Global Nanocellulose Market to Grow at a CAGR of 21.7% During 2024-2032, Aided by the Growing Sustainability Concerns

Nanocellulose is a type of nanomaterial that can be derived from various biomass resources, which makes it a sustainable option. Nanocellulose is known to be nontoxic, non-hazardous, biocompatible, and environmentally beneficial. It is being increasingly adopted across various applications such as paper making, packaging, energy and electronics, biomedical applications, sensors, coatings, and cosmetics, due to their intrinsic properties, renewability, and abundance amidst the growing sustainability and environment safety concerns.

The expanding packaging sector is a key driver of the nanocellulose market. The rising disposable incomes, increasing population, and high consumer spending power predominantly among the emerging countries such as China and India are increasing the sales of packaged food, healthcare, and cosmetics packaging. Furthermore, the increasing inclination towards bio-based materials in the packaging sector is providing opportunities for the growth of the market.

The increasing research and development on the applications of nanocellulose is supporting the market growth. Nanocellulose is gaining traction as a super versatile material, with low thermal expansion coefficient, high aspect ratio, high crystallinity, and good mechanical and optical properties, making it suitable for military applications such as bulletproof vests, fire-retardant materials.

Major end use sector companies such as Sealed Air Corporation (NYSE: SEE) are actively engaged in research and development of packaging materials. In October 2021, Toyoda Gosei Co. Ltd. developed a nanocellulose fiber-reinforced plastics for interior and exterior automotive products to make lightweight containers. The company aims to apply the material to automotive parts in the upcoming years.

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Market Analysis by Product Type, Application, and Region:

• The market on the basis of product type can be divided into nanocrystalline cellulose (NCC), nanofibrillated cellulose (NFC), and bacterial cellulose (BC), among others.

• The applications for nanocellulose include composites and packaging, pulp and paper, food and beverages, paints and coatings, biomedical and pharmaceuticals, and oil and gas, among others.

• The regional markets for nanocellulose include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The increasing concern regarding the use of petroleum-based chemicals and products is resulting in a greater adoption of nanocellulose due to its environment friendly characteristics.

• The expanding pulp and paper sector is contributing to the increased use of nanaocellulose on a global scale.

• Increasing research and development for the application of nanocellulose in various end use sectors is supporting the market growth.

• The growing packaging sector, driven by rising consumer spending, is contributing to the market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global nanocellulose market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the product type, application, and regions of nanocellulose.

• It assesses the regional price trends for the (2018-2023) and (2024-2032) periods.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the nanocellulose market are CelluForce Inc., Nippon Paper Industries Co., Ltd., Kruger Inc., Sappi Europe SA, UPM-Kymmene Corporation, Melodea Ltd., CelluComp Ltd, Weidmann Holding AG, Nature Costech Co., Ltd., and FiberLean Technologies Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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