High economies enhancing the scalability of nanocellulose manufacturing is expected to offer lucrative growth opportunities for the nanocellulose technology market
Advanced capabilities of the nano-sized composite materials and the increasing preferability of industrial manufacturers for sourcing nanocellulose is scaling up the market landscape significantly anticipated to register a CAGR rise up to 25% throughout the forecast years from 2018 to 2028.
Nanocellulose is the fundamental component of the complete cellulose structure that is naturally derived from wood, different types of plants and algae or bacteria. Nanocellulose is often used across various manufacturing processes owing to the mechanical properties allowing development of sturdier and sustainably develop end products.
The technology allows in binding and coating of products and acts as an efficient adhesive. The material also showcases properties such as biodegradability and eco-friendly applications which eliminate the hazardous process outcomes emitting greenhouse gases during manufacturing. Nanocellulose is gaining massive attention and is substituted with the chemical-based adhesives used in paints and coating and bonding composites.
The current growth status coupled with future progress trajectory of the nanocellulose technology market is precisely outlined to highlight the market attractiveness and scope. Major influencing factors primarily focus of entailing the foreseeable opportunities of the nanocellulose technology market over the forecast period.
Factors including increasing application scope of cellulose materials particularly growing adoption of nanocellulose technology by the paper and pulp processing industry, drastically growing carbon footprint by greenhouse gas emitting processing systems and procedures, increasing investments to explore sustainable and eco-friendly raw materials and rising instability of petrochemical prices are among the primary drivers accelerating the growth of the global nanocellulose technology market.
Appealing characteristics of the nano materials such as non-toxicity of the cellulose material, thixotropic and biodegradable nature are enhancing propelling the growth of the global nanocellulose technology market.
Adroit Market Research report on the global nanocellulose technology market encompasses a holistic view providing insights of the market status from 2018 to 2028, which reveals data displaying factors including market drivers, restrains, key trends, opportunities and challenges. the market assessment traces through the historic years from 2018 to 2020 standardising the base year of market share analysis as 2020.
The forecast years for market estimation span from 2021 to 2028 covering future traits and growth prospects. Also, the study provides in-depth assessment based on Porter’s five forces analysis coupled with competitive analysis positioning the key operators of the global nanocellulose technology market based on product portfolio, revenue incurred, geographic footprint and strategic initiatives prominently evaluating the players in detail.
The nanocellulose technology market poses a robust competitive landscape consisting of well-established players along with the young entrants. Also, the nanocellulose technology industry players are pursuing new markets and embarking promising opportunities with the aim of securing competitive lead against other industry players by implementing innovative strategies along with promising mergers, acquisitions of young start-ups, collaborations and deals with other industry players and partnerships to expand business presence.
Based on the product type segment, the market is split into nanofibrillated cellulose (NFC), bacterial cellulose, microfibrillated cellulose (MFC), and nanocrystalline cellulose (NCC),. The fibrillated category that is nanofibrillated cellulose and microfibrillated cellulose are anticipated to grow exponentially with a rapid rise in demand over the forecast owing to the capability of the product types to facilitate a highly strong and complex nanoporous network increasing the inclination of industry manufacturers to execute large-scale production of MFCs and NFCs.
North America and Europe are two of the most predominant regional spaces with a flourished nanocellulose technology market landscape. North America houses one of the largest consumers of nanocellulose, the United States, a developed economy with a highly robust infrastructure of consumer industries driving massive demand for nanocellulose materials.
The country has a solid aerospace market along with biopharmaceutical and healthcare sector that is constantly evolving and expanding therefore fuelling the growth of the nanocellulose technology market with a skyrocketing demand. Europe poses a gigantic nanocellulose market with massive influx of investments and government fundings to support bio-based materials along with the increasing demand from the pulp and paper processing industry.
The frontline participants in the global nanocellulose technology market are UPM-Kymmene Corporation, CelluForce, among others.
The global nanocellulose technology market houses a large number of firmly placed local players and globally acknowledged international players. In addition, the recognized industry players are bringing in a new suit of technological advanced systems and innovative strategies to retain the competitive edge in the global market.
Key Segments of the Global Nanocellulose Technology Market
Product Type Overview, 2018-2028 (USD Billion)
- Nanofibrillated Cellulose (NFC)
- Nanocrystalline Cellulose (NCC)
- Bacterial Cellulose
- Microfibrillated Cellulose (MFC)
Application Overview, 2018-2028 (USD Billion)
- Paints and coatings
- Food and Beverage
- Paper Processing
- Oil and Gas
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Europe
- Rest of South America
Middle East & Africa