Million-Dollar Nanocellulose Market to to witness Market growth at a CAGR of 14.37 % through 2023-2027
According to nanocellulose market analysis and projections, the nanocellulose market would grow at a 14.37% compound annual growth rate (CAGR) and add USD 276.36 million between 2022 and 2027. Technavio has been monitoring the Nanocellulose Market's growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking.
Facts and Figures of Nanocellulose Market Analysis
Growing demand for nanocellulose in packaging applications to propel the market advancement of the Nanocellulose Market
The majority of packaging materials used today are composed of glass, aluminium, tin, and synthetic polymers derived from petroleum and these materials give rise to environmental and economic concerns.
Sustainable and lightweight packaging is one of the benefits of using cellulosic materials instead of paper-based ones.It is therefore anticipated that during the projected period, these factors will fuel the expansion of the worldwide nanocellulose market.
American Process International LLC, Asahi Kasei Corp., Axcelon Biopolymers Corp., Blue Goose Biorefineries Inc., Borregaard ASA, CelluComp Ltd., CelluForce Inc., Daio Paper Corp., FiberLean Technologies Ltd., GranBio Investimentos SA, GS Alliance Co. Ltd., Kruger Inc., Nature Costech Co. Ltd., Nippon Paper Industries Co. Ltd., Oji Holdings Corp., RISE Research Institutes of Sweden, Sappi Ltd., Stora Enso Oyj, UPM Kymmene Corp., and Weidmann Holding AG are some of the major market participants constantly striving with new products and offerings in this domain.