Acumen research and consulting estimates that the global nanocellulose market is anticipated to reach market size of around US$ 420 Bn by 2027 and is anticipated to grow at a CAGR of around 21% in terms of revenue during the forecast period 2020 – 2027.
Nanocellulose is a substance composed of long length to width nano-sized fibrils of cellulose. The measurements range usually from 5-20 nm and large micrometers. This is pseudo-plastic in nature and has the qualities of the gel and the viscous material, but is less viscous and can even float as it is agitated. It is termed thixotropy. Nanocellulose is used in a wide variety of applications for this property.
Over the prediction period, the global nanocellulose market will expand at a moderate CAGR. The rise of the world economy is driving the increase in car production & demand, the increased quality of living and the expansion of the cosmetics industry. Therefore, Nanocellulose demand is projected to rise significantly over the forecast period due to the growing petroleum and gas industry. In the near future, growing production of crude oil worldwide is projected to fuel demand growth. In addition, accelerated urbanization and increasing disposable income are expected to fuel demand in the revision period in developing economies. In tandem with demand for biodegradable products the ongoing development of the paints & coatings industry is also expected to boost business growth. In addition, the expansion of personal care in developed and developing countries is projected to fuel demand growth during the 2020-2027 forecast periods.
The nanocellulose market has had a significant effect on the Covid-19 pandemic. Producers solve pandemic problems and respond to changing market dynamics. A significant impact on end-use demand due to regular shutdown operations has reduced nanocellulose producers' sales prospects. The pandemic has, for instance, severely impacted the oil and gas market. As several countries have declined sharply after lock-up and restriction flight, the market for oil and gas has plummeted. Most manufacturers have therefore halted or decreased production, thus hampering the competition from the oil and gas industry on the nanocellulose market. In large end-use sectors such as paints and coatings, textiles and composites, a related pattern can be observed.
The Asia Pacific market is projected to expand during the assessment period at the fastest CAGR due to the growth of the composites and packaging industry. The market for nano-cellulose is projected to increase, owing to a growing medium-sized population, along with the continued growth of light vehicle sales in various countries of Asia Pacific including China, India, Vietnam, Thailand, Malaysia, Bangladesh and South Korea. The nanocellulose market has, in turn, greatly led to the growing numbers of light weights and heavy duty cars on the road. In addition, the high rate of adoption and technical innovation are projected to fuel business growth during 2020-2027. The supply of cheap labor and raw materials, low production costs and moderately strict regulatory structure also are other factors due to demand development in Asia Pacific. North America is Europe and Asia Pacific main consumer in nanocellulose. It is expected that North America will be modest in growth due to high demand expectations, expanded manufacturing efficiency and accelerated economic growth. Countries like the US and Canada is one of the major contributors to nanocellulose market Regional Growth in the North American market, and a significant number of demands are anticipated during the forecast period 2020-2027. The US constitutes the highest industry proportion and is tracked by Canada in terms of size and volume, with the increasing composites and packaging sectors expected to expand at a healthy CAGR. In Europe, nanocellulose demands are expected to rise by rising product spending and customer buying forces in specific nations, such as Poland, Italy, Germany, Spain, UK, France and Russia. As a result of increased automotive production and consumption combined with increasing demand for lightweight passenger vehicles, Germany and the UK have emerged as leading consumer market. It is also projected that the amount and spending for cosmetics and personal care goods in Latin Americans such as Argentina, Colombia and Brazil is rising at a modest rate. In the analysis period, the near East and Africa are expected to be seeing tremendous growth as the oil & gas sector is growing tremendously.
Major players included in this report are American Process, Sappi Limited, Innventia AB, Borregaard ASA, FPInnovations, Kruger, Daicel Corporation, J. Rettenmaire & Sohne, Melodea Ltd., Asahi Kasei Corporation, CelluComp Ltd, Stora Enso, Holmen AB, Oji Holdings Corporation, and others. Due to its biological qualities, the nanocellulose market anticipates enormous potential in the future. Throughout the period 2020–2027, the industry saw the submission of large numbers of patents. Capacity building is a crucial tactic for businesses to increase their market footing.
The global nanocellulose market is segmented as below:
Nanocellulose Market By Product Type
Nanofibrillated Cellulose (NFC)
Nanocrystalline Cellulose (NCC)
Microfibrillated Cellulose (MFC)
Other Product Types
Nanocellulose Market By End User Industry
Paints and Coatings
Oil and Gas
Food and Beverage
Pharmaceuticals and Cosmetics
Other End Users
Nanocellulose Market By Geography
Middle East & Africa
The market value of nanocellulose is anticipated to be around US$ 420 Bn in 2027.
It is anticipated to grow around 21% CAGR amid the forecast period 2020-2027
North America held maximum share in 2019
Asia Pacific is projected to grow at a fast pace during forecast period from 2020-2027.
Rising demand for technologically advanced sustainable product across various end-user industries is expected to drive the growth of the nanocellulose market.
Lack of consumer awareness is a major factor expected to restraint the growth of the market.
Some of the players considered in the report scope are American Process, Sappi Limited, Innventia AB, Borregaard ASA, FPInnovations, Kruger, Daicel Corporation, J. Rettenmaire & Sohne, Melodea Ltd., Asahi Kasei Corporation, CelluComp Ltd, Stora Enso, Holmen AB, Oji Holdings Corporation, and others.