The global nanocellulose market value is forecast to increase from US$ 474.8 million in 2023 to US$ 2,725.5 million by 2033. Overall cellulose sales will soar at an impressive CAGR of 19.1% from 2023 to 2033.
Rising demand for nanocellulose from packaging, biomedical, and electronics industries will drive the market. Similarly, increasing usage of cellulose in manufacturing of paper products will boost sales.
The mainstream nanocellulose manufacturers are located in East Asia and North America regions. Europe on the other hand is one of the key consumer markets due to high demand from industries.
The market in South Asia and Africa is likely to flourish in the forecast period as the prices of the product are set to witness a reducing trend owing to the rising commercialization of production facilities.
Prominent manufacturers of nanocellulose are strategically expanding their production capacities to meet the growing demand for paper & packaging applications.
Various companies are investing in research and development to discover additional potential applications for nanocellulose in fields such as cosmetics, paints and coatings, dyes, detergents, and 3D printing.
Besides the above-mentioned industry trends, the nanocellulose market is also heavily influenced by demographic, macroeconomic, innovation, and sustainability factors. Based on these factors, significant investments have been made in the nanocellulose market, which is expected to drive demand for nanocellulose in the forecast period.
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Key Takeaways from Nanocellulose Market:
· Global sales of nanocellulose will rise at 19.1% CAGR from 2023 to 2033.
· By product type, cellulose nanofibrils (CNF) segment accounts for around 68% share of the market.
· By end use, packaging sector consumes about 27% of the global nanocellulose production.
· East Asia nanocellulose market is forecast to thrive at 21.4% CAGR between 2023 and 2033.
· Nanocellulose demand in North America will surge at 18.10% CAGR through 2033.
· The United States is likely to hold around 16.1% share of the global market in 2033.
“The nanocellulose market holds a huge potential for growth due to the superior properties of the material as well as its eco-friendly benefit over the traditional materials. Market players are focusing both on expansion as well as research on nanocellulose to not only boost the production but also to find novel applications and explore the untapped opportunities in the nanocellulose market.” says an FMI analyst.
Who is Winning?
The nanocellulose market is believed to be dominated by a few key players, who are projected to hold about 45% of the market share. These leading players include Sappi, Nippon Paper Industries, GranBio, CelluForce Inc., American Process Inc., Anomera, and others.
Key players are concentrating on expanding their production capacity to improve their global footprint. Further top players are also investing significantly in innovation in the product series.
More Insights into the Nanocellulose Market Report:
In its latest report, Future Market Insights offers an unbiased analysis of the global nanocellulose market, providing historical data from 2018 to 2022 and forecast statistics for the period 2023 to 2033. To understand the global market potential, growth, and scope, the market is segmented based on product type, end use, and region.
Nanocellulose Industry Segmentation
By Product Type:
Cellulose Nanofibrils (CNF)
Cellulose Nanocrystals (CNC)
Bacterial Nanocellulose (BNC)
By End Use:
Packaging
Paper
Composites
Food Ingredient
Cosmetics and Personal Care
Textiles
Electronic Devices
Pharmaceutical and Biomedical
Others
By Region:
North America
Latin America
Europe
East Asia
South Asia and Pacific
Middle East and Africa