Nanocellulose Market by Type (MFC & NFC, CNC/NCC), Raw Material (Wood, Non-wood), Application (Paper & Pulp, Composites, Paints & Coatings, Biomedical & Pharmaceuticals, Electronics & Sensors), and Region - Global Forecast to 2030
Nanocellulose Market
The global nanocellulose market was valued at USD 0.4 billion in 2022 and is projected to reach USD 2.0 billion by 2030, growing at a cagr 21.9% from 2022 to 2030. Rising concerns regarding the environment, shifting the demand towards bio-based products are driving the demand for nanocellulose.
Attractive Opportunities in the Nanocellulose Market
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Nanocellulose Market Dynamics
Driver: Increasing demand for sustainable products with improved material science
The addition of nanocellulose imparts properties such as biodegradability, low toxicity, increased strength and stiffness, and low weight to end products. Due to these enhanced properties, nanocellulose is able to substitute petroleum-based packaging, metallic components, and other non-renewable materials. The innovation of bio-based products is becoming a growing trend that is significantly influencing business decisions and corporate investments globally which is positively impacting the nanocellulose market.
Restraint: Regulatory barriers
Regulation policy in some countries are barriers for nanocellulose market. Moreover, it is possible that the regulations regarding nanocellulose materials might change in the coming years. It is expected that the uncertainty related to the current legislation in European countries might hinder the development of new materials.
Opportunity: Focus on weight reduction of vehicles
Nanocellulose finds application in automotive industry. In the automotive industry, one of the main goals is to replace heavy steel structures in cars, such as set frames, with advanced reinforced polymers that have cost parity with traditional materials. Nanocellulose helps in reducing the weight of interior components of vehicles and can lead to major weight reductions.
Challenge: Issues associated with product standardization
Companies are still under the process of achieving product standardization for nanocellulose. There is a need to better characterize cellulose nanomaterials with respect to their structure, surface properties, and performance. Nanocellulose-based products are manufactured on a small scale, and maintaining their quality is not easy on a large scale.
Nanocellulose Market Ecosystem
Based on type, the MFC & NFC segment is projected to grow at a significant CAGR during the forecast period.
The demand for MFC & NFC is increasing exponentially mainly due to its nano-scale dimensions and the ability to form a strong entangled nanoporous network. MFC & NFC has properties such as high yield, high specific surface area, high strength and stiffness which has been widely used in nanocomposites due to its outstanding reinforcing potential.
Based on raw material, the wood segment is projected to grow at a significant CAGR during the forecast period
Wood accounts for the major share of raw material of nanocellulose market. The manufacture of MFC & NFC is primarily done from wood via the mechanical and chemical processing of the cellulosic mass. Wood- based pulp is easily available and simple to process.
Based on application, the pulp & paper segment accounts for the largest share of the overall market
Based on application, pulp & paper segment accounts for highest share. Pulp & paper currently is the most extensive application in the nanocellulose market. Nanocellulose are used as additives in papermaking to produce lighter and stronger paper and board, as it has the potential to cut down the production cost. The paper prepared through this method has enhanced properties, such as less porosity, higher printing quality, and less transparency.
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Europe is expected to account for the largest share of the global market during the forecast period.
Based on the region, Europe accounts for the largest share. Europe is the largest and fastest growing nanocellulose market. The demand of nanocellulose is increasing in various applications in Europe such as paper & pulp, composites, paints & coatings, among other. Europe is also a one of the biggest manufacturing hub of nanocellulose materials.
Nanocellulose Market Players
Fiberlean Technologies (UK), Borregaard (Norway), Nippon Paper Group (Japan), Celluforce (Canada), Kruger Inc. (Canada), Stora Enso (Finland), RISE Innventia (Sweden), American Process Inc. (U.S.), FPInnovations (Canada), UPM (Finland) and others are among the key players leading the market through their innovative offerings, enhanced production capacities, and efficient distribution channels.
Nanocellulose Market Report Scope
|
Report Metric |
Details |
|
Market Size Available for Years |
2018 to 2030 |
|
Base Year Considered |
2021 |
|
Forecast Period |
2022–2030 |
|
Forecast Units |
Value (USD Million/Billion), Volume (Tons) |
|
Segments Covered |
Type, Raw Material, Application, and Region |
|
Geographies Covered |
North America, Asia Pacific, Europe, Rest of World |
|
Companies Covered |
The major market players include Fiberlean Technologies (UK), Borregaard (Norway), Nippon Paper Group (Japan), Celluforce (Canada), Kruger Inc. (Canada), Stora Enso (Finland), RISE Innventia (Sweden), American Process Inc. (U.S.), FPInnovations (Canada), UPM (Finland) and others |
This research report categorizes the nanocellulose market based on type, raw material, application, and region.
Based on type, the nanocellulose market has been segmented as follows:
- MFC & NFC
- CNC/NCC
- Others (BNC, TC, ANC, and CNY)
Based on raw material, the nanocellulose market has been segmented as follows:
- Wood
- Non-wood
Based on application, the nanocellulose market has been segmented as follows:
- Pulp & Paper
- Composites
- Biomedical & Pharmaceuticals
- Paints & Coatings
- Electronics Sensors
- Others (cosmetics, oil & gas, and food & beverage)
Based on the region, the nanocellulose market has been segmented as follows:
-
APAC
- China
- India
- Japan
- Rest of APAC (Indonesia, Thailand, Singapore, Malaysia, Taiwan, Hong Kong, and Australia)
-
Europe
- Norway
- Finland
- Sweden
- Germany
- UK
- France
- Spain
- Netherlands
- Rest of Europe (Russia, Switzerland, and Portugal)
-
North America
- U.S.
