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Nanocellulose Market Size

Report ID: GMI2423
Published Date: Apr 2023
Report Format: PDF

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Nanocellulose Market Size

Nanocellulose Market size valued at USD 340 million in 2022 and is poised to record over 23.5% CAGR between 2023 and 2032. Strong product demand across the packaging sector will accelerate industry growth.

Nanocellulose Market

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Strong demand for sustainable packaging solutions will drive the use of nanocellulose in the coming years. It is an effective alternative to conventional packaging materials and is widely used to reinforce plastic materials that are utilized with hygiene and absorbent products. The material possesses about eight times the strength of steel and is touted to be stiffer than Kevlar. Apart from this, nanocellulose holds several other advantages like biodegradability, sustainability, transparency, flexibility, anti-microbial nature, and excellent mechanical & barrier properties.

The expanding oil and gas sector of North America should push the application scope of nanocellulose. Strong energy needs from the transportation and power sector have elevated oilfield drilling activities across the region. Nanocelluose is widely used for supporting drilling and cementing applications across oilfields. Strategic alliances between O&G companies could boost the nanocellulose market development across North America.

Nanocellulose Market Report Attributes
Report Attribute	Details
Base Year:	2022
Nanocellulose Market Size in 2022:	USD 344 Million
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	23.9%
2032 Value Projection:	USD 3.38 Billion
Historical Data for:	2018 to 2022
No. of Pages:	416
Tables, Charts & Figures:	634
Segments covered:	Product, Application
Growth Drivers:	Strong product demand across the packaging industry Rising food & beverage industry across the globe Rising demand for technologically advanced sustainable products across various end-user industries Rapidly growing oil & gas industry across North America Rising personal care industry in Asia Pacific
Pitfalls & Challenges:	High product prices Lack of consumer awareness

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High product costs compared to other material alternatives may impede market expansion. Packaging materials that are made using nanocellulose are priced much higher compared to polymer-based packaging solutions. Energy-intensive production processes and low consumer awareness regarding nanocellulose could impact product use across diverse applications. However, the exploration of new manufacturing processes and the demand for sustainable packaging solutions could present lucrative growth opportunities in subsequent years.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The global market size for nanocellulose is estimated to record over 23.5% CAGR between 2023 to 2032 due to strong demand for sustainable packaging solutions.

Nanocellulose industry share from the nanofibrillated cellulose segment was USD 200 million in 2022 as the material possesses exceptional properties like superior strength, rigidity, and transparency.

Nanocellulose share from the food & beverages application is expected to record over 24% CAGR between 2023 to 2032 due to the material

North America nanocellulose market is projected to register over 23.5% CAGR between 2032 to 2032 driven by new government investments targeted toward the modernization of public infrastructure.