Nanocellulose Market Size, Share and Forecasts by 2023
The global nanocellulose market features an intensely competitive vendor landscape. This is
on account of the potential demand for nanocellulose for a vast range of applications in
various end-use industries. A growing number of manufacturers world over are capitalizing
on demand coming from numerous industries, particularly in the oil and gas industries. Other
industries from which profuse opportunities are emanating are paints and coatings, paper
processing, personal care products, and food and beverages. Top players operating in the
market are CelluForce Inc., UPM-Kymmene Oyj, Nippon Paper Industries Co., Ltd.,
American Process Inc., and Daicel FineChem Ltd., finds Transparency Market Research.
The global nanocellulose market was valued at US$54.19 million in 2014 and is forecast to
reach a worth of US$699.6 million by the end of 2023. To reach this valuations, the global
market is projected to expand at an exceptionally impressive CAGR of 33.8% from 2015 to
The broad product categories of nanocellulose are nanofibrillated cellulose, nanocrystalline
cellulose, and bacterial nanocellulose. Of these, nanofibrillated cellulose leads the pack as it
held over half of the overall market shares in 2014. The proliferating demand for this in end-
use industries accounts for its prominence throughout the assessment timeline.
On the regional front, Europe and North America emerged to the fore and contributed a
combined share of over 60% in 2014. These regional markets are likely to retain their lead in
the coming years as well. This is attributed to the extensive uptake of nanocellulose in the
industries such as personal care, food and beverages, and paper processing.
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Burgeoning Usage of Material Science and Medical Applications stems from its
The nanocellulose market is driven by a panoply of applications in larg