Market Synopsis
The global Nanocellulose Market Growth is estimated to grow at a moderate pace during the assessment period. According to Market Research Future Reports (MRFR), the expanding automotive production and sales are likely to be the most notable factor driving the global nanocellulose market 2020. Besides, the developing oil and gas industry is likely to magnify the market. Increasing crude oil production is an important factor in expanding the global market in the forthcoming period. Also, the increasing urbanization, along with a rise in disposable income, is anticipated to propel the market further. In addition, the personal care industry in the advanced and emerging countries is estimated to play an important role in expanding the global market in the forthcoming period. Further, the persistence growth of the paints and coatings sector, along with the rise in disposable income in the emerging economies, is likely to propel the demand during the assessment period. Further, its attributes such as lightweight, better excellent thermal stability, dimensional stability, and various other applications such as paints and coatings, paper & board, composites and packaging, oil and gas, and others are estimated to fuel the global market in the forthcoming period.
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Market Segmentation
The global nanocellulose market can be distinguished on the basis of application, type, and region.
On the basis of application, the global nanocellulose market can be distinguished into paper & board, composites & packaging, paints & coatings, personal care, oil & gas, and others.
On the basis of type, the global nanocellulose market can be distinguished into nanocrystalline cellulose (NCC), nanofibrillar cellulose (NFC), bacterial cellulose (BCC).
On the basis of region, the global nanocellulose market can be distinguished into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
Regional Analysis
The global market for nanocellulose is estimated to grow significantly during the assessment period. Geographically, the market has been segregated into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. According to MRFR, the global market is estimated to be dominated by North America. The second and third position is acquired by Europe and the APAC region, respectively. The most important factor driving the regional market is the fast economic development of the region, along with the growing production, and the high potential of consumption. In North America, the U.S. and Canada is likely to make the most valuable contribution to expanding the market. The U.S. acquires the largest market share, followed by Canada. In Europe, the market is estimated to be primarily driven by the increased manufacture of automation and sales along with the growth in demand for lightweight passenger cars. In the U.K., countries like Italy, Poland, Spain, Germany, France, and Russia are making a notable contribution to expanding the regional market due to the increased purchasing power of consumers and the growing expenditure in innovation. Further, in Europe, the projects have been funded by the government and private sectors, which is an important factor leading to the rise in demand for nanocellulose during the forecast period. On the other hand, the MEA region is projected to acquire a significant share and grow substantially during the assessment period owing to a phenomenal expansion of the oil and gas industry.
Key Players
The established players of the global nanocellulose market are NIPPON PAPER INDUSTRIES CO., LTD. (Japan), DAICEL FINECHEM LTD (JAPAN), Borregaard (Norway), Sappi Ltd. (South Africa), CelluForce (U.S.), Kruger Inc. (Canada), AmericanProcess Inc. (U.S.), STORA ENSO (Finland), UPM (Finland), J. RETTENMAIER & SÖHNE GmbH + Co K.G. (Germany), and others.
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