Pune, India -- (SBWIRE) -- 03/23/2018 -- Segmentation
The Global Nanocellulose Market is segmented on the basis of type, application, and region. Based on type, the market is classified into nanofibrillar cellulose (NFC), nanocrystalline cellulose (NCC), bacterial cellulose (BCC). Based on the application, the market is categorized into composites & packaging, paper & board, paints & coatings, oil & gas, personal care, and others. Based on the region, the market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
Key Players
DAICEL FINECHEM LTD (JAPAN)
NIPPON PAPER INDUSTRIES CO., LTD. (Japan)
Borregaard (Norway)
CelluForce (U.S.)
Sappi Ltd. (South Africa)
Kruger Inc. (Canada)
STORA ENSO (Finland)
AmericanProcess Inc. (U.S.)
UPM (Finland)
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The Global Nanocellulose Market is segmented into five regions based on geography: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Among them, North America accounts for around 35% market share as of 2016 and is predicted to grow at a steady CAGR over the assessment period 2017-2023. The North American market is classified into the U.S and Canada. Comparatively, the U.S. accounted for the largest market share and is estimated to grow with a moderate CAGR on account of rising demand from cosmetic & personal care as well as healthcare products such as lotion & cream, sanitary napkins, antimicrobial films, and tampons. Furthermore, a significantly growing automobile sector in Mexico is predicted to fuel the demand for composites and automotive parts made of Nanocellulose. Additionally, wide use of Nanocellulose as a prominent intermediate in manufacturing of emulsion paints as well as continuous expanding paints & coating industry is estimated to propel the regional market growth. Rising demand from plastics industry along with increasing awareness about environment friendly as well as biodegradable products is predicted to fuel the demand.
The European Nanocellulose Market is classified into Germany, France, Italy, Spain, the UK, and Russia. Comparatively, Germany holds the largest market share and expected to continue speedy growth over the forecast period due to increasing use of cosmetics & personal care products such as lotions, anti-aging cream. Latin American countries such as Brazil, Venezuela, Argentina, and Colombia are the major contributors to the regional market growth due to strong consumer base for cosmetics & personal care industry as well as increasing disposable income.
Asia Pacific is predicted to witness a robust growth in Nanocellulose Market due to low setup manufacturing cost and rising consumer awareness towards the benefits offered by the product. Countries of Asia Pacific such as India, China, Japan, Malaysia, and South Korea dominate the market share and is estimated to grow a healthy CAGR on due to expanding end use industries. Furthermore, increasing consciousness about personal appearance, growing per capita disposable income, rising demand for packaged food, and ready to eat items are some other factors contributed in the regional market growth. The Middle Eastern & African countries such as Oman, Qatar, Turkey, Kuwait, Saudi Arabia, and the United Arab Emirates (UAE) are among the major contributors to the regional market growth due to rising oil exploration and mining activities.
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