The new report by Expert Market Research titled, ‘Global Nanocellulose Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the global nanocellulose market, assessing the market based on its segments like product, application and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2023-2028)
- Historical Market Size (2020): USD 295 million
- Forecast CAGR (2023-2028): 21 %
- Forecast Market Size (2026): USD 932 million
Nanocellulose is a renewable and cost-effective material that can meet the increasing demand in the lightweight packaging industry for biodegradable packaging. Its high strength and stretchability are increasing its popularity in the packaging industry. The food and beverage sector is rapidly expanding, which is fueling the development of the nanocellulose industry. Increasing global understanding of biodegradability, as well as more stringent government regulations for sustainable development, are expected to accelerate the growth of the nanocellulose industry in the near future. Since nanocellulose-based paper has improved properties such as better printing quality, lower transparency, and decreased porosity, the paper and pulp industry is seeing an increase in demand for nanocellulose. During the outbreak of the COVID-19 pandemic, nanocellulose has seen increased demand from the biomedical and pharmaceutical industries, bolstering market growth.
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Industry Definition and Major Segments
Nanocellulose is a light solid material made from plant matter that is made up of nanosized cellulose fibrils. Nanocellulose is cellulose that has been nanostructured. The nano-structured cellulose is referred to as nanocellulose. In nature, nanocellulose is a pseudoplastic with the properties of various types of thick gels or fluids.
Based on product, the market is bifurcated into:
- Nanocrystalline Cellulose (NCC)
- Nanofibrillated Cellulose (NFC)
- Bacterial Cellulose (BC)
Based on application, the market is categorised into:
- Composites and Packaging
- Pulp and Paper
- Food and Beverages
- Paints and Coatings
- Biomedical and Pharmaceuticals
- Oil and Gas
The regional markets for nanocellulose include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The rising demand for nanocellulose from the pulp and paper industry is boosting the European nanocellulose industry. Furthermore, key players’ growing investments in research and development in European regions are increasing demand for nanocellulose in the area.
North America is also a significant regional market for cellulose. The increasing commercial construction sector and renovation projects in North America are due to the regional market’s growth. The rapidly expanding paints and coatings industry, food and beverage industry, and cosmetics sector are also expected to drive the growth of the North American nanocellulose industry.
Key Market Players
The major players in the market are CelluForce Inc, Nippon Paper Industries Co. Ltd, Kruger Inc, Sappi Europe SA, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, mergers and acquisitions, among other latest developments of these market players.
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