Nanocellulose Market to Undergo High CAGR Growth of 18.15% By 2028

Posted by nileshdbmr on April 5th, 2021

Nanocellulose market will grow at a rate of 18.15% for the forecast period of 2021 to 2028. Rising strong product demand across the packaging industry is a vital factor driving the growth of nanocellulose market.

Nanocellulose is obtained from plants and plant matter which can be described as a light weight solid substance which includes nanosized cellulose fibrils. This material obtained has the characteristics of glue like substance in normalized conditions, is a conductor of electricity and is transparent in colour; the tensile strength of said substance is very high and is non-toxic in nature.

Segmentation: Global Nanocellulose Market

•          By Application (Pulp & Paper, Composites & Packaging, Biomedical & Pharmaceuticals, Electronics & Sensors, Oil & Gas, Paint & Coatings)
•          By Type (Microfibrillated Cellulose & Nanofibrillated Cellulose, Cellulose Nanocrystal/Nanocrystallin Cellulose, Others)
•          By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)

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Key Market Competitors: Global Nanocellulose Market

Few of the major market competitors currently working in the nanocellulose market are Innventia, FPINNOVATIONS, CelluForce, Stora Enso, Kruger Inc., DAICEL FINECHEM LTD., Borregaard, NIPPON PAPER INDUSTRIES CO. LTD., UPM., Melodea Ltd., CelluComp, Blue Goose Biorefineries Inc., Oji Holdings Corporation., VTT, Sappi., Weidmann Holding AG, BioVision Technologies Inc., J. RETTENMAIER & SÖHNE GmbH + Co KG, Novozymes, INEOS AG, Triveni Interchem Private Limited (Group Of Triveni Chemicals)., Asahi Kasei Corporation., and BASF SE.

Competitive Analysis: Global Nanocellulose Market

Global nanocellulose market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of nanocellulose market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.

Market Drivers:

•          Due to its characteristics and advantages, there is expected to be a rise in applications of nanocellulose in a number of industries which is expected to drive the market growth
•          Increased amount of research and development expenditure from government and private enterprises is expected to drive the market growth

Market Restraints:

•          Need for specific instruments and machinery for the extraction and obtainment of the material is expected to restrain the market growth
•          Lack of standardization and regulations pertaining to the material is also expected to restrain the market growth