Nanocellulose Market to Hit USD 1514.36 Million by 2030 on Account of Increasing Demand in Biomedical Applications and Government Initiatives | Research by SNS Insider

According to SNS Insider’s research, as the nanocellulose market continues to evolve, driven by environmental consciousness, technological advancements, and expanding applications, its significance across industries becomes increasingly apparent

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Pune, Nov. 30, 2023 (GLOBE NEWSWIRE) -- The Nanocellulose Market, as indicated by the SNS Insider report, exhibited a valuation of USD 318.86 million in 2022.

SNS Insider Projections suggest that Nanocellulose Market is poised to achieve a substantial growth, reaching USD 1514.36 million by 2030, with a projected Compound Annual Growth Rate (CAGR) of 21.5% during the forecast period spanning from 2023 to 2030.

Market Overview

Nanocellulose stands as a testament to the ingenious utilization of cellulose, a natural polymer found in plant cell walls. The production of nanocellulose involves breaking down cellulose fibers into nanoscale dimensions, typically ranging from 1 to 100 nanometers. This results in an incredibly versatile material that exhibits remarkable strength, light weight, and transparency. Nanocellulose comes in various forms, including nanocrystalline cellulose (NCC), nanofibrillated cellulose (NFC), and bacterial nanocellulose. Each variant possesses unique characteristics, allowing for diverse applications across industries such as packaging, textiles, healthcare, and electronics.

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Market Analysis

The increasing emphasis on sustainability has positioned nanocellulose as a frontrunner in eco-friendly materials. Derived from renewable resources, nanocellulose offers a sustainable alternative to conventional materials, reducing the environmental impact across industries. Nanocellulose's versatility is a major growth driver, as it finds applications in diverse industries. From enhancing the mechanical properties of composites to serving as a barrier in food packaging, the range of uses continues to expand, driving demand across different sectors. Ongoing investments in research and development activities have fueled innovations in nanocellulose production and applications. Collaborations between academic institutions, research organizations, and industries are contributing to the discovery of new ways to leverage nanocellulose, further propelling nanocellulose market growth. The biomedical field has witnessed a surge in the use of nanocellulose for drug delivery, wound healing, and tissue engineering. Its biocompatibility and unique properties make it an attractive choice in the development of advanced biomedical solutions, driving demand in this sector.

Nanocellulose Market Report Scope:

Report AttributesDetails
Market Size in 2022USD 318.86  million
Market Size by 2030USD 1514.36 million
CAGRCAGR of 21.5% by 2023-2030
Market Opportunity
  • Pay attention to making vehicles lighter.
  • Innovative Nanocellulose Applications
  • Putting together public-private partnerships
Market Segments
  • By type (MFC & NFC, CNC/NCC, Others)
  • By raw material (Wood, Non-wood)
  • By application (Pulp & Paper, Composites, Biomedical & Pharaceuticals, Electronics Sensors, Others)
Major Market PlayersRettenmaier & Sohne GmbH + Co KG , UPM, Nippon Paper Industries C0 Ltd, Daicel Finchem Ltd, American Process Inc., Stora Enso,Celluforce, Sappi Ltd, Borregard, Kruger Inc and other key players.

Key Takeaway from Nanocellulose Market Study

  • The Pulp & Paper segment has long been a key contributor to the market. As a primary source of cellulose, this segment plays a crucial role in the production of nanocellulose materials. The extraction of nanocellulose from pulp not only adds value to the traditional paper industry but also opens up new avenues for innovation.
  • The Wood segment, encompassing forestry and timber industries, is another significant segment in the nanocellulose market. Wood-derived nanocellulose holds immense promise due to its sustainable and renewable nature.

Recent Developments

  • Australian startup Bucha Bio has recently closed an oversubscribed funding round, securing an impressive $1.1 million. The funds will be directed towards advancing their pioneering work in developing plant-based leather, a promising alternative to traditional animal-derived materials.
  • Australian startup Cass Materials has unveiled its innovative approach to cultivated protein production. The company's pioneering work involves the development of a Nata De Coco scaffold, presenting a novel and eco-friendly solution for the cultivation of protein.

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Market Dynamics Analysis

The nanocellulose market is currently experiencing a dynamic shift driven by a myriad of factors that contribute to its growth and expansion. One of the primary drivers propelling the market forward is the increasing demand for sustainable and eco-friendly materials across various industries. Nanocellulose, derived from plant-based sources such as wood pulp, offers a renewable and biodegradable alternative to traditional materials. This demand surge is further fueled by a growing awareness of environmental issues, prompting industries to adopt green practices. Moreover, the unique properties of nanocellulose, including its lightweight nature, high strength, and versatility, make it an attractive choice for applications in sectors such as packaging, textiles, and biomedical engineering. However, amidst the positive momentum, the market faces certain restraints that necessitate careful consideration. One significant challenge is the high production costs associated with the manufacturing processes of nanocellulose. The intricate procedures involved in extracting and processing nanocellulose contribute to elevated production expenses, impacting its overall market competitiveness.

