The global nanocellulose market size is anticipated to showcase potential growth owing to the increasing concerns regarding the sustainability from the packaging industry, observes Fortune Business Insights™ Nanocellulose has applications in various industries including cement and composites, textile, and paper and packaging. The global nanocellulose market size was USD 291.53 million in 2019 and is projected to reach USD 1,053.09 million by 2027, exhibiting an exhilarating CAGR of 19.9% during the forecast period.
The nanocellulose market is experiencing significant growth driven by rising demand across various industries such as paper and pulp, food and beverages, pharmaceuticals, and personal care. Nanocellulose, a biodegradable and renewable material, offers excellent mechanical properties and is increasingly being recognized for its sustainability and environmental benefits.
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Drivers & Restraints:
What factors are driving the growth of the nanocellulose market?
The increasing adoption of nanocellulose in the packaging industry is a key driver. Rising concerns over environmental sustainability, especially the high contribution of non-degradable plastics to municipal solid waste (28.1% in the U.S.), are pushing manufacturers to explore eco-friendly alternatives like nanocellulose. Additionally, expanding applications in the textile industry are further boosting demand.
What challenges is the nanocellulose market facing?
High production costs remain a significant restraint, limiting widespread adoption despite its advantages in sustainability and performance.
Market Segmentations:
How is the nanocellulose market segmented by type?
- Nanocrystalline Cellulose (NCC): Leading the market due to its reinforcing properties and potential in composites and nanomaterials.
- Nanofibrillated Cellulose (NFC): Popular in paper, packaging, and coating industries for its mechanical strength and barrier properties.
- Bacterial Nanocellulose (BNC): Niche segment growing in biomedical applications such as wound dressings, tissue engineering, and drug delivery.
What are the key applications of nanocellulose?
- Paper & Pulp: Improves paper strength, reduces material usage, and enhances recyclability.
- Composites: Used in automotive, aerospace, and construction for lightweight, high-strength materials.
- Food & Beverages: Acts as a stabilizer and emulsifier, also used for biodegradable packaging.
- Pharmaceuticals & Cosmetics: Biocompatible material for drug delivery and cosmetic formulations.
- Others: Includes electronics, textiles, paints, and coatings.
Regional Insights:
Which region leads the nanocellulose market?
Europe led the market in 2019 with a value of USD 108.77 million, driven by abundant wood supply in Eastern Europe and strong manufacturing sectors like automobiles, textiles, and cosmetics.
Which regions are expected to see significant growth?
Asia-Pacific, valued at USD 43.16 million in 2019, is projected to grow rapidly due to the presence of key industries in countries such as China, South Korea, and India, including food, cement, textiles, and paper.
Competitive Landscape:
- In April 2020, Celluforce announced that Celluforce NCC, a gelling agent produced by the company, is suitable for the manufacturing of hydro-alcoholic gels, thereby replacing the traditionally used acrylates and carbomers. This makes the agent suitable in making gel-based sanitizers while providing an invisible layer of cellulose on hands for protecting damaged skin.
Key Players:
Key players operating in the nanocellulose market includes Fiberlean Technologies (UK), Kruger, Inc. (Canada), Borregard (Norway), Nippon Paper Group (Japan) , Celluforce (Canada), Stora Enso (Finland), Norske Skog ASA (Norway), The University of Maine (U.S.), Research Institutes of Sweden (RISE) (Sweden), GranBio (Brazil), CelluComp (UK), Other Key Players.
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