Nanocellulose Market Size, Share, Demand Analysis, Forecast 2032

Nanocellulose Market: Industry Prospective

The global nanocellulose market size was worth around USD 410.23 million in 2023 and is predicted to grow to around USD 1,885.83 million by 2032 with a compound annual growth rate (CAGR) of roughly 18.47% between 2024 and 2032.

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Nanocellulose Market Overview

Nanocellulose is nanostructured cellulose present in the form of nanocrystals or nanofibers. They are basically obtained from the chemical or mechanical treatment of cellulose, which is abundantly available across the world. The longitudinal dimensions of the nanocellulose ranges from a few 10's of nanometers to several microns, and lateral dimensions of the nanocellulose ranging from the 5 to 20 nm. The nanocellulose is lightweight, electrically conductive, non-toxic, and offers high tensile strength. Moreover, the crystalline form of the nanocellulose is transparent and gas impermeable in nature. Nanocellulose is majorly used for the body armor, in flexible screens, bendable batteries, and ultra-absorbent aerogels among others. Moreover, they can act as a low-calorie replacement for carbohydrate additives used as flavor carriers, thickeners, and suspension stabilizers. In addition to this, powdered form of the nanocellulose is used as an excipient in pharmaceutical formulations.

The report covers forecasts and analysis for the nanocellulose market on a global and regional level. The study provides historical data for 2018 to 2022 along with a forecast from 2024 to 2032 based on volume (Kilotons) and revenue (USD Million). The study includes drivers and restraints for the nanocellulose market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the nanocellulose market on a global level.

Nanocellulose Market Growth Dynamics

Increasing nanocellulose demand for a wide range of applications in several end-use industries such oil and gas, food and beverages, paper processing, and personal care products  are positively influencing the market growth. Rising number of manufacturers across the world are capitalizing on the demand that is coming from various industries, particularly from the food & beverages and oil & gas industries. Moreover, the increase in demand for nanocellulose in the food and beverages packaging sector over the last few years is positively impacting the need for the eco-friendly and biodegradable packaging. The nanocellulose market is also benefitting from the increasing application of nanocellulose in the paper processing industries across the world. However, the lack of awareness regarding nanocellulose in the emerging countries together with the large investments required to scale up its production are the considerable factors anticipated to hamper the nanocellulose market growth. 

In order to give the users of this report a comprehensive view of the nanocellulose market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein type and application are benchmarked based on their market size, growth rate, and general attractiveness.

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Nanocellulose Market Segmentation Analysis

On the basis of type, the nanocellulose market is segmented into bacterial nanocellulose, nanofibrillated cellulose, and nanocrystalline cellulose. Based on the application, the nanocellulose market is divided into paper processing, composites & packaging, paints and coatings, oil and gas, biomedical & pharmaceuticals, electronics & sensors, and food and beverages.

On the basis of geography, North America accounted for the largest nanocellulose market share in terms of revenue in 2023. The growth in this region is attributed to the technological advancements and the presence of the major key players such as American Process, CelluForce, FPInnovations, and Kruger manufacturing nanocellulose. The U.S. contributes majorly towards the overall growth of nanocellulose market share as it is the largest consumer and manufacturer of nanocellulose. The rising demand for nanocellulose in this region is due to the growing automotive and construction industries in the region. Europe is anticipated to be the second largest region followed by North America in terms of revenue. Increasing applications of nanocellulose in various end-use industries are projected to support the nanocellulose market growth in the upcoming years as well.

Nanocellulose Market: Report Scope

The regional segmentation also includes the historic and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. These regions are further divided into countries.

Nanocellulose Market: Competitive Analysis

The global nanocellulose market is dominated by players like:

• Innventia
• FPInnovations
• American Process Inc.
• Melodea Ltd.
• Diacel FineChem
• CelluForce
• Nippon Paper Group Inc.
• UPM-Kymmene Oyj
• Stora Enso
• J. Rettenmaire & Sohne GmBH (JRS)
• Kruger
• Borregaard
• Sappi Ltd.
• Asahi Kasei Corporation

This report segments the global nanocellulose market as follows:

Global Nanocellulose Market: Type Analysis

• Nanofibrillated Cellulose
• Nanocrystalline Cellulose
• Bacterial Nanocellulose

Global Nanocellulose Market: Application Analysis

• Paper Processing
• Composites & Packaging
• Paints and Coatings
• Oil and Gas
• Biomedical & Pharmaceuticals
• Electronics & Sensors
• Food & Beverages  

Global Nanocellulose Market: Region Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa