The global nanocellulose market is anticipated to witness significant growth over the forecast period owing to the increasing application scope of cellulosic materials in paper & pulp manufacturing coupled with rising environmental concerns. Unstable petrochemical prices are anticipated to propel market demand over the foreseeable future. Biodegradable, non-toxic, and renewable nature along with the thixotropic property of nanocellulose is expected to drive demand over the next seven years. Cost-effectiveness and abundant availability of raw material such as cellulose is anticipated to improve the supply scenario of the product over the foreseeable future. High economies of scale in nanocellulose manufacturing are anticipated to propel the market demand in the near future. Increasing demand for eco-friendly paints, composites, and coatings is anticipated to drive the market in the near future. Increasing demand in healthcare applications such as bio-barriers, antimicrobial films, bio-polymers, sanitary napkins, tampons, and wound dressing owing to enhanced absorbent properties is anticipated to drive the market over the forecast period. Companies operating in the global market are investing heavily in R&D to develop application-specific finished products which is further estimated to bolster market expansion over the next seven years. The rising requirement for commercial production is creating a need for technological developments in the industry to commercialize the product. Nanocellulose bio-based products can be manufactured by utilizing appropriate conversion and extraction technologies and are anticipated to augment market demand over the forecast period on account of favorable government initiatives to promote bio-based product manufacturing and use.
Nanocellulose is expected to substitute a variety of existing products in the future therefore reproducible and reliable data must be produced for commercialization of nanocellulose products and gaining customer trust. Nanocellulose manufacturers and research institutes are anticipated to play a key role to overcome trust issues related to the launching of new nanocellulose products. Appropriate promotional activities and product positioning are expected to guide the customers toward the adoption of nanocellulose products. Government support, a large number of capital investors along with efficient supply chain will also play a key role to increase market penetration globally.
North America and Europe are expected to have a higher demand than other regions on account of the growing paint & coating industry. Major players such as CelluComp, Asahi Kasei, and Rettenmaier & Sohne are investing heavily in R&D to develop nanocellulose products. Recent developments in industry include the development of nanocellulose composites by CelluComp and production of Ceolus an NCC by Asahi Kasei that has a wide range of application in the pharmaceutical industry, nutraceutical, and food industry owing to its unique properties.
On the basis of products, the nanocellulose market has been segmented into nanocrystalline cellulose (NCC), nanofibrillated cellulose (NFC), and bacterial cellulose (BC). NCC is expected to gain market share over the next seven years on account of high strength and enhanced optical & electrical properties.
Major players operating in the global nanocellulose market include CelluComp, Asahi Kasei, Daicel, Asahi Kasei Corporation, Rettenmaier & Sohne, Oji Paper, BASF AG, and Celluforce. Laboratory scale manufacturers of nanocellulose include Innventia, Borregaard, Nippon Paper, and Stora Enso.
This report has a service guarantee. We stand by our report quality.
We are in compliance with GDPR & CCPR norms. All interactions are confidential.
Design an exclusive study to serve your research needs.
Get your queries resolved from an industry expert.
"The quality of research they have done for us has been excellent..."
The shortage in supply of raw materials from Chinese manufacturers has resulted in a severe demand-supply gap. The manufacturers are further expected to be stranded on raw material orders owing to the logistics industry being significantly impacted due to lockdown amid COVID-19. However, the producers are expected to move away from China aiming to reduce the future risks that would affect the business and to reduce the manufacturers' cluster in a single country in order to smoothen the supply chain. The report will account for Covid19 as a key market contributor.