.
Question 4: Which are the prominent companies competing in the nanocellulose market?
Answer: CelluComp, University Of Maine, American Process Inc, CelluForce, Sappi Ltd, Nippon Paper Industries Co Ltd, Axcelon Biopolymers Corporation, Daicel FineChem Ltd, RISE Innventia AB, Norse Skog AG, Fiberlean Technologies, Oji Holdings Corporation, Chuetsu Pulp & Paper Co Ltd, Melodea Ltd, and Borregard are prominent companies competing in the market.
Related Report:
Global Carbon Nanotubes Market
The global carbon nanotubes market is likely to surge at a CAGR of 15.31% during the calculated period of 2019-2028, while garnering $18.76 billion in revenue by 2028.
Nanotubes have proved to play a significant role in technological advancement in multiple fields, such as electronics, medicines, and engineering. Carbon nanotubes possess high electronic conductivity, and are mainly utilized for manufacturing composite material to enhance mechanical, thermal, and electric properties of base materials.
The technological advancements in carbon nanotubes and the rise in the potential of carbon nanotubes in electrical applications, are majorly driving the studied market’s progress worldwide. Additionally, the potential use of carbon nanotubes in the energy sector is creating several growth opportunities for the carbon nanotubes market.
However, the hazardous nature of carbon nanotubes necessitates policies and regulations by the government, which is negatively impacting the global carbon nanotubes market’s further to a large extent.
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