Global Nanocellulose market will reach 708.94 million US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/9/12

The global nanocellulose market is expected to grow due to its increasing demand in various industries like food, pharmaceuticals, cosmetics, and automotive. The nanocellulose is a plant derived pseudo-plastic material with superior properties like high water binding capability, thermal stability, lightweight, and dimensional stability. These properties makes it an excellent material for applications such as oil and gas, paper and board, composites and packaging, paints and coatings, and personal care products. The nanocellulose is a plant-based material which is expected to play a major role in making it biodegradable materials for easy and safe disposal.

The consistently high demand for crude oil and gas is expected to drive the global nanocellulose market. Other factors like rapid urbanisation, improvement in living standards, expanding cosmetics market, and automotive production and sales are also expected to further fuel the demand of the nanocellulose. The demand for biodegradable material is also expected to contribute towards market growth.

The global nanocellulose market was valued at US$342.01 mn in 2018 and is expected to reach US$708.94 mn by the end of 2025, rising at a CAGR of 15.26% during 2020-2025.

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