The global nanocrystalline cellulose market islikely to experience considerable growth over the period of assessment, from2018 to 2016. This renewable nanomaterial has garnered substantial attention inrecent times due to its exceptional properties. Physical and biologicalproperties of nanocrystalline cellulose like biodegradability, surfacechemistry, biocompatibility, and low toxicity make it a desirable material for substantialuse in biomedical industry.
Oji Holdings Corporation, NIPPON PAPER INDUSTRIES CO.,LTD, AmericanProcess Inc, RISE Innventia AB, CelluForce, and Melodea Ltd are a few of thewell known players in the global nanocrystalline cellulose market.
Through utilization extensive research methods, Transparency MarketResearch (TMR) has come up with a comprehensive report on the globalnanocrystalline cellulose market. Experts at TMR prophesize that the globalnanocrystalline cellulose market would clock a staggering growth rate of 31%CAGR over the period of assessment, from 2018 to 2026.
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Asia Pacific Driven by Expansion of Oil andGas Industry to Support Growth of the Market
The global nanocrystalline cellulose market is classified into theprincipal regions of Latin America, Middle East and Africa, East Europe, AsiaPacific, West Europe, and North America. Such region-based segmentations areexpected to offer deep insight of the global nanocrystalline cellulose marketand how several factors influence growth of the market.
From the geographical standpoint, both Western Europe and North Americaare expected to command leading shares of the global nanocrystalline cellulosemarket over the forecast tenure. A rise in demand for lightweight compositesfrom the automotive sector will augment the use of nanocrystalline cellulose inboth Western Europe and North America. In the Asia Pacific region, SouthEast Asian countries like Singapore, Malaysia, Indonesia together with Chinaare estimated to drive the demand for nanocrystalline cellulose in the region.Expansion of the oil and gas exploration activities in the South China Sea willcreate more demand for nanocrystalline cellulose.
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In addition, the market is likely to witness a rise in demand in theMiddle East and Africa and Latin America owing to extensive use ofnanocrystalline cellulose in the preparation of mud drilling. In addition,nanocrystalline cellulose is copiously used in the oil and gas industry ofthese regions.
Properties of Nanocrystalline Cellulose Make it aSubstance of Choice in Many Industries
Renewable biomass is utilized in the making of nanocrystallinecellulose, which is a cost effective procedure. This material does not pose anythreat to the environment as it comes with low toxicity. As such, it findabundant use as reinforcing agent in the making of industrial biocomposites.Many end user sector like paints and coatings, paper processing,pharmaceuticals, and composites manufacturing make use of nanocrystallinecellulose. In addition, textiles, construction, and oil and gas industries are alsoadopting the material for use in various applications, which supports growth ofthe global nanocrystalline cellulose market
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Nanocrystalline cellulose has outstanding rheological, chemical,optical, and mechanical properties that have rendered the material fit for usein many applications across several industries, from oil drilling to paperprocessing. Furthermore, increased funding and support from various governmentsencourage progress of the global nanocrystalline cellulose market. In Europeand North America, several universities and government funded organizations runresearch programs on advanced substances, which benefits in the expansion ofthe market in years to come.
In the oil and gas industry, nanocrystalline cellulose is a material ofchoice for drilling fluids. It is the ability of nanocrystalline cellulose tochange the viscosity of drilling fluids, which leads to saving of time andmoney. The global nanocrystalline cellulose market is also likely to driven bydemand arising from the biomedical sector. Antimicrobial therapy, tissueengineering, and implantations are some of new avenues of scope fornanocrystalline cellulose.
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On the other hand, high cost of nanocrystalline cellulose is likely toimpede growth of the market over the forecast period.
In coming years,as the debate on the potential impact of the chemical manufacturing acrossindustries on the ecology gets fiercer, new monitoring technologies willemerge. Latest compliance regulations will expand the scope of greenchemistries for businesses in the downstream value chain. Further,manufacturers in the market will increasingly leverage digital channels to reachhigh-value customers. Many will use them to avoid disruption such as by pandemics.
An assortment ofanalytics technologies will help in augmenting the commercial productivity.However, until now, the pace of adoption of digital technologies in the overallchemicals industry has been relatively slow. It thus remains to be seen how farthe players in the market will be able to unlock long-term productivitybenefits of AI-driven management of various business functions, particularlyresearch and development and production.
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