Nanocellulose Market Set to Grow USD 670 Million by 2026
According to the report, The global Nanocellulose market in 2019 was approximately USD 290 Million. The market is expected to grow above a CAGR of 19% and is anticipated to reach over USD 670 Million by 2026.
Nanocellulose is a substance made up of micro-sized cellulose oligomers with a high ratio of length to width (appearance) Typical measurements vary from 5-20 nm to extreme micrometers. In nature it is semi-plastic and under normal conditions has the properties of a gel and viscous liquid, but when it is agitated, it becomes less viscous and can float. This property is referred to as thixotropy.
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Nanocellulose is expected to replace a number of products in the future in order to generate reproducible and reliable data for the marketing of nanocellulose products and the acquisition of consumer confidence. Nanocellulose manufacturers and research institutions are expected to play a key role in addressing the trust issues associated with the launch of new nanocellulose products. Appropriate promotional practices and product positioning will lead consumers to adopt nanocellulose products. Government financing, along with an efficient supply chain, would also play an important role in increasing global market penetration.
The Nanocellulose market is segmented based on drug type, application and region. On the basis of drug type segmentation, the market is classified into Microfibrillated Cellulose and Cellulose Nanocrystals. Based on application, the market is bifurcated into Pulp& paper, Composites & packaging, Biomedical & pharmaceuticals, and Electronics & sensors.
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Some of the essential players operating in the Nanocellulose market, but not restricted to include Sappi Ltd., Innventia AB, Borregard ASA, Fpinnovations, CelluForce Inc, American Process Inc, STORA ENSO, Daicel FineChem Ltd, Kruger Inc, Nippon Paper Group Inc, CelluComp Ltd., J. Rettenmaire & Sohne GmBH (JRS), Melodea Ltd, Asahi Kasei Corporation, and Others.
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