Nanocellulose Market Size, Share & Trends Analysis Report By Type (Bacterial Cellulose, Cellulose Nanofibers, Crystalline Nanocellulose), By Applications, By Region, And Segment Forecasts, 2022 - 2030

Nanocellulose Market Size, Share & Trends Analysis Report By Type (Bacterial Cellulose, Cellulose Nanofibers, Crystalline Nanocellulose), By Applications, By Region, And Segment Forecasts, 2022 - 2030

Nanocellulose Market Growth & Trends

The global nanocellulose market is expected to reach USD 1.52 billion by 2030, registering a CAGR of 20.0% during the forecast period, as per the new report by Grand View Research, Inc. The industry growth is majorly driven by the growing concerns regarding the environment and the use of non-toxic and biodegradable packaging material. This shifting trend is anticipated to augment demand for bio-based products which will propel the demand for the nanocellulose based products during the forecast period.

Nanocellulose has enormous potential for expansion in a variety of applications, including food packaging, composites, medicines, personal care, and others. However, the use of nanocellulose-based composites and paper processing has widened owing to its environmentally friendly properties.

Due to their physicochemical properties, cellulose nano fibrils are regarded as one of the greatest futuristic materials for the manufacture of textile products. These nano materials offer great stiffness, high strength, low coefficient of thermal expansion, chemical inertness, and the capacity to change their surface chemistry in addition to being renewable and naturally plentiful. Because of these features, manufacturers of textiles and nonwovens are mixing their traditional textiles with these Nano fibrils, propelling the nanocellulose market growth.

Additionally, CNC has the benefits of high strength, low density, high stiffness, biocompatibility, low thermal expansion coefficient, and renewable sources. Due to these benefits, nanocellulose application in composite materials has drawn more attention. Engineering plastics, biodegradable plastics, biomedical materials, water purification materials, and composites for electronic component applications are some of the major applications.

Growing need for sustainability has increased product demand in the manufacture of composites and packaging items. However, the pandemic had a significant impact on the market, particularly in the paper and pulp industries. The utilization of nanocellulose declined when the demand for paper cut down owing to the global supply constraints on the product. However, the companies expanded into the production of personal protective equipment (PPE) such as masks and gowns utilizing non-woven derived from pulp, which directly led in increased demand for the nanocellulose.

Nanocellulose Market Report Highlights

• The global nanocellulose market is estimated to advance with a moderate growth rate at a CAGR of 20.0% from 2022 to 2030. This growth is attributed majorly due to the shifting trend towards sustainable packaging materials over synthetic materials
• Europe dominated the global market in 2021 with a revenue share of 34.8%. This is attributed to increased industrialization and awareness of the usage of lighter and stronger packaging materials, derived from biodegradable sources, as well as technological advancements in this region
• Cellulose Nanofibers (NFC, MFC) type segment dominated the nanocellulose market in 2021 contributing 53.7% to the global revenue. This is because when compared to other fibers, CNF is the most flexible, longest, and has the largest surface area
• Paper & paperboard application segment was the largest application segment in terms of revenue as it contributed 30.2% to the global revenue share. This is attributable to the high demand for alternate environment-friendly and durable packaging material.
• The market is consolidated with the presence of a few players globally. Companies are investing in R&D to develop innovative products in-lined with the stringent environmental norms