The global nanocellulose technology market is en route a successful growth trajectory and is also expected to secure a hefty revenue growth close to USD 1.5 billion by the year 2028 projecting a CAGR growth of 25% over the forecast period from 2018 to 2028. The large expansion of the market growth can be attributed to the increasing environmental concerns and awareness of the eco hazardous industrial and non-industrial components coupled with the momentum gained by sustainable utilization of products which are encouraging the growth of the global nanocellulose technology market.
The global Nanocellulose Technology market is anticipated to increase at a 20.71% CAGR to reach value USD 1.29 Billion in 2028
Also, a significant rise in the demand for bio-based products allowing a considerable reduction in carbon footprint is ultimately accelerating the demand for nanocellulose nudging the market towards scope for scaling up the production and advancement in nanocellulose technology.
One of the key challenges thwarting growth in the global nanocellulose market is the high pricing. Despite existing loopholes and gaps threating overall market fortification in the global nanocellulose market, thriving opportunities in the military applications owing to growing complexities have necessitated reliance on advanced materials for diverse defense applications.
Owing to characteristic features of nanocellulose such as high versatility, global nanocellulose market is nearing rampant end-user applications, thus stumbling upon novel growth avenues throughout the forecast span. Additionally, advanced efforts towards environment remediation are furthering exponential opportunities.
Nanocellulose technology refers to complex cellulose structure composed of several nanosized cellulose particles. Nanocellulose forms the fundamental building block of the natural cellulose material available in the market within the nanometer dimension that is 10-9 meter. The component is naturally occurring complex structure extracted from the cellulose of wide variety of plants, woods/trees and even microorganisms such as algae and bacteria.
Nanocellulose has become an important raw material across various industrial processing and manufacturing applications owing to its capabilities such as desired mechanical properties, appropriate levels of viscosity, forming properties contributing to its appealing features and characteristics encouraging mnaufcaturers to opt for the rather sustainable choice of material.
Biomedical products, electronics and electric components, nanocomposite materials, supercapacitators, electroactive polymers and batteries are among the vast-ranging product manufacturing fields that essentially drive the demand for nanocellulose technology. Nanocellulose technology also provides product designers and manufacturers an environmentally friendly alternative to otherwise conventionally applied binding agents, film binders and adhesives with a relatively stronger bio-hazard profile.
For instance, nanocellulose technology is popularly used in paper products as it enhances the bonding strength between two fiber layers or composites thus acting as a membrane with no permeability in grease-proof papers. Nanocellulose also helps scale up the retention properties of a material whilst enhancing the wet and dry strength of paper and board products.
Global nanocellulose market players are firmly placed alongside the emerging number of young entrants flooding into the market with the sole purpose of disrupting the traditional technological models and systems of extraction and upstream models as well as downstream production processes. The growing threat of the young industry players along with the surging technological advancements with fast-paced market upgradation has led to market consolidation.
The major players of the global nanocellulose technology market are Axcelon Biopolymers Corporation, Borregaaard, Stora Enso and Sappi Global, UPM-Kymmene Corporation, Oji Holdings Corporation, CelluForce, Melodea, American Process, Innventia AB, FiberLean Technologies, and Nippon Paper Industries.
Global nanocellulose technology market is composed of diverse competitive landscape with well-flourished local players accompanied by global industry participants. Additionally, the previously identified market players are introducing a series of new and innovative strategic solutions along with novel technologies to remain competitive in the global market.
Nanocellulose Technology Market Scope
|Revenue forecast in 2028
|USD 1.29 Billion
|CAGR of 20.17% during 2018-2028
|Product Type, Application, Regions
|North America, Europe, Asia Pacific, Middle East and Africa, South America
|Key Players Profiled
|Axcelon Biopolymers Corporation, Borregaaard, Stora Enso and Sappi Global, UPM-Kymmene Corporation, Oji Holdings Corporation, CelluForce, Melodea, American Process, Innventia AB, FiberLean Technologies, and Nippon Paper Industries
Key Segments of the Global Nanocellulose Technology Market
Product Type Overview (USD Billion)
- Nanofibrillated Cellulose (NFC)
- Nanocrystalline Cellulose (NCC)
- Bacterial Cellulose
- Microfibrillated Cellulose (MFC)
Application Overview (USD Billion)
- Paints and coatings
- Food and Beverage
- Paper Processing
- Oil and Gas
Regional Overview (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East & Africa
Frequently Asked Questions (FAQ) :