Nanocellulose Market to Reach USD 1.08 Billion by 2027 | CAGR:20.4% | Reports And Data – PRNewswire

NEW YORK, June 17, 2020 /PRNewswire/ -- The globalNanocellulose marketis forecast to reach USD 1.08 Billion by 2027, according to a new report by Reports and Data. The market is seeing an expanded interest from the composites sector owing to its critical characteristics, including biodegradability, non-toxicity, and sustainability, along with thixotropic Nanocellulose properties. However, volatile prices of raw materials arising necessity for exploring and adopting other content as a substitute to reduce the overall cost of the operation will be hampering the demand for the market.

Cosmetics would have substantial potential for Nanocellulose across the forecast period. It is used as a synthetic covering agent for fingers, eyes, eyebrows, or eyelashes in cosmetics. The product also provides antioxidant properties and is now used in products for sun care. It is also used for wound dressings in the surgical profession and regenerative medicine. Other uses include pharmaceuticals, tobacco filter additives, computer components, electronic displays, condensers, lithium battery films, lightweight body armor, loudspeaker membranes, and ballistic glass. However, low awareness about product use and high prices may, in the coming years, somehow hamper the demand. Nano fibrillated cellulose held the highest share in the overall market in 2019.

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They possess exceptional properties, including superior strength, lightweight, transparency, and rigidity, among others, which makes them viable for many commercial applications across composites, oil & gas, food & beverage, automotive, aerospace, and personal care industries. Nano-fibrillated cellulose could also be a future replacement for plastic films in composite packaging due to the low oxygen permeability. The composites segment was the largest application segment in the overall market in 2019 by volume. Nowadays, composites are used widely in many applications. It is used in refurbishments as filler stuff. End-users are increasingly concerned about the application of synthetic fillers in composites and the environmental concerns associated with that application. Thus, replacing synthetic pads with natural ones like cellulose fibers will bring many positive environmental benefits as the product offers good thermal conductivity, low density, and biodegradability, owing to increasing personal care and food & beverage industries in the area. The market in the Asia Pacific region will propel the product demand over the projected period. Countries, including China, Japan, and India, have played a significant role in enhancing the nanotech profile of the region. Japan's AIST Nanocellulose Forum, for example, is focused on strengthening cooperation between industry, universities, and government.

The COVID-19 Impact:

As the COVID-19 crisis continues to intensify, producers are quickly adapting their activity and purchasing objectives to satisfy the demands of a pandemic that has limited the need for Nanocellulose in the market. A sequence of both positive and negative shocks may arise over a few months, as producers and their vendors respond to the evolving demands of customers. The export-dependent economies in several nations look weak, with an adverse global circumstance. Global Nanocellulose markets are reshaped by the effects of this pandemic, as some suppliers are either shutting down or reducing their output, due to a lack of demand from the downstream market. Although others are getting their production suspended as a precautionary step by their respective governments to prevent the spread of the virus. In certain countries, consumers based on being more regional by looking at the magnitude of the epidemic and the consequent behavior of the national authorities themselves. Under these circumstances, market conditions of the Asia Pacific regions were quite dynamic, weakening regularly, making stabilizing themselves difficult.

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Further key findings from the report suggest

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For the purpose of this report, Reports and Data have segmented into the global Nanocellulose market on the basis of product, distribution channel, application, and region:

Product Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Million; 2017-2027)

Distribution Channel Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Million; 2017-2027)

Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Million; 2017-2027)

Regional Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Million; 2017-2027)

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Nanocellulose Market to Reach USD 1.08 Billion by 2027 | CAGR:20.4% | Reports And Data - PRNewswire