According to IMARC Group's latest research report, titled "Nanocellulose Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," presents a comprehensive analysis of the industry, covering nanocellulose market, opportunity, overview, statistics size, share, trends, demand, and growth prospects. The nanocellulose market report also provides competitor and regional analysis and showcases the contemporary advancements in the global market.
The global nanocellulose market size reached US$ 480.5 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,476.9 Million by 2028, exhibiting a growth rate (CAGR) of 19.60% during 2023-2028.
Nanocellulose represents a type of nanostructured cellulose material that has unique chemical and physical properties, which makes it suitable for various industrial applications. The substance is created from refining cellulose fibers and results in nanoscale materials with remarkable thermal and mechanical stability and a high strength-to-weight ratio. Nanocellulose can be derived from natural sources, such as plants, bacteria, wood, or algae. The separation procedure involves acid hydrolysis to produce hard nanoparticles or high-pressure homogenizers to isolate nanosized fibrils. It is characterized by several properties, including biocompatibility, high tensile strength, stiffness, and viscosity. In addition to this, nanocellulose is biodegradable, produced from renewable resources, and has a lower environmental impact than traditional materials. As a result, this substance finds widespread applications across various sectors, such as pharmaceutical, electronics, food and beverage (F&B), pulp and paperboard, etc.
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The shifting preference toward bio-based goods and the escalating demand for sustainable and environmentally friendly materials are primarily driving the nanocellulose market. Besides this, the extensive product utilization in sheets for windows and electrical displays is further augmenting the market growth. Moreover, the elevating requirement for nanocellulose as a suitable ingredient in manufacturing wound dressings and sanitary napkins, owing to its non-toxicity and high adsorption capacity, is also catalyzing the global market. Apart from this, the launch of several policies by the government bodies to ban non-biodegradable packaging, particularly for food and beverages, is propelling the need for durable and lightweight materials, which is acting as another significant growth-inducing factor. Furthermore, the growing popularity of cellulose-based sensors to monitor bridges and other structures to measure their degrees of stress, the emerging trend of industrialization, and the rising product usage in construction activities are anticipated to propel the nanocellulose market over the forecasted period.
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