In a recent published report, Kenneth Research has updated the market report for Nanocrystalline Cellulose Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Nanocrystalline Cellulose Market products.
Nanocrystalline Cellulose Market is expected to make a huge positive impact on various end-user industry verticals, due to its unique properties such as controlled release, high aspect ratio, and good water uptake etc.
Nanocrystalline Cellulose Market: Market Dynamics
Nanocrystalline cellulose market is mainly driven by rising product consumption for various end-use industries such as mining, automotive, and paper & pulp, etc. Increasing consumption of nanocrystalline cellulose based composites in the manufacture of automotive accessories such as headliners, headlamps, and cushions is expected to drive the global market significantly.
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Moreover, rising product consumption in paper processing applications is also another major driver for the growth of the market.
Increasing product consumption in the oil & gas industry is also one of the major factors assisting the growth of the market over the coming years. Nanocrystalline cellulose can be used as a rheology modifier, thickener, and viscosifier in drilling muds. The product also finds its applications in the paints & coatings industry as a functional additive to change rheological properties.
The nanocrystalline cellulose market is majorly threatened by the availability of substitutes such as cellulose ethers and microcrystalline cellulose. Moreover, the market can further be restricted by unfavorable environmental regulations over the next few years.
Nanocrystalline Cellulose Market: By Application
Nanocrystalline cellulose market for toughened paper is expected to have the dominant market share throughout the forecast period. Nanocrystalline cellulose enhances the fiber bond strength along with providing higher reinforcement on paper materials.
Additionally, nanocrystalline cellulose adds higher filler content and also provide better optical properties. Due to these properties, the players in paper & pulp sectors are highly preferring nanocellulose crystalline materials for the manufacture of toughened paper. This factor is expected to enhance the product demand, and help the market growth over the coming years.
Nanocrystalline Cellulose Market: By Region
North America and Europe are predicted to dominate the global market over the entire projected period. The U.S. regional market majorly attributes to the overall product demand in North America.
Huge industrial base, coupled with rising oil & gas production in the U.S. is the major factor attributing to the North America nanocrystalline cellulose market share over the projected period. Europe is majorly dominated by the countries present in Western Europe, owing to the product demand from paper & pulp, and plastic end-use industries.
Asia Pacific nanocrystalline market is anticipated to become the major market shareholder by the end of 2025. The regional market size is primarily attributed by China and Japan. Huge industrial growth in these two countries, along with India is significantly impacting the Asia Pacific regional market over the projected period.
Nanocrystalline Cellulose Market: Competitive Landscape
Some of the prime players in the global nanocrystalline cellulose market include Celluforce, American Process, Inc., Daicel Corporation, Asahi Kasei Corporation, Cellucomp Ltd and Innventia AB among several others.
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