North America Nanocellulose Market is likely to progress as a leading region in the world with a CAGR of 13.4% in the projection period between 2023-2028
North America is a hub for various production industries and construction and the growth of nanocellulose market is majorly attributed to the various research and development activities taking part in North America, especially in the USA and Canada.
This growth in the industry can also be credited to the developments in the healthcare sector. The paper industry is still going strong, and with the advancement in technology such as the introduction of nanocellulose materials, it is now possible to create high-quality paper with superior characteristics. The regional nanocellulose market is also driven by the demand from healthcare and pharmaceutical industries.
Covid-19 has had a severe impact on several industries, including construction and production activities as they all came to a halt. On top of this, Nanocellulose particles are very expensive, and thus many times they are not incorporated into the manufacturing processes. This cost ineffectiveness may likely be a factor that hinders growth.
Microfibrillated Cellulose (MFC)
Cellulose Nanocrystals
Pulp and Paper
Composites and Packaging
Biomedical and Pharmaceutical
Electronics & Sensors
The pulp and paper segment at the moment, has the most extensive application of nanocellulose. These materials are used to produce lighter and stronger paper products. On top of this, it also helps in the reduction of costs. The properties such as porosity, printing quality, opacity etc are higher when produced with the help of nanocellulose.
The biomedicals and pharmaceuticals segment accounted for the largest share of the Nanocellulose market during the coronavirus period. Nanocellulose-based drugs have also shown positive growth in the past few years and with development in healthcare, more investments are likely to follow in this segment.
Nanoscale dimensions of MFC and NFC are causing a proliferation in demand for the nanocellulose products. Bio-based nanocomposites are also in demand due to their advanced properties on top of being environment friendly.
Clinical trials in Canada for investigational therapy is likely to promote the market for Nanocellulose market in the North American region.
The United States is anticipated to rule North America nanocellulose market because of the surge in investments and funds from manufacturing firms as well as academic and research institutes for the research and development of gene-based end products that include precision medicine and other therapeutics. The healthcare sector in the area is also witnessing huge investments after the coronavirus pandemic.
Kruger INC
American Process INC
Biogen International
BlueGoose refineries
Trilink Biotechnologies
North America, especially the USA is the hotspot for the coronavirus with infection rates rising every week. Amidst this, the economies have contracted by 25% and it has an adverse effect on every sector. However, the Nanocellulose market saw a subtle increase in demand during this period as clinical trials for vaccines were going on and the search for a foolproof vaccine was in full swing. Despite the slowdown of the paper and pulp market, a lot of investments are being made in the pharmaceutical and healthcare sector that is likely to boost the growth of the Nanocellulose market in the future.
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