Rockville, MD , Oct. 09, 2024 (GLOBE NEWSWIRE) — According to Fact.MR, a market research and competitive intelligence provider, the global Cellulose Nanofibrils Market is estimated to reach a valuation of US$ 265.0 million in 2024 and is expected to grow at a CAGR of 9.2% during the forecast period of (2024 to 2034).
The global market for Cellulose Nanofibrils (CNF) is positioned for great growth due to increasing demand for greener and biodegradable materials in a variety of industries. Regarding the growing demand for industries to be more “green,” CNFs are one such multifunctional answer that aptly meets the needs of the hour.
Due to their exceptionally high mechanical strength, low density, and thermal stability, CNFs are highly relevant to packaging, automotive, aerospace, and construction applications. Solid CNFs are specifically preferred because of their ease in integration into the current industrial processes, hence rendering the material efficient in storage, handling, and product performance. Such materials contribute to lightweight composite structures in automotive industries, promoting fuel efficiency and reducing emissions.
Within the U.S., the CNF market is gathering pace, with firms putting more emphasis on sustainability on account of strict environmental policies and consumerist preferences. This, therefore, results in an increased application of CNF-based products for packaging, where they are felt to be among the available options for plastics, using the trend of turning eco-friendly.
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Key Takeaways from the Market Study:
- The global Cellulose Nanofibrils market is projected to grow at 9.2% CAGR and reach US$ 638.9 million by 2034
- The market created an opportunity of US$ 373.9 million growing at a CAGR of 9.2% between 2024 to 2034.
- North America is a prominent region that is estimated to hold a market share of 15.3% in 2034
- Predominating market players include UPM, Daicel Corporation, and Nippon Paper Industries.
- Solid segment under form is estimated to grow at a CAGR of 9.4% creating an absolute $ opportunity of US$ 261.6 million between 2024 and 2034
- North America and East Asia are expected to create an absolute $ opportunity of US$ 109.3 million collectively.
“The cellulose nanofibril market is expanding rapidly due to the rising demand for biodegradable packaging and eco-friendly textiles, presenting significant growth opportunities,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Cellulose Nanofibrils Market:
Key industry participants like UPM; Daicel Corporation; Nippon Paper Industries; Kruger Inc.; J. Rettenmaier & Söhne GmbH; American Process Inc.; Engineered Fibers Technology, LLC; Asahi Kasei; Marusumi Paper Company; Ojio Holding; Other Prominent Players are driving the cellulose nanofibrils industry.
Market Development:
The scope for growth is immense for CNF, as most markets are in dire need of environmentally friendly, biodegradable materials in quite a number of industrial divisions. Growing awareness of environmental impact has triggered the search for alternatives to traditional plastics and fibers on the part of manufacturers. Besides, progress with manufacturing technology has progressively raised the level of efficiency and scalability for CNF; hence, it has become a very attractive option for packaging, textile, and bio-composite applications.
Research institutions and industry collaborations are necessary for the commercialization of CNF. The collaboration in nanotechnology helps in achieving the unique properties of CNF. CNF is turning out to be an important raw material in developing various environmentally friendly products, with an expanding market. This, in turn, is beneficial not only to the industries but also to the greener economy, hence making CNF one of the serious actors in sustainable material solutions.
The CelluFAB-SCE Nanocellulose and Application Research Center was established at Hanoi University of Science and Technology, funded by the Korea International Cooperation Agency (KOICA). The center will focus on researching and developing nanocellulose technology from bagasse and other wood and non-timber materials, with the goal of producing environmentally friendly products. The project aims to reduce carbon emissions and contribute to sustainable development, with the long-term goal of significantly reducing the greenhouse effect.
Cellulose Nanofibrils Industry News:
- With funding from the Korea International Cooperation Agency (KOICA), Hanoi University of Science and Technology developed the CelluFAB-SCE Nanocellulose and Application Research Center. In order to create goods that are beneficial to the environment, the center will concentrate on studying and developing nanocellulose technology from bagasse and other wood and non-timber materials. The project’s long-term objective is to drastically lessen the greenhouse impact while also reducing carbon emissions and promoting sustainable development.
- A CNF-based encapsulating structure for efficient controlled medication release was created in January 2021 by researchers from Tianjin University and the Qingdao Institute of Bioenergy and Bioprocess Technology. In order to create a composite hydrogel that can further limit burst release and lengthen the time of drug release, the study published in ACS Applied Materials & Interfaces focuses on mesoporous polydopamine nanoparticles and graphene oxide. With its excellent mechanical and biocompatibility, this new design has promising uses in medication delivery systems and therapy.
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More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the global Cellulose Nanofibrils Market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights based on the Global Cellulose Nanofibrils Market Analysis, By Form (Liquid, Solid, Gel), By Application (Composites and Packaging, Pulp and Paper, Rheology Modifiers, Coatings and Adhesives, 3D Films and Printing, Biomedical Applications, Textiles and Nonwovens, Construction Materials, and Others), and across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, and Pacific, Middle East & Africa).
Segmentation of Cellulose Nanofibrils Industry Research:
- By Flash Point:
- Liquid
- Solid
- Gel
- By Application:
- Composites and Packaging
- Pulp and Paper
- Rheology Modifiers
- Coatings and Adhesives
- 3D Films and Printing
- Biomedical Applications
- Textiles and Nonwovens
- Construction Materials
- Others
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