Press release
Nanocellulose Market is Thriving Worldwide with Leading Players Like Sappi, Stora Enso, American Process Inc, FPInnovations, Kruger Inc.
Nanocellulose Market
Nanocellulose industry is driven by its applications in the food & beverage packaging materials, due to its exceptional characteristics which help prevent the food content spoilage and blocks the oxygen entry in it. Moreover, the product is used to substitute polystyrene-based foams and also helps improving the shelf life, thus improving the overall food quality.
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In the nanocellulose market, nanofibrillated cellulose segment is said to gain the highest share of over USD 540 million by 2024 owing to its superior properties. Bacterial nanocellulose will grow at a highest CAGR of over 40% to capture a market share close to USD 27 million by 2024.
Nanocellulose Market, Product By Application
• Nanofibrillated Cellulose
• Nanocrystalline Cellulose
• Bacterial Nanocellulose
Nanocellulose Industry, By Application
• Composites
• Paper Processing
• Food & Beverages
• Paints & Coatings
• Oil & Gas
• Personal Care
• Others
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The composites segment is said to gain market share slightly lesser than 40% by the end of the forecast spell wing to its huge applications. In terms of revenue, the food and beverage segment is said to surpass USD 90 million by 2024 in the overall nanocellulose market. In terms of revenue, oil & gas segment is said to grow at a highest CAGR in the future years.
North America is said to capture over 40% share in the entire nanocellulose market by 2024 owing to technological upgradations and industrial and manufacturing
developments in this region. Asia Pacific will exhibit growth at a lucrative rate to surpass USD 210 million by the end of the forecast period.
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Key nanocellulose market players currently present include Nippon Paper Group Inc., Borregard ASA, Sappi Ltd., Innventia AB, Asahi Kasei Corporation, J. Rettenmaire & Sohne GmBH (JRS), Kruger Inc., Fpinnovations, CelluForce Inc., CelluComp Ltd., Melodea Ltd., Daicel FineChem Ltd., Stora Enso and American Process Inc.
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