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Nanocellulose Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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    Report

  • 150 Pages
  • August 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 4745453
The global nanocellulose market is estimated to be valued at USD 756.80 million in 2022 and is expected to register a CAGR of 21.56% during the forecast period of 2022-2027. The market was negatively affected due to COVID-19. Manufacturing activities were halted due to supply chain disruptions and labor shortages or as a protective measure to stop the spread of the virus, thereby negatively affecting the market.

Key Highlights

  • The superior properties of nanocellulose and increasing adoption of flexible packaging aids are likely to drive the growth of the nano cellulose market.
  • On the flip side, a shortage of consumer awareness and economic barriers are expected to hinder the market's growth.
  • The product's demand decreased in several end-use sectors, especially in the paper processing industry. Nonetheless, conditions are improving in 2022, restoring the industry's development trajectory and benefiting the market during the forecast period.
  • Increasing innovation activities and R&D investments, and capacity expansion by manufacturers to capitalize on the wide applicability are expected to unveil new opportunities for the market studied.

Key Market Trends


Composites Segment to Dominate the Market

  • The composites segment accounted for the largest application of nanocellulose in 2021. This is owing to the increased demand for packaging materials and biodegradable plastics, which has resulted in increased government support and investment in the development of such materials.
  • The demand for nanocellulose has lately increased in composites applications, owing to its excellent reinforcement properties in polymers. Nanocellulose is used as a component in polymeric nanocomposites. Cellulose-based nanocomposites are renewable since they are made of small plant material fibers and have outstanding mechanical properties.
  • Nanocellulose composites have heavily replaced plastics due to their bio-degradable 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.
  • According to EV Volumes, global EV sales reached 6.75 million units in 2021, registering a growth of 108% compared to 32.4 million in 2020. Of the 6.75 million EVs sold in 2021, 3.4 million EVs were sold in 2021 to mainland China, 2.3 million EVs were sold in Europe, and 0.7 million were in the United States. Moreover, the share of EVs (BEV & PHEV) in global light vehicle sales was 8.3 %, compared to 4.2 % in 2020.
  • Furthermore, 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.
  • The demand for nanocellulose is expected to witness a massive increase in the coming years from the composites applications. Therefore, considering the aforementioned factors, the demand for nanocellulose in the segment studied is expected to grow substantially during the forecast period.


North America to Dominate the Market

  • North America dominated the market with a share of over 40% in 2021, and it is expected to continue its dominance during the forecast period. The massive forecasted size is mainly accredited to technological developments in this region.
  • Increased infrastructure projects, as well as the renovation of the commercial buildings in North America, will drive regional nanocellulose market growth for composite applications. This is mainly owing to huge government spending on public infrastructure upgrades.
  • Growing industries like food & beverage, oil & gas, paints & coatings, etc., in the region, will further complement noanocellulose business growth by 2027. For instance, as per the data released by The International Energy Agency (IEA), by 2024, the United States will be exporting more oil than Russia and will account for 85% of the rise in world oil production shortly.
  • In the United States, there is a growing need for nanocellulose to produce high-strength cement and building composites. Furthermore, the increase in health concerns among the United States population is leading to the huge demand for the CNF and MFC to produce functional food products.
  • Rising demand from aerospace and pharmaceuticals is boosting the market demand. For instance, according to the Federal Aviation Administration (FAA), the total commercial aircraft fleet is expected to reach 9,421 in 2040 from 7,628 in 2019, owing to the growth in air cargo. Additionally, the US mainliner carrier fleet is expected to grow at 44 aircraft per year as the existing fleet is getting older.
  • The United States is the largest market for biopharmaceuticals, accounting for around one-third of the global market. The country is the world leader in biopharmaceutical R&D. As it has the world's most supportive domestic environments for the development and commercialization of pharmaceuticals with negligible market barriers, the production of pharmaceuticals in the country is expected to increase during the forecast period.
  • Additionally, scientists from the Nanyang Technological University, Singapore (NTU Singapore) and Harvard University (the United States) announced the discovery of the fat-blocking effects offered by nanocellulose fibers. This invention may open up vast opportunities for the growth in demand for nanocellulose fibers for healthcare and cosmetic applications.
  • DeLeon Cosmetics was founded to develop cosmetic products from natural ingredients, exerting anti-aging properties. All the products manufactured by the company are produced in the United States at its Tallahassee, Florida facility.
  • With such growth from various end-user industries, the North American nanocellulose market is expected to grow rapidly during the forecast period, majorly spurred by the United States.


Competitive Landscape


The nanocellulose market is consolidated. Key players in the nanocellulose market include CelluForce, GranBio, Melodea Ltd, Oji Holdings Corporation, and Borregaard, among others.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support


This product will be delivered within 2 business days.

Table of Contents

1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Superior Properties of Nanocellulose
4.1.2 Increasing Adoption of Flexible Packaging Aids
4.2 Restraints
4.2.1 Economic Barriers Hindering the Market Growth
4.2.2 Dearth of 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
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 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 Nordic Countries
5.3.3.4 France
5.3.3.5 Rest of Europe
5.3.4 Rest of World
5.3.4.1 South Africa
5.3.4.2 Saudi Arabia
5.3.4.3 Brazil
5.3.4.4 Other Countries
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share(%) **/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 & 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
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Innovation Activities and R&D Investments
7.2 Capacity expansion by Manufacturers to Capitalize the Wide Applicability

Samples

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Companies Mentioned

A selection of companies mentioned in this report includes:

  • GranBio Technologies
  • Axcelon Biopolymers Corporation
  • Borregaard
  • CelluComp
  • CelluForce
  • Chuetsu Pulp & Paper Co. Ltd
  • Daicel Finechem Ltd
  • Fiberlean Technologies
  • Melodea Ltd
  • Nippon Paper Industries Co. Ltd
  • Norske Skog ASA
  • Oji Holdings Corporation
  • Sappi Ltd
  • University of Maine

Methodology

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