The nanocellulose market is estimated to grow from USD 240.7 million in 2017 to USD 661.3 million by 2023, at a CAGR of 18.4% during 2018–2023.
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Browse 63 market data Tables and 27 Figures spread through 106 Pages and in-depth TOC on“Nanocellulose Market”
Goal to reduce vehicle weight
The rising fuel efficiency standards are generating demand for lightweight vehicles. The light-weighting of seats is also expected to be undertaken in the aerospace interiors by the coming decade. Reducing the weight of seats in an aircraft can lead to major aircraft weight reductions. Moreover, slimmer seats would enable the operators to increase in the number of seats.
In the automotive industry, one of the main goals is to replace the heavy steel structures within cars such as the set frames, with advanced reinforced polymers that have cost parity with traditional materials. Ford claims that it would be able to create automotive components from body panels to interior trim by using nanocellulose in the near future. The company has been investigating different methods of incorporating cellulose-based fillers in conventional automotive plastic compounds. This serves as an opportunity for the nanocellulose market.
Establishing public-private partnerships
Fostering public-private partnerships will aid in addressing the opportunities in the nanocellulose market. Private enterprises with experience in developing bio-based products can back a manufacturing innovation institute which in turn can drive the nanocellulose market. They can also improve the potential nanomaterials for a broad array of commercial products. The public-private partnership would also help in dealing with technical challenges of scaling nanocellulose processing and commercialization of nanocellulose.
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There is a need to better characterize cellulose nanomaterials with respect to their structure, surface properties, and performance. The nanocellulose-based products are manufactured on a small scale and maintaining their quality is not easy on a large scale. Companies are still under the process of achieving product standardization, as it can aid in better characterization of cellulose nanomaterials with respect to structure, surface properties, and performance. In Canada, CSA Group which is a leading standards development, testing, and certification organization has released the country’s first national standard on cellulosic nanomaterials. This new standard includes 20 test methods which allow the nanocellulose materials to be identified and characterized according to its unique properties.
Requirement of high-end machinery and expertise
High-end machinery and tools are required for the production of nanocellulose for a specific application. The production of nanocellulose has not yet commercialized also due to the lack of expertise. In addition, the few companies manufacturing this material have patented their technologies. High initial investments are required for the production of nanocellulose. However, with a prospective and pioneering approach toward the nanocellulose market, several laboratories are involved in extensive R&D activities. Currently, many pilot and demonstration plants have been built in order to improve, optimize, and scale-up the processes that are developed at laboratory scale. Industrial reactors with a suitable environment and modern control equipment are expected to be used for the same purpose. Companies in this market are looking forward to collaborating with new partners to develop new applications.
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