The Global Nanocellulose Market Assessed to Acquire $1932.08 Million in Revenue by 2028

According to Triton's report, the global nanocellulose market, which garnered $510.15 million in 2020, is estimated to observe growth at 18.21% of CAGR by 2028.

A recent study by Triton Market Research titled ‘Global Nanocellulose Market’ includes the Global Analysis and Forecasts by End-user (Paints & Coatings, Paper Processing, Oil and Gas, Composites, Pharmaceuticals and Cosmetics, Food & Beverage, Other End-users), Product (Microfibrillated Cellulose [MFC], Nanofibrillated, Bacterial Cellulose [BC], Nanocrystalline Cellulose [NCC], Cellulose [NFC], Other Product Types), and by Geography (Latin America, North America, Middle East and Africa, Europe, Asia-Pacific).

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Triton’s report insinuates that the global nanocellulose market is probable to surge based on revenue at a CAGR of 18.21% during the forecast period of 2021-2028. It is further assessed to acquire revenue worth $1932.08 million by 2028.

Nanocellulose is referred to as a pool of material having at least one of its fibrous dimensions in nano-scale. The nanocellulose is used in several end-user industries, including cosmetics and paper processing.

The exceptional properties of nanocellulose is a primary factor augmenting the growth of the nanocellulose market worldwide. Nanocellulose is known to offer excellent thermal, structural, and mechanical properties, which has resulted in its use for multiple applications, including composites and paper processing. Additionally, the demand for nanocellulose has increased for material science and biomedical purposes due to its renewable quality. However, financial hurdles and the absence of buyer awareness are aspects restricting the expansion of the nanocellulose market.

The nanocellulose market is segmented into end-user and product. The end-user section is sub-divided into paints & coatings, paper processing, oil and gas, composites, pharmaceuticals and cosmetics, food & beverage, and other end-users. Similarly, based on the product, the division is into microfibrillated cellulose (MFC), nanofibrillated, bacterial cellulose (BC), nanocrystalline cellulose (NCC), cellulose (NFC), and other product types.

Globally, Asia-Pacific is expected to become the fastest-growing market for nanocellulose through the considered years of 2021-2028. Over the years, there has been substantial growth observed in cellulose nanomaterial production in the region. Among the region’s countries, Japan is known to be highly active in research, further patenting nanocellulose-based inventions. Moreover, several Japanese companies are involved in conducting research activities relating to nanocellulose, with significant development focused on chemically modified fibrils. Such actions in the production of nanocellulose are expected to contribute to the nanocellulose market’s growth across the APAC region.

Daicel FineChem Ltd, Melodea Ltd, Borregard, CelluForce, Chuetsu Pulp & Paper Co Ltd, Nippon Paper Industries Co Ltd, Fiberlean Technologies, RISE Innventia AB, Oji Holdings Corporation, Sappi Ltd, American Process Inc, Axcelon Biopolymers Corporation, CelluComp, Norse Skog AG, and University Of Maine are major enterprises thriving in this market.

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Question & Answer: Nanocellulose Market

Question 1: What factor is augmenting the growth of the nanocellulose market worldwide?

Answer: The exceptional properties of nanocellulose is a primary factor augmenting the growth of the nanocellulose market worldwide.
Nanocellulose is known to offer excellent thermal, structural, and mechanical properties, which has resulted in its use for multiple applications, including composites and paper processing.
Additionally, the demand for nanocellulose has increased for material science and biomedical purposes due to its renewable quality.

Question 2: What aspects are restricting the expansion of the nanocellulose market?

Answer: Financial hurdles and the absence of buyer awareness are aspects restricting the expansion of the nanocellulose market.

Question 3: Which region is expected to become the fastest-growing for nanocellulose?

Answer: Globally, Asia-Pacific is expected to become the fastest-growing market for nanocellulose through the considered years of 2021-2028. Over the years, there has been substantial growth observed in cellulose nanomaterial production in the region. Among the region’s countries, Japan is known to be highly active in research, further patenting nanocellulose-based inventions.

Moreover, several Japanese companies are involved in conducting research activities relating to nanocellulose, with significant development focused on chemically modified fibrils. Such actions in the production of nanocellulose are expected to contribute to the nanocellulose market’s growth across the APAC region.

Question 4: Which are the major enterprises thriving in the nanocellulose market?

Answer: Daicel FineChem Ltd, Melodea Ltd, Borregard, CelluForce, Chuetsu Pulp & Paper Co Ltd, Nippon Paper Industries Co Ltd, Fiberlean Technologies, RISE Innventia AB, Oji Holdings Corporation, Sappi Ltd, American Process Inc, Axcelon Biopolymers Corporation, CelluComp, Norse Skog AG, and University Of Maine are major enterprises thriving in this market.

Related Report:

Global Carbon Nanotubes Market
The global carbon nanotubes market is anticipated to exhibit growth in its revenue during 2019-2028 at a CAGR of 15.31%. Moreover, the market is predicted to acquire revenue worth $18.76 billion by 2028.

Nanotubes are known to play a significant part in technological development in several fields, including electronics and medicines. Carbon nanotubes contain high electronic conductivity, five times stronger than steel. They are primarily used for producing composite material to improve the thermal, electric, and mechanical properties of base ingredients.

Factors such as technological advancements in carbon nanotubes, along with an increase in the potential of carbon nanotubes in electrical applications, are vital drivers motivating the growth of the studied market. The potential use of carbon nanotubes in the energy industry is another factor that opens multiple avenues for the carbon nanotubes market.

However, the high processing and manufacturing costs pertaining to carbon nanotubes are a significant challenge hampering the carbon nanotubes market's development.

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