Nanocellulose Market Regional Analysis:
APAC Market Insights
The Asia Pacific nanocellulose market is projected to hold the largest market share by the end of 2035. The growth of the market can be attributed majorly to the exponentially surging production of vehicles as well as the rising demand for nanocellulose in the automotive industry besides other end-user industries, owing to the increasing demand for lightweight vehicles with higher tensile strength and better fuel economy. As per research, it was found that using nano cellulose for parts of cars, like bumpers, side panels, and dashboards makes them 3-4 times stronger and around 30% lighter. Moreover, it was observed that the production of cars and commercial vehicles in China reached nearly 21.41 million and 4.67 million in 2021 respectively, depicting the prospering automotive industry.
North American Market Insights
The North American nanocellulose market is projected to hold the second largest share during the forecast period. The growth of the market can be attributed majorly to the augmenting biomedical sector along with the increasing adoption of advanced technology, owing to increasing spending on healthcare with increasing chronic diseases. It was found that U.S. healthcare spending increased by 2.7% in 2021, reaching approximately USD 4.3 trillion. Therefore, the growing adoption of biomaterial in cartilage replacements, cardiovascular applications, and many medical implants owing to its unique nanostructure is expected to propel the market growth.
Europe Market Insights
Europe region is expected to observe significant growth till 2035. The growth of the market can be attributed majorly to the raised standard of living of people in the region together with the increasing demand for green and sustainable food packaging material by the growing food & beverages industry in the region
