Jersey City, New Jersey, April 10, 2024 (GLOBE NEWSWIRE) -- The Global Nanocellulose Market is projected to grow at a CAGR of 17.67% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 474.46 Million in 2024 and is expected to reach USD 1750.17 Million by the end of the forecast period.
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Browse in-depth TOC on “Nanocellulose Market”
202 - Pages
126 – Tables
37 – Figures
Scope Of The Report
| REPORT ATTRIBUTES | DETAILS |
| STUDY PERIOD | 2021-2031 |
| BASE YEAR | 2024 |
| FORECAST PERIOD | 2024-2031 |
| HISTORICAL PERIOD | 2021-2023 |
| UNIT | Value (USD Million) |
| KEY COMPANIES PROFILED | CelluForce Inc, Kruger Inc, Sappi Ltd, Innventia AB, Nippon Paper Group Inc, Borgward and GranBio Technologies |
| SEGMENTS COVERED |
|
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
Nanocellulose Market Overview
Sustainable Solutions Revolutionizing Industries: The Nanocellulose Market is witnessing a significant surge as industries increasingly prioritise the adoption of environmentally friendly alternatives. The demand for various industries has been rapidly increasing due to growing environmental concerns and stricter regulations.
Advancements in Nanotechnology Fueling Innovation: Advancements in nanotechnology are driving the growth of the Nanocellulose Market. Improved material properties, such as increased strength and biodegradability, are fueling the adoption of these materials in various industries, such as electronics, healthcare, and automotive. This is leading to a culture of innovation and advancement.
Growing Emphasis on Renewable Resources: The Nanocellulose Market is flourishing in light of the global transition towards sustainable resources. With the growing importance of sustainability, industries are actively exploring alternative materials. Nanocellulose has become a leading contender in the market due to its biodegradability, renewability, and versatility, which are fueling its rapid growth.
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High Production Costs and Technical Challenges: Despite the promising potential, the Nanocellulose Market encounters challenges arising from the high production costs and technical complexities it entails. Scaling up production while maintaining quality can be quite challenging, which can slow down the widespread adoption across industries.
Limited Awareness and Regulatory Hurdles: The growth trajectory of the Nanocellulose Market is hindered by a lack of awareness among end-users and strict regulatory frameworks. There are certain obstacles that hinder the growth of the market, including a limited understanding of its applications and regulatory barriers.
Competition from Established Alternatives: The Nanocellulose Market faces intense competition from well-established alternatives. Traditional materials are commonly preferred because of their widespread use and well-established distribution networks. Convincing industries to make a switch and overcoming market inertia continue to be major obstacles.
Geographic Dominance:
Europe is expected to lead the market, driven by the growing R&D investments and the high demand for nanocellulose in pulp and paper applications. The market for packaging made of nanocellulose is expected to experience growth due to the rising demand for pulp and paper, along with the tightening regulations on single-use plastic packaging.
North America is expected to become a significant consumer of nanocellulose, following Europe. This is due to various factors such as its strong consumption potential, expanding manufacturing capability, rapid economic growth, rising demand for lightweight passenger cars, and a preference for environmentally friendly food and beverage packaging.
Nanocellulose Market Key Players Shaping the Future
Major players, including CelluForce Inc, Kruger Inc, Sappi Ltd, Innventia AB, Nippon Paper Group Inc, Borgward and GranBio Technologies. and more, play a pivotal role in shaping the future of the Nanocellulose Market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the industry's key players.
Nanocellulose Market Segment Analysis
Based on the research, Verified Market Research® has segmented the global Nanocellulose Market into Type, Application, And Geography.
To get market data, market insights, and a comprehensive analysis of the Global Nanocellulose Market, please Contact Verified Market Research®.
- Nanocellulose Market, by Type
- Nanocrystalline Cellulose
- Cellulose Nanofibers
- Micro-fibrillated Cellulose
- Nanocellulose Market, by Application
- Pulp & Paper
- Biomedical & Pharmaceutical
- Packaging
- Others
- Nanocellulose Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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Top 5 Nanocellulose Manufacturers applying high-impact force for getting final product
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