Global Nanocellulose Market Report and Forecast 2024-2032

Global Nanocellulose Market Outlook

The global nanocellulose market size attained a value of approximately USD 560.49 million in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 21.7%, reaching a value of around USD 3282.26 million by 2032.

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The thriving food packaging sector is one of the major contributors adding to the growth of the market for nanocellulose. Increasing demand for clean-labelled ready-to-eat and ready-to-cook meals and fresh juices and soft drinks are escalating the use of nanocellulose for high-quality packaging. Growing research and development activities aimed towards producing bio-based packaging solutions to encourage intelligent packaging for long-term sustainability are likely to expand the nanocellulose market opportunity.

Meanwhile, the increasing application of nanocellulose in oilfield chemistry, in various arenas such as drilling fluid chemistry and production chemistry is enlarging the market. Increasing investments in oil exploration activities and oilfield research processes are further expected to aid the market for nanocellulose.

Global Nanocellulose Market Share by Region

Growing demand from the pulp and paper industry is boosting the market for nanocellulose in Europe. Further, the increasing investments in research and development in the European regions by key players are also augmenting the demand for nanocellulose in the region.

North America is also one of the major regional markets for nanocellulose. The growth of the regional market is attributed to the increasing commercial construction sector and renovation projects in North America. The rapidly growing paints and coatings industry, food and beverage industry, and cosmetics sector are further projected to propel the growth of the nanocellulose market in the North American region.

Nanocellulose: Market Segmentation

Nanocellulose is a light solid material, which is produced from plant matter and comprises of nanosized cellulose fibrils. The nano-structured cellulose is known as nanocellulose and is a pseudo plastic in nature with the characteristics of specific kinds of thick gels or fluids.

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On the basis of product type, the market is segmented into:

• Nanocrystalline Cellulose (NCC)

• Nanofibrillated Cellulose (NFC)

• Bacterial Cellulose (BC)

• Others

Based on application, the market is classified into:

• Composites and Packaging

• Pulp and Paper

• Food and Beverages

• Paints and Coatings 

• Biomedical and Pharmaceuticals

• Oil and Gas

• Others

The regional markets for nanocellulose are divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Demand for Sustainable Packaging Materials to Propel the Nanocellulose Market Growth

Nanocellulose is a renewable and economic material that can satisfy the growing demand for biodegradable packaging in lightweight packaging market. Its strong strength and stretchability is augmenting its demand in the packaging sector, leading to the expansion of the market for nanocellulose. The flourishing food and beverage market is further  boosting the market for nanocellulose. Increasing global awareness of biodegradability and increasing stringent government regulations for sustainable development are also expected to accelerate the growth of the market for nanocellulose in near future. As paper produced with nanocellulose has stronger properties like better printing quality, lower transparency, and reduced porosity, these enhanced qualities and lower production cost are leading to a surge in the demand for nanocellulose from the paper and pulp industry.

Key Players in the Global Nanocellulose Market

The report gives a detailed analysis of the following key players in the global nanocellulose market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• CelluForce Inc.

• Nippon Paper Industries Co., Ltd. 

• Kruger Inc.

• Sappi Europe SA

• UPM-Kymmene Corporation

• Melodea Ltd.

• CelluComp Ltd

• Weidmann Holding AG

• Nature Costech Co., Ltd.

• FiberLean Technologies Ltd.

• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report