Nanocellulose Market Trend Analysis to 2023-2024
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Throughout the past month (Aug. 2018) recently released and publicized market reports relevant to the nanocellulose market suggest that North America is said to capture an approximate 40% dominant market share of the market owing to technological upgrades as well as industrial and manufacturing developments due to arise in this region within the forecast period currently extending to 2024. For overall value of nanocellulose as a whole by region, the Asia Pacific region will exhibit growth at a lucrative rate to surpass $210 million by the end of the forecast period.
Nanocellulose Market size will likely surpass $1 billion by 2024; according to a new market report set of data summary numbers made public by Global Market Insights (New York., N.Y., USA). 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.
An innovative packaging technology well known as "active packaging" integrates the usage of these nanocellulose in packaging materials which aid to regulate the food bacterial external contamination. This technology is fascinating a huge attention in the food packaging industry due to the rising buyer demands for preservative-free and minimum processed eatables. Furthermore, the nanocellulose market will further be augmented by the integration of nanomaterials in food packaging. This will lead to a reduction in food waste as it preserves the freshness of packed food.
Another driving factor for the nanocellulose market is the Asia Pacific region which has a vast growing population with enormous rising income levels of consumers. Increasing number of developing countries in this region, coupled with exponential growth rates will spur the personal care and cosmetics industry in Asia Pacific.
People living in the developing countries of this region have started to improve their lifestyles and standard of living due to the growth in the corporate culture. This has led to increasing awareness of personal grooming and hygiene. Rising use of cosmetic products, fragrances, and other personal care products will propel the cosmetic and personal care industry, eventually boosting the market forf nanocellulose-based products in the years predicted ahead.
On a more specific set of definitions representing a more conservative trajectory, the Nanocellulose Market was worth a reported $100 million in 2014 and is expected to reach approximately $484 million by 2023, while registering itself at a compound annual growth rate of 19.05% during the forecast period ahead according to corresponding reports on the market by Crystal Market Research (Bristol, U.K).
North America is the biggest market for nano cellulose presently and the same is anticipated to continue over the forecast period stated this firm's reasearch. This is attributable to constant advancements in technology, advancements in healthcare industry, and rising concentration on biodegradable food packaging. Europe market is anticipated to account for the second highest growth rate after North America. The Asia-Pacific market is foreseen to exhibit a steady development rate but the market is currently lower than North America and Europe.
According to Crystal, the application of nanocellulose in several industries is a time for observing a significant change, primarily due to the commercial growth of nanocellulosic needs in both polymer replacement and as a medium for nanoexperimental production of enzyme related and and other microscopic starter-cultures to create biofuels produced from the production of successfully manipulating microbe behavior and attaining satisfied organic cultural output.
In bioenergy, nanocellulosic and nano-related costs are driven by the rising petroleum costs and the high-energy intensity in the manufacturing of chemicals (as noted above) with the enhancement of synthetic polymers. Nanocellulose is being developed during the forecast periods of study for the novel use in applications ranging from scaffolds in tissue manufacturing, artificial skin and cartilage, wound healing, vessel substitutes, to biodegradable food packaging. Nanocellulose is thought to be as a suitable option to the costly high tech materials such as carbon nanotubes and carbon fibers.
In bioenergy, nanocellulosic and nano-related costs are driven by the rising petroleum costs and the high-energy intensity in the manufacturing of chemicals (as noted above) with the enhancement of synthetic polymers. Nanocellulose is being developed during the forecast periods of study for the novel use in applications ranging from scaffolds in tissue manufacturing, artificial skin and cartilage, wound healing, vessel substitutes, to biodegradable food packaging. Nanocellulose is thought to be as a suitable option to the costly high tech materials such as carbon nanotubes and carbon fibers.
Key nanocellulose market players currently presented in market reports 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.
