Nanocellulose Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.10 Billion |
| Market Size (2029) | USD 2.86 Billion |
| CAGR (2024 - 2029) | > 20.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Nanocellulose Market Analysis
The Global Nanocellulose Market size is estimated at USD 1.10 billion in 2024, and is expected to reach USD 2.86 billion by 2029, growing at a CAGR of greater than 20% during the forecast period (2024-2029).
With the rising demand from oil and gas, the textile segment is witnessing an increased demand from various application segments, owing to the growing utilization of multiple products.
- Over the short term, the increasing adoption of flexible packaging and the superior properties of nanocellulose are expected to drive the growth of the studied market.
- However, a shortage of consumer awareness and economic barriers are expected to hinder the market's growth.
- Increasing innovation activities, research and development investments, and capacity expansions by manufacturers to capitalize on the broad applicability are expected to unveil new opportunities for the market studied.
- North America dominated the market across the world with the most substantial consumption of nanocellulose.
Nanocellulose Market Trends
The Composites Segment is Expected to Dominate the Market
- The composites segment accounted for the largest application of nanocellulose in 2023, owing to the increased demand for packaging materials and biodegradable plastics, which resulted in increased government support and investment in developing such materials.
- Nanocellulose composites have heavily replaced plastics due to their biodegradable and non-toxic nature. Due to the reduced size of the dispersed phase and its good dispersion in the polymer matrix, these materials exhibit markedly improved properties when compared to pure polymers or their traditional composites.
- Nanocellulose composites play a crucial role in the automotive industry by serving as reinforcing agents in polymer matrices, contributing to lightweight and strong materials, improved mechanical properties, and enhanced sustainability in-vehicle components and manufacturing processes.
- The development of electric vehicles is expected to continue to gain momentum in the future, especially in North America, Europe, and Asia, owing to government programs promoting the move away from fossil fuels.
- According to the Federal Motor Transport Authority (Kraftfahrt-Bundesamt – KBA), the total number of battery electric cars registered in Germany was 1,013,009 in 2023, registering growth compared to previous years data.
- Similarly, as per the General Administration of Customs of the People's Republic of China, China’s overall BEV exports rose by 70% in 2023, reaching USD 34.1 billion.
- With the increasing demand for polymers worldwide and in majorly developing economies such as India, Japan, and Vietnam, the demand for nanocellulose is expected to grow from composite applications in the coming years.
- In India, more than 30 hospital projects, including expansions and new construction projects, are in the planning or construction phase. For instance, the Health City hospital project worth USD 1.4 million is being built by Care Hospitals in the Visakhapatnam district of Andhra Pradesh.
- Therefore, considering these factors, the demand for nanocellulose from the segment studied is expected to grow substantially during the forecast period.
North America is Expected to Dominate the Market
- North America dominates the nanocellulose market. It is expected to continue its dominance during the forecast period.
- Increased infrastructure projects and the renovation of commercial buildings in North America will drive the regional market’s growth for composite applications, mainly due to huge government spending on public infrastructure upgrades.
- Growing regional industries, such as food and beverage, oil and gas, paints and coatings, and construction, are expected to further complement nano cellulose business growth by 2027.
- Oil and gas deals in the United States reached an all-time high of USD 51 billion during the first quarter of 2024. Energy companies have been eager to build up their oil and gas drilling inventories, particularly in the prolific Permian Basin, with a producer break-even cost of around USD 64 per barrel.
- Nanocellulose finds application in the food and beverage industry as a thickening agent, stabilizer, texture enhancer, and in edible coatings, offering benefits such as reduced fat content and extended shelf life for fruits and vegetables, contingent upon regulatory approval for safety in consumption.
- According to the US Census Bureau, the annual sales of retail and food services in the United States amounted to USD 8.33 trillion in 2023 and registered growth compared to USD 8.07 trillion in 2022.
- Similarly, in the paper industry, nanocellulose is utilized to enhance paper properties, offering benefits such as increased strength, improved printability, and reduced environmental impact due to its renewable and sustainable nature.
- According to the Food and Agriculture Organization, the production capacity of paper and paperboard in Canada reached 9,200 thousand metric tons in 2023 and registered the highest production compared to 9,100 thousand metric tons in 2022.
- In September 2023, Laneige, the Korean beauty conglomerate, launched in Mexico. The skincare brand’s expansion into Mexico comes as part of a partnership between the beauty conglomerate and Sephora, Mexico’s leading beauty retailer. According to the company, the brand continues to experience remarkable growth across North America, adding that sales of Laneige in the region increased by 105% during the second quarter of 2023.
- With such growth from various end-user industries, the North American nanocellulose market is expected to grow rapidly during the forecast period, mainly spurred by the United States.
Nanocellulose Industry Overview
The nanocellulose market is consolidated in nature, with the major players (in no particular order) comprising CelluForce, GranBio, Melodea Ltd, CelluComp Ltd, and Borregaard.
Nanocellulose Market Leaders
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CelluForce
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GranBio
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Melodea Ltd.
