Nanocellulose Market is Expected to Reach USD 483.58 MN by 2023: UPM, Celluforce Inc, FPInnovations, Daicel FineChem Ltd, Melodea Ltd, American Process Inc, Kruger Inc, Innventia and Borregaard

Industry Outlook and Trend Analysis
The Nanocellulose Market was worth USD 100.67 million in 2014 and is expected to reach approximately USD 483.58 million by 2023, while registering itself at a compound annual growth rate (CAGR) of 19.05% during the forecast period. Nanocellulose is a material composed of nano-sized cellulose fibrils with a high length to width proportion. The regular measurements go from 5-20 nm to severe micrometers. It is pseudo-plastic in nature and exhibits properties of the gel and viscous fluid at typical conditions, however when agitated, turns out to be less viscous and can flow well. This property is known as thixotropy. Attributable to this property, nanocellulose is used in the wide number of application.

Type Outlook and Trend Analysis
Based on type the market is segmented into Cellulose nanofibrils, Cellulose nanocomposites, Cellulose nanocrystals and others. Increasing usage scope of cellulosic materials in paper & pulp production combined with increasing environmental issues is anticipated to drive the global nanocellulose market over the forecast period. Volatile petrochemical costs are foreseen to boost nanocellulose market growth over the following years.

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Application Outlook and Trend Analysis
The application of nano cellulose in the several industries is observing a significant change majorly due to the commercial growth of nano cellulose driven by the rising petroleum costs and the high-energy intensity in the manufacturing of chemicals and synthetic polymers. Nano cellulose is being developed for the novel use in applications ranging from scaffolds in tissue manufacturing, artificial skin and cartilage, wound healing, vessel substitutes to biodegradable food packaging. The nano cellulose is thought to be as a suitable option to the costly high tech materials such as carbon nanotubes and carbon fibres.

Regional Outlook and Trend Analysis
North America is the biggest market for nano cellulose presently and the same is anticipated to continue over the forecast period. This is attributable to constant advancements in technology, advancements in healthcare industry, and rising concentration on biodegradable food packaging. Europe market is anticipated to account for the second highest growth rate after North America. The Asia-Pacific market is foreseen to exhibit a steady development rate but the market is currently lower than North America and Europe.

Competitive Insights
The leading players in the market are UPM, Celluforce Inc, FPInnovations, Daicel FineChem Ltd, Melodea Ltd, American Process Inc, Kruger Inc, Innventia and Borregaard. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.

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The Nanocellulose Market is segmented as follows-
By Type:
Cellulose nanofibrils
Cellulose nanocomposites
Cellulose nanocrystals
Others

By Application:
Paper and Paper board
Biomedicine
Composites and Packaging
Flexible Electronics and Sensors
Rheology Modifier
Others

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Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?

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This release was published on openPR.