Nanocellulose Market by Type , Application , and Geography - Regional Trends & Forecast to 2019
NEW YORK, June 17, 2015 /PRNewswire/ -- The nano cellulose market is estimated around $ 250 million in 2014, with the high share held by North America and Europe together. The global nano cellulose market by value is projected to grow at a CAGR of approximately 19% from 2014 to 2019. The high growth is forecasted to be in the North America and Europe due to rising advancements in the end industries such as paper and paper board, composites & packaging, biomedicine in the region. Europe is estimated to have the second highest growth from 2014 to 2019.
With the emergence and development of nanotechnology, cellulose, the demand for nano cellulose as a novel and advanced material is projected to increase gradually. Biomedicine and electronic industry have the largest application of nano cellulose. Composites & packaging, rheology modifier, flexible electronics and sensors are the other significant applications. Cellulose nanocrystalls (CNC), cellulose nanofibrils (CNF), and cellulose nanocomposites are the major types of nano cellullose.
Nano cellulose is described as the process where the product is extracted from native cellulose found in plants, animals, and bacteria which is composed of the nanoscale structure material. The CNC and CNF are extracted from wood fibers, flax, hemp, sugar beet, wheat straw, potato timber, algae, and tunicin. The reason for the rising popularity of nano cellulose is its characteristics being different from traditional materials, such as barrier properties, crystallinity, high specific surface area, rheological properties, surface chemical reactivity, alignment and orientation, biocompatibility, biodegradability, lack of toxicity, and more. On the basis of these unique characteristics, the nano cellulose enabled products have been envisioned ranging from bulk applications like composite reinforcement or paper additive, to high end applications such as tissue engineering, drug delivery, and functional material.
The nano cellulose market is anticipated to show a high growth rate in the coming years. The market is innovation driven and investments are expected for new nano cellulose properties and completely new nano-enabled products. There are large numbers of various sized players in the market but it is dominated by few big companies.
Currently, the nano cellulose market is mainly concentrated in the North American and European region while RoW region, especially Latin America is expected to show high growth rate in future years. Advancement in nano-enhanced products along with increasing penetration of nano cellulose in different applications is driving the growth of the global nano cellulose market.
Innventia AB (Sweden), Novozymes (Denmark), Ineos Bio (Switzerland) is the important active players in the nano cellulose market. These companies showed the highest strategy adoptions amongst other players in the nano cellulose market from 2010 to 2014.
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