Nanocellulose is derived from plant cellulose, which is an abundantly available bio-polymer material, through mechanical or chemical treatment. Nanocellulose's excellent properties include thermal, mechanical and structural strengts. For its paramount strength and low weight, it is interpreted as a preferred material for wide range of applications.
Furthermore, nanocellulose materials are widely used to make super-flexible screens for different end-use applications. In addition, due to its high porosity and super absorbent property, the nanocellulose materials can make the most fanciful dressing bandages for wounds. Nanocellulose is interpreted as a material from wood fibers and is preferred over the lightweight material Kevlar for its paramount strength. Unlike Kevlar, Nanocellulose is completely renewable and is ideal for light and strong body armor.
Growth in the global packaging industry coupled with continued demand for sustainable packaging solutions is a key factor boosting the global nanocellulose market, which was valued at $0.37 trillion in 2019 and is projected to grow to $2.38 trillion by 2030 at a compound annual growth rate of 17.8%.
Strict regulatory and non-regulatory standards have prohibited the use of non-degradable packaging materials primarily for the food and beverage industry, which is expected to boost demand for sustainable and light weight packaging options in the predictable years. Nanocellulose includes the ability to replace several petrochemical products with sustainable products and is considered to be relatively more cost-effective compared to other nanomaterials with high performance.
In the production of synthetic polymers and chemicals, increasing oil costs combined with high energy intensity is anticipated to drive the nanocellulose market. On the other hand it is anticipated to create more opportunities in coming years in new applications ranging from wound healing, artificial skin, biodegradability of foodstuffs and more. The growing demand for sustainable products can be ascribed to that. Moreover, the market for nanocellulose is anticipated to be positively driven by increasing awareness regarding the use of nanocellulose.
The global nanocellulose market can be bifurcated on the basis of type, application and geography. Based on type, the global nanocellulose market can be categorized into microfibrillated cellulose & nanofibrillated cellulose, cellulose nanocrystal/nanocrystalline cellulose and others. Based on application, the global nanocellulose market is sub-segmented into composites & packaging, pulp & paper, pharmaceuticals, electronics & sensors, and biomedical. Geographically, the global nanocellulose market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Major players operating in the global nanocellulose market include American Process Inc., Innventia AB, CelluForce, FPInnovations, Kruger, Stora Enso, Borregaard, Diacel FineChem, Nippon Paper as well as UPM-Kymmene Oyj among others.
The Global Nanocellulose Market Is Segmented As Below:
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Major players operating in the global xxx market include American Process Inc., Innventia AB, CelluForce, FPInnovations, Kruger, Stora Enso, Borregaard, Diacel FineChem, Nippon Paper as well as UPM-Kymmene Oyj among.