The composites nanocellulose market application segment to gain slightly lesser than 40% by the end of the forecast spell owing to its huge applications while the food and beverage segment is said to surpass USD 90 million by 2024.
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In the nanocellulose market, nanofibrillated cellulose segment is said to gain the highest share of over USD 540 million by 2024 owing to its superior properties. Bacterial nanocellulose market will grow at a highest CAGR of over 40% to capture a market share close to USD 27 million by 2024.
The global nanocellulose market size will likely surpass USD 1 billion by 2024. Nanocellulose industry is driven by its applications in the food & beverage packaging materials, due to its exceptional characteristics which help prevent the food content spoilage and blocks the oxygen entry in it. Moreover, the product is used to substitute polystyrene-based foams and also helps improving the shelf life, thus improving the overall food quality. Furthermore, the nanocellulose market will further be augmented by the integration of nanomaterials in food packaging. This will lead to a reduction in food waste as it preserves the freshness of packed food.
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Another driving factor for nanocellulose market is the Asia Pacific region which has a vast growing population with enormous rising income levels of consumers. Increasing number of developing countries in this region, coupled with exponential growth rates will spur the personal care and cosmetics industry in Asia Pacific. People living in the developing countries of this region have started to improve their lifestyles and standard of living due to the growth in the corporate culture. This has led to increasing awareness of personal grooming and hygiene. Rising use of cosmetic products, fragrances, and other personal care products will propel the cosmetic and personal care industry, eventually boosting the market in future.
Moreover, due to recent technological advancements and product development, there is a lesser awareness of these composites in the industry. Manufacturers in various industries do not know about these submicroscopic particles and their properties. This unawares of the product will result in slower the market growth in the forecast timespan.
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The composites segment is said to gain market share slightly lesser than 40% by the end of the forecast spell wing to its huge applications. In terms of revenue, the food and beverage segment is said to surpass USD 90 million by 2024 in the overall nanocellulose market. In terms of revenue, oil & gas segment is said to grow at a highest CAGR in the future years.
North America is said to capture over 40% share in the entire nanocellulose market by 2024 owing to technological upgradations and industrial and manufacturing developments in this region. Asia Pacific will exhibit growth at a lucrative rate to surpass USD 210 million by the end of the forecast period.
Key nanocellulose market players currently present include Nippon Paper Group Inc., Borregard ASA, Sappi Ltd., Innventia AB, Asahi Kasei Corporation, J. Rettenmaire & Sohne GmBH (JRS), Kruger Inc., Fpinnovations, CelluForce Inc., CelluComp Ltd., Melodea Ltd., Daicel FineChem Ltd., Stora Enso and American Process Inc.
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Partial Table of Contents (ToC) of the report:
Chapter 3. Nanocellulose Industry Insights
3.1. Industry segmentation
3.2. Industry size and forecast, 2013 – 2024
3.3. Industry ecosystem analysis
3.3.1. Raw material analysis
3.3.2. Manufacturing trends
3.3.3. Profit margin
3.3.4. Value addition
3.3.5. Distributor channel analysis
3.3.6. Vendor matrix
3.3.6.1. List of key raw material suppliers
3.3.6.2. List of key manufacturers/distributors
3.3.6.3. List of key potential customers
3.4. Innovation & sustainability
3.4.1. Patent analysis
3.4.2. Technology landscape
3.4.3. Production process
3.4.4. Comparison of manufacturing techniques
3.4.5. Future trends
3.5. Industry impact forces
3.5.1. Growth drivers
3.5.1.1. Global drivers
3.5.1.1.1. Strong product demand across packaging industry
3.5.1.1.2. Rising food & beverage industry across the globe
3.5.1.1.3. Rising demand for technologically advanced sustainable product across various end-user industries
3.5.1.2. Regional drivers
3.5.1.2.1. Rapidly growing oil & gas industry in North America
3.5.1.2.2. Rising personal care industry in Asia Pacific
3.5.2. Industry pitfalls & challenges
3.5.2.1. High product prices
3.5.2.2. Lack of consumer awareness
3.6. Regulatory landscape
3.6.1. U.S.
3.6.2. UK
3.6.3. China
3.7. Growth potential analysis
3.8. Regional price trends
3.8.1. Cost structure analysis
3.8.1.1. R & D cost
3.8.1.2. Manufacturing & equipment cost
3.8.1.3. Raw material cost
3.8.1.4. Distribution cost
3.8.1.5. Operating cost
3.8.1.6. Miscellaneous cost
3.8.2. Price by product
3.8.3. Price by application
3.9. Competitive landscape, 2016
3.9.1. Company market share analysis, 2016
3.9.1.1. Global
3.9.1.2. Regional
3.9.1.3. Strategy dashboard
3.10. Porter’s analysis
3.10.1. Supplier power
3.10.2. Buyer power
3.10.3. Threat of new entrants
3.10.4. Industry rivalry
3.10.5. Threat of substitutes
3.11. PESTEL analysis
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Release ID: 456932