- Canada
- Mexico
-
Rest of World
- Brazil
- Others (Rest of South America, Middle East & Africa)
Recent Developments
- In June 2021, Nippon Paper Industries has acquired Elopak ASA, a Norway-based company offering paper-based packing solutions to strengthen its position in the global packaging market.
- In March 2021, Werhahn KG Group, a family-owned business group has acquired 100% ownership of FiberLean Technologies.
- In October 2020, Borregaard has received a funding from the Research Council of Norway (NFR) for an innovation project to maximize the value of raw materials and reduce waste streams in industrial processes.
Frequently Asked Questions (FAQ):
What are the upcoming hot bets for the nanocellulose market?
The focus of automotive manufacturers on reduction of vehicle weight will be the key areas wherein nanocellulose is expected to find heavy growth in the near future.
How are the market dynamics changing for different types of nanocellulose?
Notion of nanomaterials providing superior characteristics to products they are incorporated in slowly shifting the demand towards nanofibrillated and nanocrystalline cellulose from microfibrillated cellulose.
What are the major applications of nanocellulose?
Pulp & paper, composites, paints & Coatings are the major applications of nanocellulose.
Who are the major manufacturers of nanocellulose?
The key manufacturers operating in the market include FiberLean Technologies (UK), Borregaard (Norway), CelluForce (Canada), Nippon Paper Group (Japan) and Kruger Inc. (Canada)
How are the market dynamics changing for different regions of nanocellulose?
Regulations related to sustainability in Europe and other regions is driving the demand for sustainable packaging products, in turn, providing a push to the demand for nanocellulose. .
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The study involved four major activities in estimating the current market size of nanocellulose. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizes with industry experts across the value chain of nanocellulose through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the size of the segments and sub-segments of the market.
Secondary Research
The research methodology used to estimate and forecast the access control market begins with capturing data on revenues of key vendors in the market through secondary research. In the secondary research process, various secondary sources, such as Hoovers, Bloomberg BusinessWeek, Factiva, World Bank, and Industry Journals, were referred to for identifying and collecting information for this study. These secondary sources included annual reports, press releases & investor presentations of companies; white papers; certified publications; articles by recognized authors; notifications by regulatory bodies; trade directories; and databases. Vendor offerings have also been taken into consideration to determine market segmentation.
Primary Research
The nanocellulose market comprises several stakeholders, such as raw material suppliers, processors, end-product manufacturers, and regulatory organizations, in the supply chain. The demand side of this market is characterized by the development of pulp & paper, composites, biomedical & pharmaceutical, paints & Coatings, electronics & sensors, and other applications. Advancements in technology characterize the supply side. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Following is the breakdown of the primary respondents:
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Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the total size of the nanocellulose market. These methods were also used extensively to determine the size of various sub-segments in the market. The research methodology used to estimate the market size included the following:
- The key players were identified through extensive primary and secondary research.
- The value chain and market size of the industrial evaporators market, in terms of value, were determined through primary and secondary research.
- All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
- All possible parameters that affect the market covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
- The research included the study of reports, reviews, and newsletters of top market players, along with extensive interviews for opinions from key leaders, such as CEOs, directors, and marketing executives.
Data Triangulation
After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the pulp & paper, composites, paints & coatings, biomedical & pharmaceuticals, electronic & sensors and other industries.
Report Objectives:
- To analyse and forecast the nanocellulose market, by type, raw material, and application, in terms of value and volume.
- To forecast the market size for various segments with respect to four main regions: Asia Pacific, Europe, North America, Rest of the World, along with their key countries
- To provide detailed information regarding drivers, restraints, opportunities, and challenges influencing market growth
- To analyse the opportunities in the market for stakeholders by identifying the high-growth segments of the nanocellulose market
- To strategically analyse the micromarkets1 with respect to individual growth trends, growth prospects, and their contribution to the overall market
- To benchmark players within the market using competitive leadership mapping, which analyses market players on various parameters within the broad categories of business and product strategies.
- To map the competitive intelligence based on company profiles, key player strategies, and game-changing developments, such as product launches and developments, expansions, mergers and acquisitions, and contracts and agreements
- To strategically profile the key players and comprehensively analyse their market shares and core competencies2.
Available Customizations:
With the given market data, MarketsandMarkets offers customizations according to the client-specific needs.
The following customization options are available for the report:
Product Analysis
- Product matrix, which gives a detailed comparison of the product portfolio of each company.
Regional Analysis
- Further analysis of the nanocellulose market for additional countries in APAC and RoW.
Company Information
- Detailed analysis and profiling of additional market players (up to five)
Generating Response ...
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The Nanocellulose Market Report, on the market segmentation front, is broken down into market Type (MFC & NFC, CNC/NCC, and Others), Application (Pulp&paper, composites, biomedical & pharmaceutical, electronics & sensors, and others). The Market estimation has been provided both in USD Value and KT in consumption.
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