(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Aug. 18, 2023 (GLOBE NEWSWIRE) -- The "nanocellulose market - global industry size, share, trends, opportunity, and forecast, 2018-2028f segmented by type, by application, by region" report has been added to ResearchAndMarkets.com's offering.
In the realm of advanced materials, the Global Nanocellulose Market is poised for substantial growth, with projections extending until 2028.
A primary catalyst for this growth stems from the escalating demand emanating from the packaging industry. However, the market's dynamics are not limited to packaging alone; they are intricately intertwined with a multifaceted array of sectors.
The market's panorama is also being shaped by the burgeoning requisites for nanocellulose in sophisticated applications like magic angle spinning, atomic force microscopy, TEM, and NMR, across industries including food science, aerospace, marine, healthcare, and oil and gas.
Moreover, the anticipation of heightened demand for medical products such as tampons, sanitary napkins, biopolymers, wound dressings, and bio-barriers further accentuates the trajectory of market expansion, promising an intriguing journey ahead.
Increasing Demand from Automotive Industry
In polymeric materials for the automobile sector, natural fillers like nano-fibrillated cellulose and cellulose nanocrystals are employed as reinforcing fillers. Natural fillers are employed to strengthen composite materials to increase strength, stiffness, and biodegradability. A more sustainable environment may be created by the automotive sector by lowering the enormous volume of non-biodegradable trash now being dumped in landfills.
Moreover, lighter-weight cars, trucks, and buses also increase the fuel economy of vehicles. These fillers are particularly utilized in interior automotive components, including door panels, parcel shelves, and dashboard trim. Therefore, the market expansion is being driven by the increasing demand for lightweight automobiles with greater fuel economy and electric vehicles.
For instance, according to the Global EV Outlook 2022, consumers spent USD 250 billion on electric vehicle purchases in 2021. Furthermore, Global sales of electric cars have kept rising strongly in 2022, with 2 million sold in the first quarter, up 75% from the same period in 2021.
Therefore, increasing demand from the automotive sector will lead to the growth of Global Nanocellulose market in the upcoming years.
Growing Concern Regarding Sustainability in Packaging Materials
The U.S. Environmental Protection Agency estimates that 28.1% of the nation's total municipal solid trash is made up of containers and packaging. It generates 82.2 million tonnes of solid trash on its own, most of which ends up in bodies of water or dumped in landfills.
Many packaging materials are neither biodegradable nor recyclable since they are made of plastic, paper & board, or metal. The idea of "active packaging" approaches, which incorporate nanoparticles into polymers, has been grabbing attention in an effort to increase the sustainability of the packaging sector.
Due to these novel composite packaging materials' superior resistance to microbial contamination, the food sector has seen a tremendous increase in demand for them. The need for cellulosic nanomaterials will increase as a result. Therefore, the shift towards sustainable packaging materials increases the demand for Global Nanocellulose Market during the projected period.
Growing Demand from the Pulp & Paper Industry
With the use of wood as a raw material in the production of nanocellulose, wood-based pulp enables the creation of paper goods. In order to produce strong & lighter weight paper and board with enhanced features, including reduced transparency, less porosity, and better printing quality, nanocellulose is employed as an additive in the paper-making process.
In addition, kraft or decorative papers, which are also used for gift wrapping, are the main materials used for wrapping. High-quality wrapping paper with attractive printing and design aids in the effective marketing of consumer goods.
For instance, Brightly. eco estimates that the United States produces 4.6 million pounds of wrapping paper annually, with about 2.3 million pounds of that amount going to landfills.
Thus, the rise in demand from the pulp and paper industry is predicted to drive the Global Nanocellulose market during the forecast period.
Competitive Landscape
Business Overview Product Offerings Recent Developments Financials (In Case of Listed Companies) Key Personnel SWOT Analysis
Company Profiles
CelluForce Inc. FiberLean Technologies Ltd Nippon Paper Industries Co., Ltd. Borregaard AS Cellucomp Ltd Melodea Ltd. Blue Goose Biorefineries Inc. GranBio Investimentos SA Stora Enso Oyj American Process Inc.
Market Dynamics
Drivers
Rising demand for Eco-friendly materials Increasing demand from Automotive Industry Growing concern about sustainability of packaging industry
Market Trends & Developments
Product Launches Mergers & Acquisitions Technological Advancements
Challenges
High Production cost Lack of Technical Expertise and Awareness
Report Scope:
Nanocellulose Market, By Type:
Crystalline Nanocellulose Cellulose Nanofibers Bacterial Cellulose Others
Nanocellulose Market, By Application:
Pulp & Paper Biomedical & Pharmaceutical Packaging Others
Nanocellulose Market, By Region:
North America United States Mexico Canada Europe France Germany United Kingdom Spain Italy Asia-Pacific China India South Korea Japan Vietnam South America Brazil Argentina Middle East & Africa South Africa Saudi Arabia UAE
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Tags cellulose nanocrystal nano fibrillated cellulose nanocellulose nanocrystal nanofiber nanomaterials nanoparticle nanotechnology