The Increase in Consumer Demand for Eco-friendly Products in the Personal Care and Food & Beverage Products Is Driving the Demand for Nanocellulose Market.
Hyderabad, India - July 20, 2021 /MarketersMedia/ —
Nanocellulose Market size is forecast to reach $855.4 million by 2026, after growing at a CAGR of 18.5% during 2021-2065. Nanocellulose is a lightweight substance obtained from plant matter, which comprises nano-sized cellulose fibrils. Cost efficiency and availability of raw material, such as cellulose, further improve the product supply scenario, which is likely to drive the growth of the Nanocellulose market size.
The growing demand for atomic force microscopy, magic angle spinning, nuclear magnetic resonance, transmission electron microscopy from the food science, healthcare, aerospace, marine, and oil and gas sector also propels the Nanocellulose market share globally. Whereas increasing demand for medical applications such as bio-polymers, bio-barriers, sanitary napkins, wound dressing, and tampons are expected to drive market growth over the forecast period.
Nanocellulose Market Segment Analysis - By Type
Nano Fibrillated Cellulose (NFC) or Micro Fibrillated Cellulose (MFC) or Cellulose Nanofibrils (CNF) held the largest share of more than 30% in the Nanocellulose market in 2019. The nano-scale dimensions and the ability to form a strong entangled nano-porous network of CNF makes it suitable to use across various applications. CNF consists of expanded high-volume cellulose, which is moderately degraded and greatly expanded in surface area. Unlike CNC, CNF displays both amorphous and crystalline parts and presents a web-like structure.
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Nanocellulose Market Segment Analysis - By Material
Wood Pulp segment held the largest share of more than 35% in the market in 2019. Wood Pulp is mostly used to produce Nanocellulose, by removing non-cellulose impurities such as lignin using a Gaulin milk type homogenizer.
CNF produced from wood pulp are light & strong, have a lower thermal expansion, have ultra-fine fibers. The growing uses of CNF based products across manufacturing lightweight cars, cosmetics & personal care, and the food industry, further drive the growth of the market.
Nanocellulose Market Segment Analysis - By Application
Composite segment held the largest share of more than 25% in the Nanocellulose market in 2019. The Nanocellulose can be used as a filler in composite material. Nanocellulose reinforced composite materials reduces the weight and maintain the performance of final products. The Nanocellulose/nanocarbon composites properties offer many advantages such as tunable optical transparency, photodynamic & photothermal activity, nanoporous character, high adsorption capacity, high mechanical strength, flexibility, stretchability, and tunable thermal & electrical conductivity.
Nanocellulose Market Segment Analysis - By Geography
North America region is projected to witness a significant growth of 18% in the global Nanocellulose market during the forecast period. In North America, the United States is the largest market for nanocellulose. Rising demand from aerospace and pharmaceuticals is boosting the market demand across the country. For instance, According to Federal Aviation Administration, the total commercial aircraft fleet is expected to reach 8,270 in 2037 from 7,356 in 2018, owing to the growth in air cargo.
Nanocellulose Market Drivers
Surging Demand for Eco-Friendly Materials
Nano-fibrillated cellulose has the potential for the replacement of plastic films in composite packaging owing to the low oxygen permeability of the product. Composites are also used in atomic force microscopy, magic angle spinning, nuclear magnetic resonance, and transmission electron microscopy.
The increase in consumer demand for eco-friendly products in the personal care and food & beverage products is driving the demand for Nanocellulose market. According to a report published by the Government of India in 2017, the consumption of the food and beverage segment in India expected to increase from US$ 369 billion to US$1.142 trillion by 2025, which is likely to boost the growth of the Nanocellulose market during the forecast period.
Use of Nanocellulose as a Natural Fillers in the Automotive Industry
Natural fillers such as cellulose nanocrystals and nano fibrillated cellulose are used as reinforcing fillers in polymer composites for the automotive industry.
In addition, the lightweight cars, trucks, and buses further improve the vehicles' fuel efficiency. These fillers are especially used in the internal parts of the car such as door panels, trim parts in dashboards, and parcel shelves. According to the report published by International Energy Agency (IEA) in 2020, the global sales of EV was 3.27 million units in 2018 and increased to 4.79 million units in 2019, which will boost the market's growth in the forecasted period.
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Nanocellulose Market Landscape
Nanocellulose Market are American Process, Kruger, Daicel Corp., Melodea Ltd., J. Rettenmaire & Sohne, Asahi Kasei Corp., CelluComp Ltd, Sappi Ltd., Borregaard ASA, FPInnovations, Oji Holdings Corp., Stora Enso, Nippon Paper Group, CelluForce, Innventia AB, and Holmen AB, among others.
Key Take Away
Asia-Pacific is expected to surge the market during the forecast period due to the growing middle-class population propelled with an increase in the lightweight the automobile market which is boosting the market growth. China, India, Bangladesh, and Vietnam are contributing the major share.
High economies of scale in nanocellulose production and growing demand for transmission electron microscopy from paper, food, cosmetic and pharmaceutical industries are expected to drive the market demand in the near future.
COVID-19 has impacted the growth of the market owing to the decrease in demand for end-use products. The shutdown of day-to-day operational activities has limited the market opportunities.
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https://www.industryarc.com/Report/16068/nanocrystalline-cellulose-market.html
B. Nanomaterials Market
https://www.industryarc.com/Research/Nanomaterials-Market-Research-501551
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