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The global nanocellulose market size is projected to reach USD 1053.09 million by 2027 owing to the increasing implementation of the material in the packaging industry, says Fortune Business Insights™ in its report, titled, “Nanocellulose Market Size, Share & COVID-19 Impact Analysis, By Type (Microfibrillated Cellulose, Cellulose Nanofibrils, Cellulose Nanocrystals, Bacterial Cellulose, and Others), Application (Cement & Composite Materials, Textiles & Nonwovens, Paper & Packaging, Food Products, Cosmetics & Toiletries, Filter Materials, and Others), and Regional Forecast, 2020-2027.” As per the report findings, the market value stood at USD 291.53 million in 2019 and is estimated to register a CAGR of 19.9% from 2020 to 2027.
Norske Skog Develops a New Variant of CEBINA
In December 2020, Norske Skog developed a new variant of CEBINA, a cellulose nanofibril product, by replacing the suspension liquid with a polymer instead of water. This enabled the use of CEBINA in epoxy floor coverings and adhesives. Using this material, Norske developed an epoxy coating for floor demonstrations in collaboration with Re-Turn, Gjøco AS, and Solberg Gulv & Industribelegg. The process of producing CEBINA comprises breaking down of the fiber into simple portions i.e. cellulose nanofibrils. The material forms a network of micro-length and nano-width thread.
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Increasing Amount of Plastic Waste to Drive Growth
The increasing production of plastic has become a concerning matter for the environment. The material’s non-degradable nature makes the issue adverse. According to National Geographic, annually, a total of 8 million tons of plastic waste gets into oceans from coasts. Owing to such factors, the packaging industry is switching to other alternatives, such as nanocellulose, for packaging material. This is increasing the demand for the material on a global scale. The surging utilization in the packaging industry is driving the nanocellulose market growth.
In addition, the rising research and development activities to identify new applications of nanocellulose are projected to further strengthen its demand. However, factors, such as the high cost of production, are estimated to hinder the growth in the future.
Collaboration with Suppliers to Aid Prominent Players Enhance Productivity
Key players operating in the global market are focusing on collaboration with various suppliers in order to enhance their productivity. For instance, in February 2020, GranBio Technologies, a subsidiary of GranBio, signed a supply partnership with Birla Carbon, an Indian company, for the supply of biomass-based nanocellulose for the replacement of carbon black, an oil by-product used in the tire & rubber industry.
An Industry Development:
A List of Key Manufacturers Operating in the Market:
Further Report Findings:
Table of Segmentation
Volume (Tons); Value (USD Million)
By Type, Application and By Geography