"The Global Nano-cellulose market is growing at a high CAGR 18% during the forecast period (2021-2028)".
Nano-cellulose is a material that is comprised of nano-sized cellulose fibrils. It is pseudo-plastic and exhibits thixotropic behavior is derived from wood fibers by an acid hydrolysis process which results in the formation of highly crystalline and rigid nano-fibers.
Nano-cellulose is widely preferred for their enhanced mechanical, thermal and structural properties. Other features such as high aspect ratio, biodegradability, low density, and homogeneity make nano-cellulose capable of being used in a wide range of application areas.
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Stringent regulations on packaging materials, demand petrochemical products, unstable prices of petrochemicals, abundant availability of raw material, extensive investments on Nano-cellulose products, and the novel properties of Nano-cellulose are some of the salient factors responsible for the growth of the global Nano-cellulose market.
Petrochemicals, which turn oil and gas into daily use products such as plastics, fertilizers, packaging material, and others are crucial to modern society. Petrochemicals consume 14% of the daily global oil use and 8% of gas.
International Energy Agency (IEA) predicts that the demand for petrochemical products will grow by 30% by 2030 and 60% by 2050.
Moreover, the global oil demand in 2018 is 6.9mb/d and is expected to reach 104.7mb/d by 2023. Thus, a need for substituting this demand for petrochemical products would drive the market for Nano-cellulose.
Additionally, the cost of Brent crude oil in 2014 was USD 99, and it decreased to USD 52 in 2015 and continued to decline until 2016 to USD 43 per barrel finally settling at USD 71 in 2018.
These fluctuations in oil prices have demanded to find alternative solutions for petrochemical products, and thus, the demand for Nano-cellulose is expected to increase in the future.
The high cost of R&D activities, lack of technological advancements, a dearth of awareness about nano-cellulose in developing economies of the world and regulatory concerns are the critical aspects hindering the global nano-cellulose market.
Although most of the nano-cellulose materials are non-toxic, there have been reports of Nano-cellulose exhibiting toxic behavior.
At high concentrations, crystalline nano-cellulose is said to induce inflammatory effects on human lungs. Thus, governments are imposing stringent norms on the usage of nano cellulose-based products, and this is one of the crucial factors hampering the growth of the global nano-cellulose market.
By Product TypeNano Fibrillated CelluloseNano Bacterial CelluloseNanoCrystalline CelluloseBy Application TypeFood and Beverage IndustryPackaging IndustryOil and gas industryElectronics IndustryPaper Processing IndustryCompositesPaints and coatings industryElectronics
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The Global Nano-cellulose market is segmented into North America, South America, Europe, Asia – Pacific, and the Rest of the World(ROW).
The US is the largest manufacturer and consumer of Nano-cellulose in the North American region. The US market potential for high volume applications of Nano-cellulose is 6 million tons in which the packaging industry occupies the highest share of 2 million metric tons owing to the growing packaging industry and technological advancements in this region. Thus, the US dominates the list in the global Nano cellulose market.
Market Key Companies
The major players in this market incorporate competitive strategies like mergers and acquisitions to retain their position in the market and also contribute to the growth of their companies.
For instance, in November 2018, Asahi Kasei has acquired Erickson Framing Operations LLC, a US company that offers prefabricated building products to home builders. Similarly, in September 2018, Asahi Kasei has completed its acquisition of Sage Automotive Interiors.
Moreover, in February 2018, Melodea Ltd partnered with Brazilian forestry giant Klabin to take a step forward in the commercialization of next-generation safe and renewable industrial Nano-crystalline cellulose products.
The report profiles the following companies – Innventia, American Process Inc, FP Innovations, Celluforce, Stora Enso, Kruger, Daicel Fine Chem, Borregard, Nippon Paper, UPM Kymmene, Melodea, Sappi Ltd, Kasei Corporation, J Rettenmaier & Sohne GmbH, Oji Holdings Corp and Daio Paper Corp.
Tags: Melodea, Sappi Ltd, Kasei Corporation, J Rettenmaier & Sohne GmbH, Oji Holdings Corp, Daio Paper Corp, Nippon Paper, UPM Kymmene, Borregard, Nano Cellulose Market, Daicel Fine Chem, Asahi kasei, Stora Enso, Nano Cellulose, Erickson Framing Operations LLC, Innventia, American Process, FP Innovations, Celluforce, Kruger
See Campaign: https://www.datamintelligence.com/research-report/nano-cellulose-marketContact Information:Sai Kiran
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