Vantage Market Research
Jan 27, 2023
In terms of revenue, the Global Nanocellulose Market is expected to reach USD 1063.8 Million by 2028, growing at a CAGR (Compound Annual Growth Rate) of 22.2% from 2022 to 2028.
Nanocellulose, a renewable and affordable material, can meet the increased demand for biodegradable packaging in the lightweight packaging business. The packaging industry is increasingly requesting it due to its strength and stretchability. In addition, the food and beverage sector has been expanding quickly, which has helped the Nanocellulose sector grow even faster. In the near future, it is anticipated that the Nanocellulose sector will grow more rapidly due to rising government laws for sustainable development and public awareness of biodegradability. Furthermore, a rise in demand for Nanocellulose from the paper and pulp industry is being caused by more vital attributes of the paper made with Nanocellulose, such as improved printing quality, decreased transparency, and reduced porosity as cheaper manufacturing costs. In addition, the demand for Nanocellulose has increased since the COVID-19 pandemic outbreak because of its use in biomedical and pharmaceutical products, fueling the market's expansion.
Key Highlights from Report
- Based on Type, the MFC and NFC segments take over the Nanocellulose market with the most market share and will continue their dominance in the forecast period. This is because of their ability to form a tightly entangled, impenetrable network and their nanoscale size.
- Among Raw Materials, the wood Nanocellulose segment accounted for the maximum CAGR in the forecast period owing to the growing demand for environmentally friendly and low-impact nanocomposite materials comprised of wood fibers.
- In terms of region, North America holds the significant market share within the Nanocellulose market. The expansion of the regional market is linked to North America's expanding commercial building industry and rehabilitation initiatives.
The elements driving demand for the product include the increase in cellulose demand for various applications and the changing trend for using bio-based products. Nanocellulose is excellent for producing a wide variety of products because of its different properties, including greater paper machine efficiency, better filler content, lighter base mass, and higher freeness. In addition, due to its high strength, excellent oxygen barrier performance, low density, mechanical characteristics, and biocompatibility among the available bio-based resources, Nanocellulose is a significant sustainable nanomaterial additive in the paper industry. The main applications of Nanocellulose composite materials include manufacturing materials, aqueous coating, and others.
Additionally, the ongoing expansion of the global food and beverage industry has increased the demand for efficient packaging solutions. As a result, many foods and beverage packaging materials use Nanocellulose because of its eco-friendly qualities. The substance has anti-microbial qualities and is biodegradable, non-toxic, easily disposed of, flexible, and translucent. Because of this, packaging made of Nanocellulose is highly recommended for the food and beverage industry.
The Nanocellulose market is primarily driven by a growing number of capital investors, an appropriate supply chain, and the increasing demands for commercial products that create the need for technological advancements in the industry. Additionally, the market participants would benefit significantly from the rising technological breakthroughs and the growing modernization in production employing new techniques.
Geographically, North America market is anticipated to witness major market growth with the highest growth rate during the forecast period. The enormous magnitude predicted is mainly attributed to technological advancements in this area. The North American commercial building renovation and increased infrastructure projects will propel regional Nanocellulose market expansion for composite applications. This is primarily due to significant government investment in improving public infrastructure. By 2027, the region's expanding sectors in food and beverage, oil and gas, paints and coatings, etc., will further support the growth of the Nanocellulose industry. According to information from The International Energy Agency (IEA), for instance, by 2024, the United States will export more oil than Russia. It will soon be responsible for 85% of the increase in global oil output.
The Global Nanocellulose Market is Segmented as follows
- MFC & NFC
- Others (BNC, TC, ANC, and CNY)
- raw material
- Pulp& Paper
- Biomedical & Pharmaceuticals
- Electronics Sensors
- Others (cosmetics, oil & gas, and food & beverage)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Nanocellulose Market is
Cellu Force (Canada), Fiber Lean (Germany), Nippon Paper Industries Co. Ltd. (Japan), Kruger Inc. (Canada), Borregaard AS (Norway), CelluComp (UK), Melodea Ltd. (Israel), Blue Goose Refineries (Canada), GranBio Technologies (Brazil), Stora Enso Biomaterials (Finland)
The Global Nanocellulose Market Scope can be Tabulated as below:
|Market Size Provided for Years||2016-2028|
|Regions & Counties Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|