The global nanocellulose market is estimated to grow at a CAGR of ~22% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the growing demand for cellulose for various applications, combined with the growing requirement of bio-based products. Nanocellulose means nano-structured cellulose, which are obtained through any cellulose source, through complex methods, such as, high velocity impact homogenization, micro fluidization, high-pressure, and high temperature. The growing environmental awareness amongst the people and the government initiatives to promote eco-friendly production, is estimated to boost the market growth. Nanocellulose is a biodegradable and environment friendly alternative to synthetic polymers, which is estimated to further boost its demand amongst the healthcare sector. Growth in the pulp & paper industry is also estimated to boost the market growth. According to the data by the International Energy Agency (IEA), the paper production is expected to increase by 1.2% annually. Moreover, advancement in nanotechnology and its escalating adoption are projected to boost the market growth.
The market is segmented by type into nano fibrillated cellulose (NFC), nanocrystalline cellulose (NCC), bacterial cellulose, micro fibrillated cellulose (MFC), and others, out of which, the nano fibrillated cellulose (NFC) segment is anticipated to hold the largest share in the global nanocellulose market over the forecast period on account of the ability of NFC to form a strong porous and entangled network of fibers. The easy availability, large surface area, and higher tensile strength are the major factors estimated to boost the market growth.
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favourable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labour as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
On the basis of geographical analysis, the global nanocellulose market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of growing paper & pulp industry. The growth in the end-user industries is bound to boost the growth in the nanocellulose market in the region. Moreover, the presence of major key players in developing countries, is projected to boost the market growth.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the growing adoption of advanced technology, accompanied with high investment in research and development activities in the region.
The global nanocellulose market is further classified on the basis of region as follows:
Our in-depth analysis of the global nanocellulose market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The growing environmental awareness and biodegradable nature of nanocellulose to boost the market growth.
The market is anticipated to attain a robust CAGR of ~22% over the forecast period, i.e., 2022 – 2030.
Lack of awareness and high competition from alternatives are estimated to hamper the market growth.
The market in the Asia Pacific is estimated to provide most growth opportunities over the forecast period, owing to the growing pulp and paper industry.
The major players in the market are Södra Skogsägarna, Fiberlean technologies, Kruger Inc., Borregaard, Celluforce Inc., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, end-use, and by region.
The pulp & paper segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
Select License Type
Direct access to analyst to help you understand the market in a better way to handle your critical question
Citing your business specific requirement our consultant would assist you ensuring targeted goal is achieved
Get 10% free customization