Nanocellulose Market Analysis by Type {Nano fibrillated Cellulose (NFC), Nanocrystalline Cellulose (NCC), Bacterial Cellulose, Micro fibrillated Cellulose (MFC), and Others}; and by End-Use (Pulp & Paper, Composites, Biomedical, Automobile, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2035
Buy Now Report ID: 3576 | Published Date: Apr 01, 2023
The global nanocellulose market is estimated to garner a revenue of USD 1500 Million by the end of 2035 by growing at a CAGR of ~22% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of USD 350 Million in the year 2022. The rising awareness about environmental degradation, as well as the increasing innovations of bio-based products along with the growing applications of renewable resources in daily life owing to their eco-friendly nature, is anticipated to propel the market growth in the forecast period. As per a global survey in 2021, out of the chosen number of participants for their opinion on the packaging, ~35% of respondents said they chose sustainable products to help protect the environment, while ~37% said they looked for products with environmentally friendly packaging.
Nanocellulose types include two broad categories viz., nanostructured materials (cellulose microfibrils) and nanofibers (cellulose nanofibrils, and bacterial cellulose). The difference between nanocellulose and cellulose is that the former are natural materials with at least one dimension in the nano-scale and combine important cellulose properties with the features of nanomaterials. This opens new horizons for these materials’ science and their applications. The application of nanocellulose is vast and expanding as it can be used in various fields such as biomedical products, nanocomposite materials, textiles, and so on as the application of green, renewable, and sustainable materials has gained momentum for producing various high-value products with low environmental impact.
Cellulose, being the most abundant biomass material is the source of extraction for nanocellulose, whose applications are gaining high attraction in both research and industrial areas owing to their attractive properties with 100% environmental friendliness as well as the higher potential to evoke important advantages, such as elevated use of natural resources, enhanced health, and reduced environmental pollution leading to a green revolution. Hence, with the rising advancement & investment in nanotechnology worldwide the global nanocellulose market is anticipated to the uptrend in the forecast period. According to the report, the United States requested more than USD 1.7 billion from the President's 2021 Budget for the National Nanotechnology Initiative (NNI).
|
Base Year |
2022 |
|
Forecast Year |
2023-2035 |
|
CAGR |
~22% |
|
Base Year Market Size (2022) |
~ USD 350 Million |
|
Forecast Year Market Size (2035) |
~ USD 1500 Million |
|
Regional Scope |
|
Growth Drivers
Challenges
The global nanocellulose market is segmented and analyzed for demand and supply by type into nano-fibrillated cellulose (NFC), nanocrystalline cellulose (NCC), bacterial cellulose, micro fibrillated Cellulose (MFC). Out of these segments, the nano-fibrillated cellulose segment is estimated to gain the largest market share in the year 2035. The growth of the segment can be attributed to the radically expanding production of cement globally as well as the growing utilization of nano-fibrillated cellulose in the cement industry, owing to their easy availability, higher tensile strength, large surface area, and potential to enhance the durability of cement composites. China the largest producer of the most cement in the world produced around 2.1 billion metric tons in 2022. Moreover, the heightening demand for NFC from numerous end-use industries including food and beverage, oil & gas, aerospace, automotive, and personal care industries which are expanding exponentially.
The global nanocellulose market is also segmented and analyzed for demand and supply by end-use into pulp & paper, composites, biomedical, automobile, and others. Amongst these three segments, the pulp & paper segment is expected to garner a significant share in the year 2035. The factors applicable to the growth of the segment in the forecast period include the growing demand for paper globally owing to its increasing demand for end-products such as books, diapers, paper towels, napkins, newspapers, magazines, maps, toilet tissue and from many end-use industries such as the packaging industry, just to name a few. The data from the International Energy Agency (IEA) revealed that paper production worldwide is forecasted to grow by 1.2% annually.
Moreover, the biomedical segment is estimated to garner the highest share in the forecast period owing to the radically surging investment in the development of materials, therapies, devices, technology, systems, methods, and processes to facilitate the understanding of human disease, or its, monitoring, prevention, diagnosis, and treatment.
Our in-depth analysis of the global nanocellulose market includes the following segments:
|
By Type |
|
|
By End-Use |
|
The Asia Pacific nanocellulose market, amongst the market in all the other regions, 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 in the region.
The North American nanocellulose market, amongst the market in all the other regions, 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 in the region, 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 in the region.
Further, the market in Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 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
Oji Holdings Corporation a Japanese manufacturer of paper products developed cosmetic quality commercial nano cellulose fiber ‘AUROVISCO CS’ together with Nikko Chemicals Co., Ltd. a global supplier of ingredients for cosmetics, pharmaceuticals, food, and industrial applications.
Stora Enso Group the renewable materials company acquired the specialist in applications-based cellulose company, Cellutech AB, to expand the company’s portfolio worldwide.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Smruti Ranjan, Rajrani Baghel
Ans: The growing environmental concern as well as rising demand for an alternative solution to the ever-depleting non-renewable sources, along with the growing popularity of bio-based, biodegradable, and sustainable products are some major factors driving the growth of the nanocellulose market
Ans: The market is anticipated to attain a CAGR of ~22% over the forecast period, i.e., 2023 – 2035.
Ans: Complex production processes as well as the availability of cheaper alternatives estimated to be the growth hindering factors for the market expansion.
Ans: The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Ans: The major players in the market are Stora Enso Biomaterials, Nippon Paper Industries Co. Ltd., Oji Holdings Corporation, Södra Skogsägarna, Fiberlean technologies, Kruger Inc., and others.
Ans: 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.
Ans: The market is segmented by type, end-use, and by region.
Ans: The nano fibrillated cellulose segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Submit Your Request For Proposal (RFP)
