Global Nanocellulose Market worth US $1.5Bn 2024 with a CAGR of 21.43%

COVINA, Calif. - Feb. 25, 2021 - PRLog -- Global nanocellulose market is projected to grow up to US $1.5Bn by 2024. The properties of the nanocellulose material such as strength, recyclability, eco- friendly nature, and versatility which is the major driving factor for the growth of the global nanocellulose market. Additionally, nanocellulose gives the excellent thermal, mechanical, and structural properties because of these properties it has a wide range of the application such as paints, coatings, composites, and paper processing which propels the growth of the global market. Nevertheless, by increasing awareness about the nanocellulose and its properties among the population which can create an opportunity for the growth of the target market.

Key Highlights:

• In 2019, Oji Holdings Corporation and Nikkol Group, Nikko Chemicals Co. Ltd, have been jointly developing Cellulose Nanofiber (CNF) for cosmetic ingredients and delivered to commercialize it as AUROVISCO CS.

Key Market Insights from the report:

The global nanocellulose market is projected to register a moderate CAGR of 21.43% over the forecast period. The market report has been segmented based on product, end-user and region.

• By Product, the global nanocellulose market is segmented into cellulose (NFC), nanocrystalline cellulose (NCC), bacterial cellulose (BC), microfibrillated cellulose (MFC), and other product types.
• By End-user, the target market is segmented into paper processing, paints and coatings, oil and gas, food and beverage, composites, pharmaceuticals and cosmetics, and other end users.
• By Region, the market in the North America region is dominating the region due to increasing adoption of flexible packaging aids. Asia- Pacific region is expected to dominate the target market over the forecast period due to increasing use of nanocellulose for the packaging.

To know the upcoming trends and insights prevalent in this market, click the link below:

https://prophecymarketinsights.com/market_insight/Global-Nanocellulose-Market-By-Product-3937

The prominent player operating in the global nanocellulose market includes GranBio (GranInvestimentos S.A.), Axcelon Biopolymers Corporation, Borregaard, CelluComp, CelluForce, Chuetsu Pulp & Paper Co. Ltd., Daicel Finechem Ltd., Fiberlean Technologies, Melodea Ltd., and Nippon Paper Industries Co. Ltd.

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