Market Analysis
The global nanocellulose market is likely to grow at a healthy CAGR of 19.9% during the forecast period., as per the new Market Research Future (MRFR) report. Nanocellulose is a solid material that is lightweight and derived from plant matter that contains nano-sized cellulose fibrils. Owing to its excellent features, it has a wide range of applications, including oil and gas, paper and board, personal care, composites and packaging, paints and coatings, and others.
Various factors are adding to the global Nanocellulose Market growth. These factors, according to the new MRFR report, include burgeoning demand for biodegradable material, expanding paints and coatings sector, increasing disposable income, especially in developing economies, and rapid urbanization. Additional factors adding market growth in the region include increasing crude oil production worldwide, growing oil and gas industry, expanding cosmetics market, improving living standards, and increasing automotive production sales.
On the contrary, lack of technological advances and high cost of research and development are factors that may limit the nanocellulose market growth over the forecast period.
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Increasing demand for the product in various applications such as anti-microbial films, water absorbent pads, and others signifies the growth of medical sectors. Moreover, growing consumption of product due to unique features offered by the product such as lightweight, electrically conductive, non-toxic, high tensile strength, transparent, and other features provide a boost to the Nanocellulose market growth.
On the other hand, high consumption potential, expanding production capacities and improving life style are the major factors and trends which are projected to propel the market growth during the forecast period.
Nanocellulose is used in various end-use industries such as composites packaging, paper board, paints coatings, oil gas, personal care, and others. It is also utilized as a solid material for packaging the food from spoilage, and other factors. The increasing personal care concerns and changing lifestyles has fuelled the demand for the product in cosmetics and personal care sectors. Additionally, the growing research development to create bio-based products in the established industries have resulted into a remarkable growth in the market during the forecast period.
Nanocellulose Market- Competitive Landscape
The Nanocellulose market appears to be competitive with the presence of several large and small players operating in manufacturing and development of product. These key players compete with each other’s on the basis of quality, price, production and innovation. Nanocellulose market is set to grow at a significant rate which is likely to attract many entrants to the market resulting into healthy competition in the future. Manufacturers operating in the Nanocellulose market are striving to respond to an increase in demand for the product from packaging, paints coatings, composites packaging, and other sectors attributed to growing production capacity in major sectors. They ensure to deliver the best quality products based on innovative technologies, solutions and best practices.
Top Players Analysis=
DAICEL FINECHEM LTD (JAPAN), NIPPON PAPER INDUSTRIES CO., LTD. (Japan), Borregaard (Norway), CelluForce (U.S.), Sappi Ltd. (South Africa), Kruger Inc. (Canada), STORA ENSO (Finland), American Process Inc. (U.S.), UPM (Finland), and J. RETTENMAIER SÖHNE GmbH + Co KG (Germany), among others are some of the prominent players at the forefront of competition in the Global Nanocellulose Market and are profiled in MRFR Analysis.
Global Nanocellulose Market: Segmental Analysis
The nanocellulose market has been segmented on the basis of type and application.
By mode of type, the global nanocellulose market has been segmented into nanocrystalline cellulose (NCC), nanofibrillar cellulose (NFC), and bacterial cellulose (BCC). Among these, the nanofibrillar cellulose has gained prominence in the last few years owing to its economic value, renewability, low density, high mechanical properties, and biodegradable properties.
By mode of application, the global nanocellulose market has been segmented into paper board, composites packaging, oil gas, paints coatings, personal care, and others. Among these, the composites and packaging segment is considered to create lucrative opportunities owing to the growing paper and paperboard packaging activities across the globe.
Regional Analysis
The global nanocellulose market is regionally distributed into five regions, namely Europe, Latin America, North America, Asia Pacific, and the Middle East Africa.
North America is the leading market holder of nanocellulose market in the global landscape. North America is expected to witness a decent growth during the forecast period due to high consumption potential, increasing economic growth rate, and rising production capacities. Countries like the US and Canada are the major contributors to the global dominance of North America and is anticipated to garner significant demand in the coming years.
The European regional market is expected to gain traction and expand during the forecast period as well. This is primarily because of the surging demand from European countries like Poland, Italy, France, Russia, the UK, Spain, Germany, and Russia. The demand can be attributed to the rising level of expenditure in innovation and an increase in the purchasing power of the consumers. The Latin American region is also reported to witness a period of growth during the review period due to the presence of countries like Colombia, Argentina, and Colombia and a rising consumer expenditure on personal and cosmetic products. Lastly, the Middle Eastern and the African region is also expected to witness massive growth due to the booming oil and gas industry.
Among these regions, the Asia Pacific region is calculated to grow with the highest CAGR during the forecast period due to the growth and expansion of packaging composites and the automotive industry. The nanocellulose market growth in this region is expected to increase in proliferating fashion due to the increasing demand from the various residing countries herein, namely Thailand, China, South Korea, Vietnam, India, Malaysia, Bangladesh, and Japan. The demand can be attributed to the growing middle-class population and an inclination towards purchasing light weight automobiles. Some of the other drivers of the market in the Asia Pacific region are advancing technologies, high rate of adoption, cheap set-up cost, availability of cheap labor raw materials, and moderately strict regulatory framework.
Industry/ Innovation/ Related News:
February 17, 2015 – CelluForce (U.S.), one of the leading producers of Nanocellulose, declared that the company has accepted a contribution of $4 million from Sustainable Development Technology Canada (SDTC) to improve the extraction process of cellulose from wood pulp and produce applications in the oil gas sector, where the product can be used extensively. These changes are expected to create a better product than before. One of the sources of the company also announced that the product can be utilized in immensely in oil gas applications. Therefore, these factors are expected to drive the market over the assessment period.
March 12, 2015 – Sappi Ltd. (South Africa), one of the leading producers of Nanocellulose, declared that the company has chosen Brightlands Chemelot Campus in the Netherlands to build a pilot plant for the production of Nanocellulose. This plant was said to be operational within nine months. One of the sources of the company also announced that the raw material for generation of product were supplied by any of any of Sappi’s Saiccor, Ngodwana and Cloquet dissolving wood pulp plants. Therefore, these factors are expected to drive the market due to growing demand in end-use industries over the assessment period.
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