PUBLISHER: Market Research Future | PRODUCT CODE: 1727718
PUBLISHER: Market Research Future | PRODUCT CODE: 1727718
Global Nanocellulose Market Research Report Information By Product Type (Nanofibrillar Cellulose (NFC), Nanocrystalline Cellulose (NCC) and Bacterial Cellulose (BCC)), Application (Composites & Packaging, Paper & Board and Paints & Coatings, Oil & Gas, Personal Care and Others), and By Region (North America, Europe, Asia-Pacific, And Rest of the World) Market Forecast Till 2030
The nanocellulose market is expected to increase significantly during the review period, with a CAGR of 21.6%. The market was anticipated to be worth USD 300.75 million in 2022, rising to USD 1429.22 million by the end of the forecast period (2023-2030).
The increased demand for nanocellulose can be ascribed to the growing requirement for a variety of applications, as well as a noticeable movement toward the use of bio-based goods. This demand is driven by a variety of factors, including nanocellulose's unique properties, such as increased efficiency in paper machine processes, increased filler content, reduced base mass weight, and increased freeness. These properties make nanocellulose suitable for the manufacturing of a wide range of products.
Within the paper industry, nanocellulose is a major sustainable nanomaterial addition. Its appeal is based on its extraordinary strength, strong oxygen barrier performance, low density, mechanical qualities, and biocompatibility, which set it apart from other accessible bio-based materials. This has established nanocellulose as a vital and desirable component for improving the sustainability and performance of many paper products.
Furthermore, nanocellulose has wide-ranging applications, including building materials and aqueous coatings. Its inclusion into composite materials serves a critical role in improving characteristics and functions, hence helping to the development of innovative and sustainable materials outside the paper industry. Nanocellulose's adaptability in numerous applications highlights its growing importance as a vital contributor to the changing landscape of sustainable and high-performance materials.
The global nanocellulose market is divided into three product types: nanofibrillar cellulose (NFC), nanocrystalline cellulose (NCC), and bacterial cellulose (BCC).
The global Nanocellulose market is segmented by application into Composites & Packaging, Paper & Board, Paints & Coatings, Oil & Gas, Personal Care, and Other.
In 2022, Europe emerged as the main force in the nanocellulose market, with a revenue share greater than 35%. This dominant position is primarily due to the rising demand for pulp and paper in the region. Furthermore, strict rules against single-use plastic packaging have fueled a growing desire for nanocellulose-based packaging materials, which has contributed significantly to the market domination of Europe.
North America is poised to become the second-largest user of nanocellulose, thanks to a variety of factors. This predicted rise is driven by the region's high consumption potential, expanding production facilities, a strong economic development rate, and rising demand for lightweight passenger automobiles. Furthermore, the growing preference for ecologically friendly solutions in the food and beverage packaging industry fuels the momentum, cementing North America's position as a major consumer of nanocellulose products. These regional dynamics highlight the global significance of nanocellulose as a vital material reacting to changing market demands and regulatory adjustments, with Europe and North America leading the industry's growth and development.
Fiber Lean, Nippon Paper Industries, CelluForce, GranBio, Kruger INC, Sappi, UPM, Stora Enso, CelluComp Ltd, Borregaard, and others are among the leading industry participants.