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Borregaard
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CelluComp Ltd
*Disclaimer: Major Players sorted in no particular order
Nanocellulose Market News
- September 2023: The world’s demand for cooling increased significantly. In particular, ACs and electric fans consume almost 20% of a building's electricity consumption. As a result, research into eco-friendly, sustainable cooling technologies offers promising opportunities to combat global warming and reduce energy consumption. In line with this, a group of researchers from the Nanjing Forestry University in China have developed the nanocellulosic aerogel film to keep buildings cooler.
- May 2022: Norske Skog ASA officially opened the new biocomposite plant at Norske Skog Saugbrugs in Halden, which develops Norske Skog's nanocellulose product CEBINA and commercializes the use of nanocellulose. Through this expansion, the company also strengthened its product portfolio.
Nanocellulose Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Superior Properties of Nanocellulose
4.1.2 Increasing Adoption of Flexible Packaging Aids
4.1.3 Other Drivers
4.2 Restraints
4.2.1 Economic Barriers Hindering Market Growth
4.2.2 Growing Consumer Awareness
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
5.1 End-user Industry
5.1.1 Paper Processing
5.1.2 Paints and Coatings
5.1.3 Oil and Gas
5.1.4 Food and Beverage
5.1.5 Composites
5.1.6 Pharmaceuticals and Cosmetics
5.1.7 Other End-user Industries
5.2 Product Type
5.2.1 Nanofibrillated Cellulose (NFC)
5.2.2 Nanocrystalline Cellulose (NCC)
5.2.3 Bacterial Cellulose
5.2.4 Microfibrillated Cellulose (MFC)
5.2.5 Other Product Types
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 Malaysia
5.3.1.6 Thailand
5.3.1.7 Indonesia
5.3.1.8 Vietnam
5.3.1.9 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 France
5.3.3.4 Italy
5.3.3.5 Spain
5.3.3.6 NORDIC Countries
5.3.3.7 Turkey
5.3.3.8 Russia
5.3.3.9 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Colombia
5.3.4.4 Rest of South America
5.3.5 Middle East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Nigeria
5.3.5.4 Qatar
5.3.5.5 Egypt
5.3.5.6 United Arab Emirates
5.3.5.7 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 GranBio Technologies
6.4.2 Axcelon Biopolymers Corporation
6.4.3 Borregaard
6.4.4 CelluComp
6.4.5 CelluForce
6.4.6 Chuetsu Pulp and Paper Co. Ltd
6.4.7 Daicel Finechem Ltd
6.4.8 Fiberlean Technologies
6.4.9 Melodea Ltd
6.4.10 Nippon Paper Industries Co. Ltd
6.4.11 Norske Skog ASA
6.4.12 Oji Holdings Corporation
6.4.13 Sappi Ltd
6.4.14 University of Maine
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Innovation Activities and R&D Investments
7.2 Capacity Expansions by Manufacturers to Capitalize the Wide Applicability
Nanocellulose Industry Segmentation
Nanocellulose is a light solid substance obtained from plant matter and consists of nanosized cellulose fibers. Nanocellulose has excellent barrier properties, as nanofibers form a dense network held together by inter-fibril solid bonds.
The nanocellulose market is segmented by end-user industry, product type, and geography. By end-user industry, the market is segmented into paper processing, paints and coatings, oil and gas, food and beverage, composites, pharmaceutical and cosmetics, and other end-user industries (packaging, textiles, etc.). By product type, the market is segmented into nanofibrillated cellulose (NFC), nanocrystalline cellulose (NCC), bacterial cellulose, microfibrillated cellulose (MFC), and other product types (tempo oxidized nanocellulose, cellulose nanocomposites, etc.). The report also covers the market sizes and forecasts for the nano cellulose market in 27 countries across major regions. For each segment, the market sizing and forecasts have been done based on revenue (USD).
| End-user Industry | |
| Paper Processing | |
| Paints and Coatings | |
| Oil and Gas | |
| Food and Beverage | |
| Composites | |
| Pharmaceuticals and Cosmetics | |
| Other End-user Industries |
| Product Type | |
| Nanofibrillated Cellulose (NFC) | |
| Nanocrystalline Cellulose (NCC) | |
| Bacterial Cellulose | |
| Microfibrillated Cellulose (MFC) | |
| Other Product Types |
| Geography | |||||||||||
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Nanocellulose Market Research FAQs
How big is the Global Nanocellulose Market?
The Global Nanocellulose Market size is expected to reach USD 1.10 billion in 2024 and grow at a CAGR of greater than 20% to reach USD 2.86 billion by 2029.
What is the current Global Nanocellulose Market size?
In 2024, the Global Nanocellulose Market size is expected to reach USD 1.10 billion.
Who are the key players in Global Nanocellulose Market?
CelluForce, GranBio, Melodea Ltd., Borregaard and CelluComp Ltd are the major companies operating in the Global Nanocellulose Market.
Which is the fastest growing region in Global Nanocellulose Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Nanocellulose Market?
In 2024, the North America accounts for the largest market share in Global Nanocellulose Market.
What years does this Global Nanocellulose Market cover, and what was the market size in 2023?
In 2023, the Global Nanocellulose Market size was estimated at USD 0.88 billion. The report covers the Global Nanocellulose Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Nanocellulose Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Nano Cellulose Industry Report
Statistics for the 2024 Nano Cellulose market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Nano Cellulose analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
