The market is expected to generate an incremental $ opportunity of US$ 1, 805.5 Mn between 2022 and 2030
Category: Chemicals & Materials Published Date : July 2022 ID: CVC-00160-CH Format: PDF Pages: 299
Nanocellulose Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Nanocellulose Market was worth US$ 425.9 Mn and is expected to grow at a CAGR of 23.0% over the forecast period. The market is expected to hit US$ 2,231.5 Mn by 2030 end.
Nanocellulose is widely utilized as an ingredient in the pulp and paper industry to make light and white paper, promoting the market growth. Because of its nontoxic qualities are used in health care applications such as biomedicines, personal hygiene products, and cosmetics. Because of its high adsorption capacity, nanocellulose is a good constituent for wound dressings and sanitary napkins.
Rising environmental concerns and commercial drive for more sustainability in end-product production are boosting demand for nanocellulose. The increasing scarcity of resources is also moving demand toward bio-based goods, a major driver of the nanocellulose market.
What factors are driving the increase in demand for Nanocellulose?
The worldwide nanocellulose market is expected to increase significantly over the projected period, owing to the expanding application scope of cellulosic materials in paper and pulp manufacture and rising environmental concerns.
The demand for sustainability pushed the need for bio-based materials such as nanocellulose to fabricate composites and packaging products.
Because of its superior features, the market for nanocellulose has received substantial attention in emerging countries in recent years. It has led to increased private and government financing for nanocellulose application research and commercialization in various sectors.
What are the opportunities in the Nanocellulose Market?
Nanocellulose offers enormous development potential in various applications, including food packaging, composites, medicines, and personal care.
Nanocellulose materials are employed in developing next-generation flexible TV displays, computer screens, PDA screens, and other advertising display systems. Nanocellulose materials are also expected to find use in industrial 3D printers if they make their way into additive manufacturing networks. During the projected period, such novel applications under development might create new growth routes for the market.
What are the major challenges confronting the Nanocellulose Market?
High-end equipment and tools are required to synthesize nanocellulose for a specific application. Nanocellulose manufacture has not yet been widely marketed due to a lack of competence. Furthermore, the few businesses that produce this material have patented their technology. Nanocellulose requires a significant initial expenditure. These challenges might hamper the market growth throughout the forecast period.
The pandemic slashed demand for nanocellulose, particularly in the paper and pulp industries. The use of nanocellulose has dropped as the need for paper has declined, with consumers preferring not to touch materials such as magazines and newspapers. However, the firms ventured into producing PPE-like masks and gowns utilizing pulp non-wovens, which increased demand for nanocellulose because it imparted reduced porosity and hydrophilicity to these items.
Why are MFC and NFC Nanocellulose types expected to grow at the fastest CAGR?
The demand for MFC and NFC is growing exponentially, owing to their nano-scale dimensions and capacity to construct a robust entangled nanoporous network. Its popularity is expanding because of its simple preparation in high yield, specific surface area, and increased strength and stiffness.
Bio-based nanomaterial has been widely used in nanocomposites due to its strong reinforcing capabilities. High-end equipment and tools are required to synthesize nanocellulose for a specific application.
Why is the wood segment likely to grow rapidly throughout the forecast period?
MFC and NFC are generally made from wood by mechanical and chemical processing of the cellulose bulk. Because of the ease of availability of wood-based pulp, the creation of these goods is straightforward, and wood accounts for most of the raw material in manufacturing nanocellulose.
Which application segment is expected to expand the fastest throughout the projected period?
The most widespread use in the nanocellulose industry is now pulp and paper. Because it offers the potential to reduce manufacturing costs, nanocellulose is used as an additive in papermaking to make lighter and stronger paper and board. This process produces paper with improved qualities such as decreased porosity, greater printing quality, and less transparency.
Why is the Europe region cementing its global dominance in the Nanocellulose Market?
Europe has the largest and fastest-growing nanocellulose market, owing to rising demand in the pulp and paper industry and increased investment in nanocellulose research and development. Product development initiatives in Europe have been supported by both the public and commercial sectors. During the forecast period, these factors are projected to increase the demand for nanocellulose in the area.
The nanocellulose market is consolidated. Supply alliances and expansions are effective methods industry leaders employ to preserve their market position.
Some of the key developments that have taken place in the Nanocellulose Market include:
A list of some of the key suppliers present in the market are:
Market Segments Covered in Report
By Raw Material:
By Region and Country:
Global Nanocellulose Market 2022-2030: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2030|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Type, Raw Material, Application, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|