SELBYVILLE, Del. - July 6, 2020 - (Newswire.com)
As per Global Market Insights Inc., the nanocellulose market is expected to hit nearly $418.2 million by 2026, registering a CAGR of 21.4% from 2020 to 2026. The report provides a detailed analysis of the opportunities and drivers, key avenues of investment, top winning strategies, competitive scenario, market estimations as well as size, and wavering industry trends.
Nanocellulose is extensively used across the oil & gas industry, mainly in upstream processes. It is utilized in the resource extraction phase where resources are extracted from underneath the ground. The product also plays a key role in the suspension methods for the extraction of oil out of the ground. Adding nanocellulose to suspensions decreases the volume of water as well as pressure to carry out the extraction. Additionally, exceptional properties of nanocellulose might also help carry out the extraction of resources in areas where it is presently not possible.
The expanding North America oil & gas industry, attributed to the rising energy needs from numerous end-user industries like power and transportation, coupled with the availability of vast oil reserves, will help in fueling the nanocellulose market demand over the coming years.
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In terms of product, the other segment is likely to hold a minor revenue share of nearly 2.9% in the overall nanocellulose market by the end of the forecast time period. Gluconacetobacter xylinus is the prominently used species of bacteria that is involved in the production of other nanocellulose at the commercial scale. The cellulose grows with the help of bacteria and is specifically produced as a hydrated and relatively pure cellulose membrane. Among the three kinds of nanocellulose, it is considered as a very pure cellulose with narrow size distribution having the maximum degree of crystallinity.
Key reasons for nanocellulose market growth:
- Growing product consumption across North America.
- Increasing adoption in the Food & Beverages sector.
- Increasing application scope in composites.
2026 forecasts anticipate the ‘food & beverages’ application segment showing appreciative growth:
The food & beverage application segment will account for over 10.5% of revenue share in the overall market landscape over the forecast timeframe. Nanocellulose in the F&B segment is used as a flavor carrier, suspension stabilizers, and non-caloric food thickener. Furthermore, nanocellulose also serves as a barrier material against grease/oil, water vapor, oxygen in food packaging. The product has been beneficial for producing puddings, gravies, wafers, soups, chips, fillings, and crushes among other food products. Owing to the rheological behavior of the nanocellulose gel, the food applications are anticipated to be a high growth field for the nanocellulose business over the coming years.
Latin America & Asia-Pacific nanocellulose industry to witness appreciative growth:
Latin America's nanocellulose industry will witness stable growth with a CAGR of more than 20.9% over the forecast time period. Expansion of the construction market in Cuba, Colombia Peru, and Brazil together with easy petrochemical trading with Middle Eastern countries will boost the nanocellulose market in Latin America. The F&B industry of Latin America has observed a significant rise in the current decade.
The pursuit of free trade agreements by Mexico with several countries across the world has further made it a considerably competitive manufacturing market. Moreover, the rising GDP of Mexico and Brazil along with the growth in the end-user industries like construction, healthcare, and automotive among others will be the key factors for regional market growth.
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The Asia Pacific will foresee the growing economic potential for nanocellulose market players by the end of the analysis timeframe, with the expanding oil & gas, F&B, and personal care industries. In addition, Australia, Japan, India, and China are key countries that are driving the region’s nanotechnology profile.
Leading market players:
The key market players analyzed in the nanocellulose industry report include Holmen AB, Borregaard ASA, Kruger, Sappi Limited, J. Rettenmaire & Sohne, Nippon Paper Group, American Process, Stora Enso, Innventia AB, CelluComp Ltd, FPInnovations, CelluForce, Asahi Kasei Corporation, Melodea Ltd., Oji Holdings Corporation, and Daicel Corporation among others.
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About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting, and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company level, and cross-sectional statistics that make our offering a stand-out for decision-makers.
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Original Source: Nanocellulose Market is projected to exceed $418.2 million by 2026, Says Global Market Insights Inc.
