The global market for nanocellulose is expected to reach $277.7 million by 2019
Wellesley, Mass. (PRWEB) June 26, 2015
Nanocellulose (NC) is quickly becoming commercially available worldwide, and the production capacity is increasing exponentially. BCC Research reveals in its new report that because of its outstanding properties, rapidly decreasing manufacturing costs, and a positive toxicological profile, NC is currently being used in nearly unlimited applications and sectors.
The world market for nanocellulose totaled $46.8 million in 2014 and is projected to approach $277.7 million in 2019, reflecting a five-year compound annual growth rate (CAGR) of 42.8%. Cellulose nanofibrils as a segment totaled $28.2 million in 2014 and should total $158.3 million in 2019, with a CAGR of 41.2%. Cellulose nanocrystals as a segment reached $18.0 million in 2014 and should reach $116.6 million in 2019, with a CAGR of 45.3%.
NC is a material derived from cellulose that displays extraordinary chemical and mechanical properties, such as high stiffness, comparable to that of Kevlar, and tensile strength. Due to its exotic properties, NC is currently being tested on a variety of applications across several industries: automotive and aerospace, packaging, electronics, pharmaceutical and medical devices, and many more. Product development is at its early stages, with the first commercial products quickly approaching the market.
However, the industry faces many challenges, including the improvement of international standards to ensure quality and facilitate trade. Remarkably, NC production may lead to the adoption of environmentally friendly manufacturing processes in response to new international clean air mandates.
Some of the most promising applications of NC include automotive parts, films for packaging, paper products, biomedical, paints and polymers coating.
“Currently, almost all NC is used in research for new product development. There are a few products on the market in the biomedical field that generate modest sales,“ says BCC research analyst Alessandro Varotto. “However, new NC-based products are forecast to land on the market within the next five years, including paper products, packaging materials and paint. Automotive parts will also follow, and play a pivotal role in the market.”
Cellulose Nanoparticles: Processing, Applications and Global Markets (AVM120A) This report provides a detailed segmentation by region, type of nanocellulose (nanocrystal, nanofibril and bacterial), applications and processing techniques. Profiles of key market companies are also included.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven(dot)cumming(at)bccresearch(dot)com.
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