Global Nanocellulose Market Value Projected to Reach $250 Million by 2019

 

MarketsandMarkets, Dallas, Tex., USA, released a new report earlier this month titled "Nanocellulose Market by Type (Cellulose nanocrystals, Cellulose nanofibrils, cellulose nanocomposites, and others), Application (Composites and Packaging, Paper and Paper Board, Biomedicine, Rheology Modifier, Flexible Electronics and Sensors, and Others), and Geography - Regional Trends & Forecast to 2019" detailing how the Nanocellulose Market is projected to register a market size in terms of value of $250 Million by 2019, signifying firm annualized CAGR of 19% between 2014 and 2019.

Rising demand for technological advancements in end-user industries is driving the nanocellulose market

The application of nanocellulose in the end-user industries is witnessing a revolutionary change mainly due to the commercial development of nanocellulose driven by the increasing petroleum prices and the high-energy intensity in the production of chemicals and synthetic polymers. Nanocellulose is being developed for the novel use in applications ranging from scaffolds in tissue engineering, artificial skin and cartilage, wound healing, and vessel substitutes to biodegradable food packaging.

Nanocellulose is considered as a viable alternative to the more expensive high tech materials such as carbon fibers and carbon nanotubes. Since nanocellulose is made from tightly packed array of needle like crystals, it becomes incredibly tough. This makes it perfect for building future body armors that are both strong and light. Nanocellulose is also being used to make ultra-absorbent aerogels, fuel efficient cars, biofuel, and many more. Nanocellulose has also been used as a tablet binder in the pharmaceutical companies, with gradual increasing applications in tampons, advance wound healing, and developing a vital role in existing healthcare products.

North America is projected to drive the highest demand for nanocellulose in its end-user industries by 2020. North America is the largest market for nanocellulose currently and the same is expected to continue till 2019. This is because of continuous technological innovations, advancements in healthcare industry, and rising focus on biodegradable food packaging. Europe market is expected to register second highest growth rate after North America. The Asia-Pacific market is expected to show a steady growth rate but the market is currently lower than North America and Europe. The U.S. and European countries are projected to be the hub of nanocellulose manufacturing in the world and are projected to be the major consumers of nanocellulose by 2019.