Nanocellulose Market Size is Estimated to be USD 1.08 Billion and Grow at a CAGR of 20.40% to 2027 | Reports and Data
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
Distribution Channel Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Million; 2017-2027)
Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Million; 2017-2027)
Food & Beverage
Paint & Coating
Oil & Gas
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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