Nanocellulose Market Growth Analysis | 2023-2028

Market Insights

The nanocellulose market was estimated at USD 0.38 billion in 2022 and is likely to grow at a CAGR of 21.9% during 2023-2028 to reach USD 1.24 billion in 2028.

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Market Dynamics

Introduction

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 Drivers

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.

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Key Players

Some of the major nanocellulose manufacturers are:

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

Note: The above list does not necessarily include all the top players in the market.

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Segments Analysis

By Product Type

Based on the product type,the market is segmented as microfibrillated cellulose & nanofibrillated cellulose, cellulose nanocrystal, and others. The microfibrillated cellulose & nanofibrillated 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 Insights

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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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s nanocellulose market realities and future market possibilities for the forecast period of 2023 to 2028. After a continuous interest in our nanocellulose market report from the industry stakeholders, we have tried to further accentuate our research scope to the nanocellulose market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

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, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 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 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

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

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The nanocellulose market is segmented into the following categories:

By Product Type

• Microfibrillated Cellulose & Nanofibrillated Cellulose
• Cellulose Nanocrystal
• Others

By Application Type

• Pulp & Paper
• Composites & Packaging
• Biomedical & Pharmaceuticals
• Electronics & Sensors
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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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.