Nanocellulose Market Size is Estimated to be USD 1.08 Billion and Grow at a CAGR of 20.40% to 2027 | Reports and Data

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An increase in the application of cellulosic materials in the paper & pulp manufacturing sectors coupled with rising environmental concerns are drives Growth

NEW YORK CITY, NEW YORK, UNITED STATES, November 25, 2022 /EINPresswire.com/ -- The global Nanocellulose market is forecast to reach USD 1.08 Billion by 2027, according to a new report by Reports and Data. The market is seeing an expanded interest from the composites sector owing to its critical characteristics, including biodegradability, non-toxicity, and sustainability, along with thixotropic Nanocellulose properties. However, volatile prices of raw materials arising necessity for exploring and adopting other content as a substitute to reduce the overall cost of the operation will be hampering the demand for the market.

Cosmetics would have substantial potential for Nanocellulose across the forecast period. It is used as a synthetic covering agent for fingers, eyes, eyebrows, or eyelashes in cosmetics. The product also provides antioxidant properties and is now used in products for sun care. It is also used for wound dressings in the surgical profession and regenerative medicine. Other uses include pharmaceuticals, tobacco filter additives, computer components, electronic displays, condensers, lithium battery films, lightweight body armor, loudspeaker membranes, and ballistic glass. However, low awareness about product use and high prices may, in the coming years, somehow hamper the demand.

Nano fibrillated cellulose held the highest share in the overall market in 2019. They possess exceptional properties, including superior strength, lightweight, transparency, and rigidity, among others, which makes them viable for many commercial applications across composites, oil & gas, food & beverage, automotive, aerospace, and personal care industries. Nano-fibrillated cellulose could also be a future replacement for plastic films in composite packaging due to the low oxygen permeability.

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Key Players - Asahi Kasei Corporation, Sappi Ltd., Fpinnovations, Kruger Inc., CelluForce Inc., Nippon Paper Group Inc., Stora Enso, Borregard ASA, CelluComp Ltd., Oji Paper, and American Process Inc., among others.

Further key findings from the report suggest

Based on product, Nano Fibrillated Cellulose generated a revenue of USD 146.4 Million in 2019 and expected to grow with a CAGR of 20.5% in the forecast period as it exhibits minimal oxygen permeability, making it suitable for various applications, such as paints & coatings, food packaging, paper processing, etc.
Based on distribution channels, the Nanocellulose market generates a revenue of around 76.2% through offline mode in 2019 of the overall business.
The composites sector is the major contributor to the market and is forecasted to reach USD 398.0 Million by 2027. The composite industry of the North America region is the major shareholder of the Nanocellulose market, holding around 37.0% of the market in the year 2027, owing to the wide variety of applications from the automotive industry for the growing demand of composites for lightweight vehicles.
North America dominated the market for Nanocellulose. The consistent focus of the region on cost-effective and innovative procedures adopted in the area is driving the market. The North America region held approximately 37.0% of the Nanocellulose market, followed by Europe, which held around 32.0% market in the year 2019.

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Product Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Million; 2017-2027)

Nano Fibrillated Cellulose
Nanocrystalline Cellulose
Bacterial Nanocellulose
Others

Distribution Channel Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Million; 2017-2027)

Online
Offline

Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Million; 2017-2027)

Composites
Paper Processing
Food & Beverage
Paint & Coating
Oil & Gas
Personal Care
Others

Key Regional Markets Covered in the Report:

North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)

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Key Questions answered by the Report:

What is the expected year-on-year growth of the during the forecast period?
What key trends are expected influence revenue growth of the market going ahead?
Which region is expected to account for largest revenue share over the forecast period?
Which key companies are profiled in the report?

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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