An increase in cellulose demand for various applications, as well as a shift in the trend of using bio-based goods, are driving demand for the nanocellulose products. Because of its various properties, such as increased paper machine efficiency, better filler content, lighter base mass, and higher freeness, nanocellulose is suitable for a wide range of products. The food and beverage industries, as well as the paper and pulp industries, are major contributors to the country's product growth.
The COVID-19 has led to a reduction in product consumption, which can be believed to be due to the administration's system to enhance the product's quality in order to maintain social disconnection, confinement, and store number of occupants. The market was negatively impacted by COVID-19. Manufacturing activities were halted due to supply chain disruptions and labour shortages, or as a precautionary measure to prevent the virus from spreading, negatively impacting the market.
Nanocellulose Material Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Blue Goose Refineries, Borregaard AS, Cellu Force, CelluComp, Fiber Lean, GranBio Technologies, Kruger INC, Melodea Ltd, NIPPON PAPER INDUSTRIES CO., LTD., Stora Enso Biomaterials
Global Nanocellulose Material Market Segmentation:
By Type: Based on the Type, Global Nanocellulose Material Market is segmented as; MFC & NFC, CNC/NCC, BNC, TC, ANC, CNY, Others.
By Raw Material: Based on the Application, Global Nanocellulose Material Market is segmented as; Wood, Non-Wood
By Application: Based on the Technology, Global Nanocellulose Material Market is segmented as; Pulp & Paper, Composites, Biomedical & pharmaceuticals, Electronic Sensor, Cosmetics, Oil, Gas, Food & Beverage, Others
By Region: North America is expected to be the second largest consumer of nanocellulose, after Europe, due to its high consumption potential, rising manufacturing capacity, increasing economic development rate, increasing need for lightweight passenger cars, and desire for environmentally friendly food and beverage packaging. The United Kingdom is Europe's largest consumer of nanocellulose. The market in the United Kingdom is expected to grow exponentially due to a shift in customer demand for plant-based ingredients in food and beverages, pharmaceuticals, electronics, and other applications. Facility expansions, acquisitions, and collaborations, as well as R&D expenditure, are some of the key factors expected to drive product demand. The nanocellulose market has been divided into four regions: Europe, North America, Asia Pacific, and the Rest of the World. Europe has the largest and fastest-growing nanocellulose market, owing to rising demand in the pulp and paper industry, as well as increased investment in nanocellulose research and development. Product development projects in Europe have been funded by both the public and private sectors. During the forecast period, these factors are expected to increase demand for nanocellulose in the region.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.