Nanocellulose Market Size, Share, Demand & Trends by 2033
The nanocellulose
industry is predicted to grow at a CAGR of 18.5% over the forecast
period, according to research by Future Market Insights. The industry’s
estimated value is expected to increase from US$ 492.96 Mn in
2023 to US$ 2,691.50 Mn by 2033.
The nanocellulose
market is being propelled by the growing deployment of eco-friendly
materials in lieu of single-use plastics and conventional cellulose materials,
propelled by climate change and growing public concerns pertaining to the
planet’s health.
Additionally, the market is being significantly
influenced by the nanocellulose’s biodegradable nature and sustainable
manufacturing process, which holds the potential to transform everyday life
into a greener way of life.
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The latest research in the field of nanocellulose
demonstrates that the material has immense potential to not only replace
plastics but also to render Styrofoam insulation obsolete and make electric
automobiles feasible.
The emerging concept of ‘active packaging’, which
involves the integration of nanoparticles into polymers has been garnering
significant attention lately. With the use of the ‘active packaging’ technique,
the properties of packaging products can be upgraded, while solving the problem
of recycling.
The food industry has been the initial application
sector to utilize these new composite, bio-compatible packaging materials as
the material promises excellent resistance to microbial contamination. The food
industry is not just the early adopter of nanocellulose, but also a sizeable
contributor to nanocellulose market, thus utilizing nanocellulose extensively.
Key Takeaways from the Nanocellulose
Market
- Europe
is projected to witness stellar growth performance over the projected
term, thus the region is estimated to hold a dominant market position.
Europe has been leading intensive research activities to explore the vast
potential of nanocellulose materials in multitudinous fields to enlarge
the scope of nanocellulose over the coming years.
- The
market in the United States is estimated to come second to Europe. Ample
utilization of nanocellulose in the building and construction sector,
along with huge government funds allocated to upgrade public
infrastructure is expected to galvanize market growth.
- Various
growth avenues in emerging economies like India, fueled by active
researchers in the country focused on developing futuristic products and
established companies preoccupied with revolutionizing the food packaging
industry, are anticipated to stoke upmarket development.
- Japan,
one of the most significant markets in the APAC region, is witnessing
appreciable commercialization of nanocellulose. Numerous nanocellulose-based
products have been developed in recent years. Many more are yet to be
developed and supplement market growth over the coming years.
- Growing
concerns regarding sustainability are spurring the market in South Korea.
Leading companies present in the country are actively developing and
releasing eco-friendly products constituting nanocellulose.
- Pulp
and paper board industry has been a major contributor to the growth of
nanocellulose market. The growing application of nanocellulose to form
lightweight and white paper is pushing the market upwards.
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Key Players to Leverage on Growing
Eco-Consciousness Worldwide
Key players in the market are focusing on partnering,
releasing new products to extend product portfolio, acquisitions, and mergers,
etc. to invigorate their stand in the market. To keep themselves relevant,
several companies in the market are adopting sustainable, bio-compatible, and
renewable materials like nanocellulose; thus, providing major industry players
ample opportunities to leverage this emerging trend and catapult their market
revenues over the forecast time frame.
The following companies provide nanocellulose in the
market, as identified by FMI:
- Anomera
- CelluForce
- Melodea
Ltd
- Sweetwater
Energy
- GranBio
- Axcelon
Biopolymers Corporation:
- Stora
Enso
- Others
Nanocellulose Industry Segmentation by
Category
By
Product:
- Micro
fibrillated Cellulose and Nano fibrillated Cellulose
- Cellulose
Nanocrystals / Cellulose Nanofibers
- Bacterial
Cellulose
- Others
By
Application:
- Pulp
and Paper
- Composites
Manufacturing
- Paints
and Coatings
- Electronics
Sensors
- Food
and Beverage
- Biomedical
and Pharmaceuticals
- Composites
- Others
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