Rapidly growing pharmaceuticals and packaging industries is one the major factors underpinning growth of the global nanocellulose market. Asia Pacific is one of the major contributors in the nanocellulose market. This is mainly attributed to the booming industries in developing countries such as India and China. The Indian pharmaceuticals industry accounted for total revenue of US$ 31 billion in 2016. This is augmented by various government initiatives such as Make In India, which has attracted many foreign investors in the region. To meet the increasing demand for products, in December 2015, the Department of Pharmaceuticals under the Ministry of Chemicals and Fertilizers launched the Cluster Development Programme for Pharma Sector (CDP-PS).
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Research and development for increasing the area of application is one of the key strategy adopted by the top players in nanocellulose market. Innovative products such as aerogels, bioactive materials composites, and inorganic/organic hybrid materials are under development. Research is also being carried out for using Nanocellulose in the manufacturing of vehicles, owing to properties such as lightweight and high strength. Some of the major companies operating in the global nanocellulose market are Daicel Corporation, American Process, Inc., Chuetsu Pulp & Paper Co., Ltd., Novozymes , Borregaard Chemcell, Daio Paper Corporation, Imerys, Kruger Bioproducts, Inc, Stora Enso Ltd., Ineos Bio, Innventia, Ashai Kasei Chemicals Corporation, Shanghai Rongou Chemical Technology Co., Ltd and Innventia AB,.
Nanocellulose Market Taxonomy
On the basis of product type, the global market is classified into:Cellulose nanocompositesCellulose nanocrystalsCellulose nanofibrils
On the basis of end-use industry, the global market is segmented into:BiomedicineComposites and PackagingPaper and Paper boardRheology ModifierFlexible Electronics and Sensors
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Cellulose nanofibrils (CNF) are also known as nanofibrillar cellulose (NFC). Cellulose nanofibrils are advanced biomaterial produced primarily from renewable agricultural and forest resources that have proved exceptional performance in composites. Nanocellulose-based sensors are used to monitor stress levels of structures such as bridges. Nanocellulose is also used as a food packaging material as a substitute to polystyrene-based foams. It prevents the wastage of food contents and oxygen penetration in the food contents. In biomedicine industry, nanocellulose is used in pharmaceutical formulations in a powdered form. In cosmetics industry, nanocellulose is used in hair, nails, eyebrows or eyelashes as a composite coating agent.