Nanocellulose Market Report Growth Analysis | 2023-2028

Market Insights

The Nanocellulose Market is expected to grow from US$ 0.38 Billion in 2022 to US$ 1.24 Billion by 2028 at a healthy CAGR of 21.9% during the forecast period.

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What is Nanocellulose?

Nanocellulose is a versatile and sustainable nanomaterial derived from cellulose, the main component of plant cell walls. It is produced by breaking down cellulose fibers into nanoscale dimensions, resulting in unique properties and a wide range of applications. Nanocellulose exhibits exceptional strength, biodegradability, high aspect ratio, large surface area, and compatibility with other materials. It can be obtained from various natural sources, including wood, plants, and bacteria.

Nanocellulose finds applications in diverse fields such as packaging, textiles, paper production, biomedical engineering, electronics, and composites. Its environmentally friendly nature and potential to replace non-renewable materials have positioned nanocellulose as a promising material for future sustainable industries.

Market Dynamics

Nanocellulose, obtained from renewable sources like wood fibers, possesses remarkable attributes, including remarkable strength, lightweight nature, and biodegradability. These exceptional qualities render it highly appealing for a wide range of applications, encompassing packaging, composites, electronics, and healthcare. The market's growth is primarily propelled by the escalating demand for sustainable and eco-friendly materials in various industries. Additionally, advancements in nanotechnology and intensified research and development endeavors contribute significantly to the expansion of this market. Nonetheless, challenges such as elevated production costs and limited scalability present obstacles. Nevertheless, the nano cellulose market holds immense growth potential, buoyed by the mounting environmental consciousness and ongoing technological advancements.

Segments Analysis

By Product Type

Based on the product type, The market is segmented as micro fibrillated cellulose & nano fibrillated cellulose, cellulose nanocrystal, and others. The micro-fibrillated cellulose & nano fibrillated cellulose segment held the largest share of the market and is expected to remain dominant during the forecast period. Micro-fibrillated cellulose has the property to form strong entangled bonds which enables it to provide strong reinforcing potential for various applications.

By Application Type

Based on the application type, The nanocellulose market is segmented as pulp & paper, composites & packaging, biomedical & pharmaceuticals, electronics & sensors, and others. The pulp & paper segment dominates the market, whereas the electronics & sensors segment is estimated to be the fastest-growing segment during the forecast period, owing to the usage of nanocellulose as additives for making paper and producing stronger paper at a lighter weight. In addition, increasing usage of sensors in industrial and other applications is majorly driving the growth of the segment.

Regional Analysis

In terms of regions, Europe is estimated to be the largest as well as fastest growing nanocellulose market during the forecast period, owing to the increasing awareness concerning nanocellulose. This has led to the growing usage of nanocellulose in various applications, which is driving the region’s market.

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Key Players

Some of the major nanocellulose manufacturers are-

• Innventia AB
• American Process
• FPInnovations
• CelluForce
• Stora Enso OYJ
• Kruger Inc

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders validation, and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players).
• SWOT analysis of key players (up to 3 players).

Market Segmentation

• Current market segmentation of any one of the product types by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.