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Nanocellulose Market size to surpass $3.3Bn by 2032

  • Published Date: November 11, 2022

Nanocellulose Market size is projected to exceed USD 3.3 billion by 2032, as per a recent research report announced by Global Market Insights Inc.

Rising demand for sustainable products across various end-user industries will drive the development of nanocellulose-based materials. Several manufacturers and suppliers of nanocellulose are investing heavily in the development of advanced technologies & products which can help reduce environmental threats. Regulatory bodies are imposing stringent laws to limit the use of non-biodegradable material in the packaging sector.

Emerging use of nanocrystalline cellulose in nanotech applications

Nanocellulose market share from the nanocrystalline cellulose segment is expected to register over 20% CAGR between the years 2023 to 2032. Nanocrystalline cellulose (NCC) has unique chemical, optical, and electrical characteristics. It has been a promising renewable biomaterial that can be used in high-performance nanocomposites as a reinforcing component. With simple chemical modifications on the cellulose surface, companies can improve its dispersibility in different solvents and enhance its utilization in nanotech applications. Some of its uses include drug delivery, protein immobilization, and inorganic reaction templates. Such a vast application spectrum will influence the demand for nanocrystalline cellulose by 2032.

Wide-ranging application of nanocellulose material in composites

Nanocellulose market share from the composites application was valued at over USD 125 Million in 2022. Nanocellulose holds unique characteristics that make it a crucial material for reinforcing plastics. Some of these characteristics include extreme shear thinning, improved dispersion & stabilization of particles, and fast viscosity recovery. It also improves the mechanical properties of several composites such as soy protein, thermosetting resins, starch-based matrixes, rubber latex, and poly(lactide).

Wide-ranging use of nanocellulose in surface coatings and additives in wallboards, insulation, wood-based structural components, and cement or concrete will support product demand. For instance, in wallboards and other structural components, the material can be used for its ability to improve strength-to-weight ratios and add water resistance. While for insulation, cellulose nanomaterial can provide a thinner and more breathable insulation material. Nanocellulose can also be used to reinforce cement to increase durability and toughness.

Browse key industry insights spread across 416 pages with 598  market data tables and 36 figures & charts from the report “Nanocellulose Market Statistics By Product (Nanofibrillated Cellulose, Nanocrystalline Cellulose, Bacterial), Application (Composites, Paper Processing, Food & Beverages, Paints & Coatings, Oil & Gas, Personal Care), COVID-19 Impact Analysis, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2023 – 2032”, in detail along with the table of contents:

New R&D activities to influence Europe nanocellulose industry dynamics

Europe is expected to account for over USD 1 billion of the global industry share by 2032. This growth is estimated to be driven by the different research and development (R&D) activities taking place in the region. Countries across Europe are home to some of the leading production industries and construction businesses. Products including plastics, packaging supplies, composites, etc., are in high demand from a variety of manufacturing sectors in the region. Such a scenario will help fuel the expansion of the nanocellulose market in Europe.

Strategic partnerships and mergers between nanocellulose manufacturers

Sappi Limited, CelluForce Inc., FPInnovations, Borregaard ASA, American Process Inc. (API), Kruger Inc., Nippon Paper Group Inc., Daicel Corporation, Melodea Ltd., CelluComp Ltd., J. Rettenmaier & Söhne GmbH + Co. KG, Asahi Kasei Corporation, Oji Holdings Corporation, Stora Enso, Holmen AB, and Anomera are some of the leading manufacturers operating in the global nanocellulose market.

Authors: Kiran Pulidindi, Kunal Ahuja

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