(MENAFN- GlobeNewsWire - Nasdaq) A growing demand for textiles and smart packaging solutions will drive nanocrystalline cellulose demand.
Wilmington, Delaware, United States, Transparency market Research Inc. –, Nov. 11, 2024 (GLOBE NEWSWIRE) -- The nanocrystalline cellulose market (나노결정질 셀룰로오스 시장) was valued at US$ 55.0 million in 2022. The market is projected to increase at a CAGR of 31.0% between 2023 and 2031, reaching US$ 628.2 million by 2031. NCC has the ability to be biocompatible, making it a good material for use in biomedical applications. Tissue engineering scaffolds, wound healing materials, and drug delivery systems are possible future developments.
Composite materials will likely integrate NCC in the future. Researchers and industries may optimize composites for specific purposes, such as aeronautics and automotive applications that require lightweight and high-strength materials. The production of nanocrystalline cellulose may be scaled up as technology advances. Increased commercialization and greater adoption across industries could be attributed to improved and more cost-effective manufacturing processes.
Smart packaging materials could benefit from NCC's barrier characteristics and mechanical strength. Textiles may also acquire stronger or more flexible properties because of enhancement. NCC is being utilized to improve the performance of materials in industries such as aerospace, automotive, and construction. NCC is a natural, biodegradable material that complies with growing consumer demands for eco-friendly products.
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Key Findings of the Market Report
● The packaging sector is boosting growth in the nanocrystalline cellulose market
Producers of nanocrystalline cellulose are adopting a new and advanced technique known as ultrathin processing to improve their production methods. Based on the nanocrystalline cellulose market forecast, North America is also likely to hold a key global market share. Based on the end user, the paper processing segment is likely to drive demand for the nanocrystalline cellulose market.
Global Nanocrystalline Cellulose Market: Growth Drivers
Due to its sustainability and renewable nature, cellulose is increasingly considered an eco-friendly alternative. Besides composites and coatings, nanocrystalline cellulose is used in food packaging, pharmaceuticals, and electronics. The versatility of the product, along with its adaptability to a wide range of uses, makes it an attractive product. As a reinforcement agent, NCC can enhance composite properties, including stiffness, strength, and other desirable characteristics. Research and development of bio-based materials, such as NCC, have been increasing due to the global trend toward green and sustainable technologies. Governments and industries are investing in environmentally friendly technologies, which is increasing demand for green products. Researchers and developers are exploring new applications and improving processes to expand the NCC market. Innovation and technology development have a significant impact on the growth of the market. Demand for eco-friendly and sustainable products can increase with consumer awareness about NCC. NCC-based products will likely be developed and produced in response to this demand. Nanocrystalline cellulose continues to be investigated by researchers for potential applications. Nanocrystalline cellulose became increasingly popular to reduce environmental impact. Biodegradable and renewable alternatives were explored by industries seeking greener alternatives.
Global Nanocrystalline Cellulose Market: Regional Landscape
North America is projected to drive the market for nanocrystalline cellulose. The United States and Canada have been hubs for nanocrystalline cellulose research and development for many years. Researchers, universities, and companies have worked together to explore enhanced production methods and discover new applications. Green and renewable materials have become increasingly popular as environmental sustainability becomes more prevalent. Considering the region's focus on sustainable solutions, nanocrystalline cellulose is derived from sustainable sources like wood pulp. Government funding and support for nanotechnology research has been significant contribution to the growth of the nanocrystalline cellulose market. Eco-friendly materials have been made possible by grants and initiatives promoting their development. Consumer preferences for eco-friendly and sustainable products have increased in North America. Materials such as nanocrystalline cellulose are being explored and adopted in this trend to meet consumer demands. Several factors can influence the market, including the regulatory framework in North America, which includes guidelines and regulations. Developing and utilizing nanocrystalline cellulose responsibly may be made possible by clear regulations.
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Global Nanocrystalline Cellulose Market: Key Players
Investments in advanced and sophisticated technologies are helping nanocrystalline cellulose producers gain a competitive edge. Nanocrystalline cellulose is expected to adopt modern production techniques in the near future. A high production cost, however, prevents the market from expanding.
Borregaard UPM CelluForce American Process Inc. Nippon Paper Industries Co. Ltd. RISE Innventia AB Melodea Ltd Oji Holdings Corporation Stora Enso
Key Developments
In October 2022 , Melodea, an Israeli start-up, built a manufacturing plant to support increased production capacity and bring its barrier coatings to the United States markets. This bio-based formula was made with cellulose nanocrystals (CNC) to reduce the use of single-use plastics in barrier products. In April 2023 , Melodea offered resistant coatings resistant to oxygen, oil, grease, and water vapor. Paper and packaging industries can now replace environmentally harmful materials with recyclable materials without compromising performance due to these coatings. By extracting cellulose nanocrystals from industrial forests' wood pulp, Melodea uses a proprietary technology.
Global Nanocrystalline Cellulose Market: Segmentation
By End User
Composites Manufacturing Paper Processing Food & Beverage Paints & Coatings Medical & Pharmaceutical Personal Care Others (including Oil & Gas, Textiles, and Cement)
By Region
North America Latin America Asia Pacific Europe Middle East & Africa
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