Key Regional Developments

In North America, the nanocellulose market is witnessing robust growth, propelled by increasing investments in research and development activities, particularly in the United States and Canada. The region's emphasis on sustainable and eco-friendly solutions aligns with nanocellulose's inherent characteristics, fostering its integration into various industries such as packaging, textiles, and healthcare. Europe stands as a prominent player in the global market, with countries like Sweden and Finland leading the way in research and production. The European Union's focus on reducing carbon footprint and promoting bio-based materials aligns with nanocellulose's eco-friendly profile, driving its adoption in sectors like automotive manufacturing and construction. The Asia-Pacific region emerges as a key growth hub for the market, driven by the rapid industrialization and a burgeoning demand for environmentally friendly products.

Impact of Recession

One of the primary consequences of the recession on the nanocellulose market is a decrease in demand across various industries. With economic uncertainties, businesses in sectors like automotive and construction, major consumers of nanocellulose, are cutting back on expenditures, leading to reduced demand for innovative materials. To navigate the challenges posed by the ongoing recession, companies in the market are adopting strategic adaptations. These include diversification of product offerings, exploring new markets, and investing in sustainable practices. Such strategies aim to not only mitigate the immediate impact but also position the industry for long-term resilience.

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TABLE OF CONTENT

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 Impact of the Russia-Ukraine War

4.2 Impact of Ongoing Recession

4.2.1 Introduction

4.2.2 Impact on major economies

4.2.2.1 US

4.2.2.2 Canada

4.2.2.3 Germany

4.2.2.4 France

4.2.2.5 United Kingdom

4.2.2.6 China

4.2.2.7 Japan

4.2.2.8 South Korea

4.2.2.9 Rest of the World

5. Value Chain Analysis

6. Porter’s 5 Forces Model

7. PEST Analysis

8. Nanocellulose Market Segment, By Type

8.1 MFC & NFC

8.2 CNC/NCC

8.3 Others (BNC, TC, ANC, and CNY)

9.Nanocellulose Market Segment, By  Raw Material

9.1 Wood

9.2 Non-wood

10.Nanocellulose Market Segment, By Application

10.1 Pulp & Paper

10.2 Composites

10.3 Biomedical & Pharmaceuticals

10.4 Electronics Sensors

10.5 Textiles

10.6 Others (cosmetics, oil & gas, and food & beverage)

11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.5 USA

11.2.6 Canada

11.2.7 Mexico

11.3 Europe

11.3.1 Eastern Europe

11.3.1.5 Poland

11.3.1.6 Romania

11.3.1.7 Turkey

11.3.1.8 Rest of Eastern Europe

11.3.2 Western Europe

11.3.2.4 Germany

11.3.2.5 France

11.3.2.6 UK

11.3.2.7 Italy

11.3.2.8 Spain

11.3.2.9 Netherlands

11.3.2.10 Switzerland

11.3.2.11 Austria

11.3.2.12 Rest of Western Europe

11.4 Asia-Pacific

11.4.5 China

11.4.6 India

11.4.7 Japan

11.4.8 South Korea

11.4.9 Vietnam

11.4.10 Singapore

11.4.11 Australia

11.4.12 Rest of Asia-Pacific

11.5 Middle East & Africa

11.5.1 Middle East

11.5.1.5 UAE

11.5.1.6 Egypt

11.5.1.7 Saudi Arabia

11.5.1.8 Qatar

11.5.1.9 Rest of Middle East

11.5.2 Africa

11.5.2.5 Nigeria

11.5.2.6 South Africa

11.5.2.7 Rest of Africa

11.6 Latin America

11.6.5 Brazil

11.6.6 Argentina

11.6.7 Colombia

11.6.8 Rest of Latin America

12. Company Profile

12.1 Nippon Paper Industries C0., Ltd (Japan)

12.1.1 Financial

12.1.2 Products/ Services Offered

12.1.3 SWOT Analysis

12.1.4 The SNS view

12.2 Rettenmaier & Sohne GmbH + Co KG (Germany)

12.3 UPM (Finland)

12.4 Daicel Finchem Ltd (Japan)

12.5 Stora Enso (Finland)

12.6 Celluforce (U.S)

12.7 Sappi Ltd (South Africa)

12.6 Borregard (Norway)

12.9 American Process Inc.(U.S)

12.10 Kruger Inc. (Canada)

13.Competitive Landscape

13.1 Competitive Benchmark

13.2 Market Share analysis

13.3 Recent Developments

14. Conclusion

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