Fior Markets launched a study titled “Global Nanocellulose Market by Type (Nanocrystalline Cellulose, Nanofibrillated Cellulose, Others), Application, Region”, and Global Forecast 2018-2025.
The global nanocellulose market is expected to grow from USD 271.26 Million in 2018 to USD 1076.43 Million by 2025 at a CAGR of 18.80% during the forecast period, 2018-2025. On account of its properties of biodegradability and high tensile strength and strength to weight ratio has led Nanocellulose materials finding immense application value in biomedical, healthcare and packaging and composites sectors. Availibility of naturally occurring raw material in abundant quantities as well as rising investment on the research and development activities is providing a major boost to the market growth.
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Bacterial Nanocellulose is anticipated to grow at a CAGR of 25.74% in 2018-2025
The type segment is divided into Nanocrystalline cellulose, Nanofibrillated cellulose, Bacterial Nanocellulose and others. Bacterial Nanocellulose segment is projected to clock the highest growth rate among all segments at a CAGR of 25.74% over the forecast period. Bacterial Nanocellulose is utilized in biomedical and healthcare sector for biomedical transplant and drug delivery systems. Huge research activities in healthcare and medicine fields is expected to boost this demand. Nanofibrillated segment dominated the market in 2017 due to its widespread applications in wood and paper and composites industry.
Pulp and Paper accounted a revenue of USD 69.79 million in 2017
Application segment is subcategorized into pulp and papers, biomedical and pharmaceutical, composites and packaging, electronic sensors and others. Pulp and paper segment led the global market for nanocellulose materials on account of its utilization as an additive material for making lighter and durable varieties of cardboards and paper. Pulp and paper clocked a revenue of USD 69.79 million in 2017. Composites and packaging segment is also expected to grow at a robust pace on account of rising demand for ecofriendly, strong and lightweight packaging materials.
Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Europe dominated the global market for nanocellulose materials with 48.19% of total revenues in 2017 and is expected to continue to hold its grip due to continuous demand from paper and pulp industries in Scandinavian region combined with robust research and development activities leading to newer applications. Asia pacific is also expected to progress at a healthy pace on account of rising per capita consumption of paper and rising investment on research and development activities.
The major players in global nanocellulose market include Rettenmaier & Sohne, Oji Paper, BASF AG, Celluforce, CelluComp, Asahi Kasei, Innventia , American Process, FPInnovations, Stora Enso, Kruger, Diacel FineChem, Borregaard, Nippon Paper, UPM-Kymmene Oyj and others.
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