The global Nanocrystalline Cellulose Market size was USD 259.0 million in 2022 and is expected to reach USD 1239.43 million in 2032, and register a revenue CAGR of 19% during the forecast period. The demand for environmentally friendly and sustainable materials is on the rise across a variety of end-use industries, including packaging, composites, and biomedicine.
A bio-based substance called Nanocrystalline Cellulose is made from plant sources such as wood pulp, cotton, and hemp. It is a multipurpose substance that is extremely well-liked for having special qualities including high strength, lightweight, and biodegradability. The substance is frequently utilized to replace synthetic materials such as plastics and polymers.
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Top Companies: Asahi Kasei Corporation, Sappi Ltd., Fpinnovations, Kruger Inc., CelluForce Inc., Nippon Paper Group Inc., Stora Enso, Borregard ASA, CelluComp Ltd., Oji Paper, and American Process Inc., among others.
Further Key Finding from the Report Suggestion:
- Based on product, Nano Fibrillated Cellulose generated a revenue of USD 146.4 Million in 2019 and expected to grow with a CAGR of 20.5% in the forecast period as it exhibits minimal oxygen permeability, making it suitable for various applications, such as paints & coatings, food packaging, paper processing, etc.
- Based on distribution channels, the Nanocrystalline Cellulose market generates a revenue of around 76.2% through offline mode in 2019 of the overall business.
- The composites sector is the major contributor to the market and is forecasted to reach USD 398.0 Million by 2027. The composite industry of the North America region is the major shareholder of the Nanocrystalline Cellulose market, holding around 37.0% of the market in the year 2027, owing to the wide variety of applications from the automotive industry for the growing demand of composites for lightweight vehicles.
- North America dominated the market for Nanocrystalline Cellulose. The consistent focus of the region on cost-effective and innovative procedures adopted in the area is driving the market. The North America region held approximately 37.0% of the Nanocrystalline Cellulose market, followed by Europe, which held around 32.0% market in the year 2019.
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The global Nanocrystalline Cellulose market is segmented into:
Product Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Million; 2017-2027)
- Nano Fibrillated Cellulose
- Nanocrystalline Cellulose
- Bacterial Nanocrystalline Cellulose
- Others
Distribution Channel Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Million; 2017-2027)
- Online
- Offline
Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Million; 2017-2027)
- Composites
- Paper Processing
- Food & Beverage
- Paint & Coating
- Oil & Gas
- Personal Care
- Others
Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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