Renewable Attributes of Nanocellulose Promote
its Increased Adoption, Nanocellulose Market
to Reach US$699.6 mn Globally by 2023
Transparency Market Research has published a new report titled “Nanocellulose
Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 -
2023.” According to the report, the global nanocellulose market was valued at
US$54.9 mn in 2014 and is anticipated to reach US$699.6 mn in 2023, expanding at
a CAGR of 33.8% between 2015 and 2023.
Request to view Sample Report:
http://www.transparencymarketresearch.com/sample/sample.php?
flag=S&rep_id=2973
Extensive financial and technical support from government and research
organizations has been the key factor driving the nanocellulose market in the recent
past. Countries in North America and Europe have been supporting the
development of nanocellulose. Nanocellulose has the ability to lower carbon
footprint, as it is obtained from renewable sources. This is expected to boost the
usage of nanocellulose. Nanocellulose is primarily employed in composites, paints &
coatings, oil & gas, paper processing, food & beverages, and personal care
products. Superior structural strength of nanocellulose has been another key factor
for the growth of nanocellulose in recent past. Nanocellulose offers higher
mechanical strength vis-à-vis carbon fiber, Kevlar, and aramid fibers. Its superior
strength is expected to propel the usage of nanocellulose in composites. However,
technical and economic issues such as high production costs, plant scaling up, and
lack of product standardization and quality are likely to hamper market growth
during the forecast period.
Nanofibrillated cellulose was the largest product segment, accounting for more than
50% share of the global nanocellulose market in 2014. Nanofibrillated cellulose is
used in various end-user industries such as composites, paper processing,
pharmaceutical, paints & coatings, and oil & gas. Nanocrystalline cellulose held the
second-largest share of the global nanocellulose market in 2014. Nanocrystalline
cellulose is used in biocomposites, food & beverages, paints & coatings, packaging
films, and textiles. It has the ability to reduce damages caused due to humidity and
wear and tear. Thus, nanocrystalline cellulose is a suitable for packaging
applications. Bacterial nanocellulose constituted the lowest share of the
nanocellulose market among all product types. However, it is projected to be the
fastest growing product segment during the forecast period. Bacterial nanocellulose
is a biocompatible material that promotes chondrocyte proliferation and adhesion. It