Nanocrystalline Cellulose Market to reach $1,663.8 million by 2030

In 2022, the Global Nanocrystalline Cellulose Market was valued at $357.8 million, and is projected to reach a market capitalization of $1663.8 million by 2030. Over the forecast period of 2023-2030, market is anticipated to grow at a CAGR of 21.2% owing to the end use of nanocrystalline cellulose in various sector is the key reason to drive the market.

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The growing demand for nanocrystalline cellulose in various industries such as textiles, packaging materials, and personal hygiene care may propel the Global Nanocrystalline Cellulose Market even more. It provides lightweight and robust materials for use in a variety of sectors. The use of silica nanoparticles to paints increases durability, while titanium dioxide and zinc oxide are extensively used nanoparticles in sunblock and lotions as UV filters. Nanotechnology in coatings makes surface materials more durable, water- and stain-resistant, enabling textile sector alternatives for high-end fashion and athletic equipment. Nanotechnology is used in many high-performance electrical devices.

Increase in automotive production in Japan is anticipated to create new growth possibilities for nanocrystalline cellulose manufacturers. Nanomaterials in medicine provide remedies for disease detection, prevention, and therapy. Nanotechnology offers enormous promise for use in cancer research and diagnosis. When compared to traditional drugs, nanotherapeutics may have higher absorption, less toxicity, greater dosage response, and enhanced solubility. Hence Nanocrystalline Cellulose has a significant growth potential throughout the anticipated period. Technological improvements are anticipated to drive growth in the nanocrystalline cellulose market. The market is projected to be driven by the increased usage of nanocrystalline cellulose in biomedical, packaging, construction, and oil and gas industries.

Owing to the extensive usage in paper manufacturing and the creation of high-quality paper, the softwood pulp sector is predicted to increase. Hardwood pulp, on the other hand, is inferior to softwood pulp but is still a great paper pulp that is used to manufacture coated paper, lightweight coated paper, offset paper, printing paper, and writing paper when mixed with softwood pulp.

The Nanocrystalline Cellulose Market was severely hit by the COVID-19 epidemic. The majority of manufacturing plants were closed, resulting in a decrease in Nanocrystalline cellulose output. Furthermore, it has been forced to operate at zero or partial capacity owing to supply chain disruptions such as raw material delays or non-arrival, delayed finance flows, and increased absenteeism among manufacturing line workers. Manufacturers, on the other hand, have progressively begun to function with a minimum staff and the appropriate Covid-19 rules, and the market is steadily returning.

Segmentation Analysis:
The Global Nanocrystalline Cellulose Market segmentation include:

By Form: Powder, Liquid.

The powder industry dominates the market due to its advantages. Some of the uses for nanocrystalline cellulose's power include body armor, flexible batteries, flexible displays, filters, fuel-efficient autos, and biofuel.

By Application: Biomedical, Food Processing, Packaging, Optical Films, Composite Materials, Electronics, Body Armor, Battery, Bio Fuels, & Others

The biomedical category accounted for 30% of the Nanocrystalline Cellulose Market. Nanocrystalline cellulose is a renewable nanomaterial that has received a lot of interest for its potential use in biomedicine. Emerging disciplines such as 3D printing and magnetically sensitive materials are being explored to utilize nanocelluloses in more creative ways in biomedical applications.

The packaging category is predicted to develop, owing mostly to the fast-growing food and beverage industry. Furthermore, rising demand for sustainable packaging materials to pack food and beverages, cosmetics, healthcare products, and other consumer goods will drive segment growth. Furthermore, the personal care category is predicted to expand due to improving hygiene awareness and demand for personal care items such as sanitary napkins and tampons. Cosmetics, which is utilized as a synthetic covering agent for fingers, eyelids, brows, and eyelashes, also show significant potential for Nanocellulose throughout the projection period.

By Grade: Pharmaceutical & Food Grade Nanocrystalline Cellulose,
Industrial Grade Nanocrystalline Cellulose

Pharmaceutical & Food Grade Nanocrystalline Cellulose will continue to dominate the worldwide market during the anticipated period, owing to increased demand in the Pharmaceutical and Food sectors for Nanocrystalline Cellulose market. Because of its benefits, nanocrystalline cellulose is employed in medicinal and culinary products. Furthermore, the increased usage of Nanocrystalline Cellulose for the production of sanitary napkins, tampons, diapers, or wound dressing products due to its absorbency will propel the market ahead in the future years.

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By Region
North America region held the largest share in the Nanocrystalline Cellulose Market, owing to the growing biomedical Industry in the region and technological advancements and growing demand from the paper and plastic industries. The bioscience sector in the United States employs 1.87 million people across more than 101,000 businesses.

Due to increased demand from the paper and plastic sectors, the European area is the second-largest market after North America. Furthermore, due to expanding demand and production patterns in countries like as China and Japan, the Asia Pacific region is estimated to be the fastest-growing market.

Latest Industry Developments:
In October 2022, the surface structure of cellulose nanocrystals has faults that chemists in Japan, Canada, and Europe have discovered. This is a significant step in breaking down cellulose to create renewable nano-materials useful for biological goods, energy solutions, and biofuels.

In June 2021, Stora Enso bought stock in Elopak ASA. The acquisition is anticipated to improve the company's position in the global packaging business, notably in liquid paper packaging in Europe and North America.

In August 2020, the development of a new pilot plant for the manufacture of cellulose foam was announced by Stora Enso. The new facility, which is housed in the business's Fors mill in Sweden, will be able to manufacture a lightweight biofiber-based foam material for packaging and cushioning applications, taking the place of fossil-based materials now utilized in the packaging sector.

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This release was published on openPR.