Selbyville, Delaware, Nov. 14, 2022 (GLOBE NEWSWIRE) -- According to a new research report by Global Market Insights Inc., the global Nanocellulose Market size is projected to surpass USD 3.3 billion by the year 2032.
Consistent growth in the global food and beverage sector has triggered the need for effective packaging solutions. Nanocellulose is gaining application in food & beverage packaging due to its environmental-friendly characteristics. The material is biodegradable, non-toxic, easily disposable, flexible, transparent, and contains anti-microbial properties. This makes nanocellulose a highly preferable packaging material in the food & beverage sector.
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The expanding personal care sector of Asia Pacific is also expected to bolster product demand in the coming years. Rising socio-economic factors have resulted in increased consumer spending in India, Malaysia, Thailand, South Korea, Indonesia & a few other countries.
Nanocellulose market from the bacterial segment was valued at USD 10 million in 2022. Bacterial nanocellulose (BNC) has gained interest in the field of nanocomposites and sustainable materials. It is used in a variety of medical applications including drug delivery systems, wound dressing, and implants for heart valves, bones, blood vessels, tympanic membranes, cornea, cartilages, teeth, and other body parts.
Browse key industry insights spread across 416 pages with 598 market data tables and 36 figures & charts from the report “Nanocellulose Market Statistics By Product (Nanofibrillated Cellulose, Nanocrystalline Cellulose, Bacterial), Application (Composites, Paper Processing, Food & Beverages, Paints & Coatings, Oil & Gas, Personal Care), COVID-19 Impact Analysis, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2023 – 2032”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/nanocellulose-market
BNC is developed using Acetobacter which enables low-cost and eco-friendly small- & large-scale production. Ultra-pure cellulose can be produced with a variety of physio-chemical properties. Although this depends on the growth medium and the type of fermentation process. It is generally regarded as safe and one of the most biocompatible materials. These factors are expected to drive its demand during the forecast years 2023 to 2032.
Nanocellulose market from paper processing application is expected to grow by over 20% CAGR between 2023-2032. Nanocellulose enhances the fiber-fiber bond strength and has a strong reinforcement effect on paper materials. It acts as a strengthening agent and an additive in papers to develop stronger & denser products. Cellulose nanomaterials can also reduce the basis weight (grammage) of finished products. Using these materials can help lower the production costs of paper. The emerging use of nanocellulose in flexible & optically transparent paper production will facilitate segment growth by 2032.
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Asia Pacific nanocellulose market is anticipated to witness over 24% CAGR from 2023 to 2032. Improving standards of living and high spending on residential construction and interior will boost the use of nanocellulose composites in paints & coatings. According to the American Coatings Association (ACA), China is one of the leading producers of coatings with roughly 60% of the entire coatings volume of APAC.
The competitive landscape of the global nanocellulose industry is inclusive companies like Sappi Limited, CelluForce Inc., Borregaard ASA, FPInnovations, American Process Inc. (API), Oji Holdings Corporation, Daicel Corporation, Kruger Inc., Nippon Paper Group Inc., J. Rettenmaier & Söhne GmbH + Co. KG, Melodea Ltd., CelluComp Ltd., Asahi Kasei Corporation, Stora Enso, Holmen AB, and Anomera.
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