According to Stratistics MRC, the “Global Nanocellulose Market” is accounted for $201.85 million in 2018 and is expected to reach $1,026 million by 2027 growing at a CAGR of 19.8% during the forecast period. Some of the key factors propelling the market growth are greater properties of nanocellulose and escalating adoption of elastic packaging aids. However, economic barriers are the restraining factor for the growth of the market.
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Nanocellulose is a less weight solid material resulting from plant substance, which includes of nano-sized cellulose fibrils. It is a pseudo-plastic material and shows the property of exact types of gels or fluids that are usually thick in regular condition. It is normally obtained from wood pulp though it can be manufactured from several cellulosic source materials. It is used to get better the rheology of food, pharmaceuticals, and cosmetics. It possess greater properties such as exceptional thermal stability, dimensional constancy, lightweight, and high water binding ability, which make it suitable to use in several applications such as paper & board, paints & coatings, personal care, composites & packaging, oil & gas, and others.
Opportunity: The consistent advancement in healthcare applications such as bio-barriers, antimicrobial films, bio-polymers would provide ample opportunities for the market growth.
Companies operating in global market are investing heavily in R&D to develop application specific finished products which is further estimated to bolster market expansion over next seven years. Rising requirement for commercial production is creating need for technological developments in the industry to commercialize the product. Nanocellulose bio-based products can be man-made by consume appropriate conversion and extraction technologies and are anticipated to augment market comma nd over the forecast phase on account of favorable government initiatives to encourage bio –based product manufacturing and use.
Driver: Strong product demand across food packaging industry is driving the market growth.
Strong product demand across food packaging industry will be a major factor in driving the market size in the coming years. This is mainly due to its excellent features such as biodegradability, ease of disposability, transparency, flexibility, high mechanical strength & barrier properties, etc. which helps in improving food shelf life. With consistently increasing demand for less processed and preservative free food, there is strong demand for nanocellulose based packaging material to prevent growth of antimicrobial activities.
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Depending on application, oil & gas segment is expected to grow at the significant market share during the forecast period. The segment is likely to expand in the coming years, which will result in a huge potential market for product application over the next few years. Product is being increasingly used as substitute to current flooding systems in Enhanced Oil Recovery (EOR). The product has viscoelastic properties with superior shear-thinning behavior along with being environment-friendly by nature. It is gaining prominence as flooding agent in oil & gas industry.
Europe region is anticipated to hold considerable market share during the forecast period:
By geography, the Europe region is anticipated to hold considerable market share during the forecast period. Europe is the prime market for nanocellulose. The spirited and diversified manufacturing sector is sustaining the expansion of the nanocellulose market in Europe. The rising consumption of nanocellulose is also prejudiced by the outstanding business environment and a strict regulatory framework of the area. The major applications of nanocellulose in the section are pulp & paper and composites.
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Some of the key players in Nanocellulose market include American Process Inc, Axcelon Biopolymers Corporation, Borregaard ASA , CelluForce Inc, Chuetsu Pulp & Paper Co. Ltd, Daio Paper Corporation, Diacel Finechem Ltd, Innventia AB, Melodea Ltd, Nippon Paper Industries Co., Ltd, OJI Holdings Corporation, Rise Innventia AB , Sappi Ltd, Stora Enso OYJ, University of Maine and UPM-Kymmene OYJ.
American Process Inc: In March 2017, American Process Inc and Aditya Birla Group’s Birla Carbon have notice a combined expansion agreement to extra explore the technical and business potential of merge carbon black and nanocellulose to progress the performance and sustainability profile of tires. Primarily evaluations advise synergies among the companies’ Birla Carbon and BioPlus nanocellulose products to considerably lower the rolling resistance of tires. Research signifies that up to 20% of a vehicle’s fuel efficiency is impacted by the rolling resistance of tires.
CelluForce Inc: In November 2016, CelluForce partnered with Fibria Celulose to jointly develop additional cellulose nanocrystal applications, a variety of industrial and manufacturing uses. The joint venture with Fibria will add to CelluForce’s already extensive capabilities, and allow Fibria to expand and commercialize new CNC-based products and functions and open up new geographical markets in South America.
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