The nanocellulose is lightweight solid material, which is derived from the plant matter that comprises of nano-sized cellulose fibrils. This material is a pseudo-plastic material and exhibits the property of specific kinds of gels/fluids that are usually thick in normal condition. It is obtained from wood pulp though it can be made from any cellulosic source material. It is utilized to improve the rheology of pharmaceuticals, food, and cosmetics. It possess superior properties such as lightweight, dimensional stability, excellent thermal stability, and high water binding capability that make it suitable to use in various applications for instance paper & board, personal care, composites & packaging, paints & coatings, oil & gas, and others.
According to study, “Nanocellulose Market by Type, Application and Country – North America Industry Analysis and Forecast to 2025” the key companies operating in the North-America nanocellulose market are Chuetsu Pulp & Paper Co. Ltd., American Process Inc., Innventia AB, Ashai Kasei Chemicals Corporation, Daio Paper Corporation, Stora Enso Ltd., Kruger Inc., Borregaard Chemcell, Imerys, Daicel Corporation. The key companies are undertaking agreements & expansions to improve their shares in this market. The companies also prolonged their plant capacities to boost their production capacities and meet the rising demand for nanocellulose in new applications.
Based on product type, North-America nanocellulose market is segmented as Cellulose Nanocrystals (CNC), Nanofibrillated Cellulose (NFC), Bacterial Nanocellulose (BNC) and others Amorphous Nanocellulose (ANC), Tunicate Nanocellulose and Cellulose Nanoyarns (CNY)). NFC segment holds major share in North-America market owing to its nano-scale dimensions & ability to form a strong entangled nanoporous network. BNC segment is expected to witness higher growth rate due to rise in demand for cosmetics and food & beverage industry during the forecast period. Based on sales channel, market is segmented as direct marketing channel and indirect marketing channel. In addition, based on application, market is segmented as pulp & paper, rheology modifier, electronics & sensors, composites & packaging, biomedical & pharmaceuticals and others (oil & gas, cosmetic and food). Biomedical applications include diagnostic imaging, pharmaceuticals, tissue engineering materials and drug delivery.
The North-America nanocellulose market is driven by increase in adoption of flexible packaging aids, followed by growth in oil & gas industry, superior properties of nanocellulose, rise in expenditure in innovation, increase in demand for lightweight passenger cars, rapid urbanization & rise in disposable income in developing economies, growth in improvement in living standards and rise in demand from cosmetic market. However, strict government regulations, dearth of consumer awareness and economic barriers may impact the market. Moreover, growth in crude oil production is a key opportunity for market. Furthermore, growth in composites & packaging sector is a major trend for market.
It is predicted that future of the North-America nanocellulose market will be optimistic as a result of continuous expansion of the paints & coatings sector along with rising demand for biodegradable material during the forecast period. North America nanocellulose market is anticipated to reach US $222.52 million by 2025, growing by 21.67% annually during the forecast period.
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Ankur Gupta, Head Marketing & Communications