Nanocellulose Materials Market to Garner $2.2 Billion, Globally, By 2031 at 20.1% CAGR, Says Allied Market Research

Growing demand from the pulp and paper industry drive the growth of the global nanocellulose materials market.

PORTLAND, Ore., Feb. 16, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Nanocellulose Materials Market by Type (Cellulose Nanofibrils (CNF), Cellulose Nanocrystals (CNC), Bacterial Cellulose (BC), Micro Fibrillated Cellulose (MFC), And Others), by Application (Pulp & Paper, Composites, Pharmaceutical & Biomedical, Electronics, Food & Beverage, Personal Care & Cosmetics, and Others), and Region (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2031" According to the report, the global nanocellulose materials industry generated $0.4 billion in 2021 and is estimated to reach $2.2 billion by 2031, witnessing a CAGR of 20.1% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.

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Drivers, Restraints, and Opportunities-

Growing demand from pulp and paper industry drives the growth of the global nanocellulose materials market. On the other hand, high production cost impede the growth to some extent. However, growing interest in nanocellulose 3D printing is expected to create lucrative opportunities in the industry.

Covid-19 scenario-

• The COVID-19 pandemic has had a negative impact on the nanocellulose materials market, leading to a decline in demand for oil and gas, construction limits, and reduced manufacturing.
• However, the increasing demand for textiles and nonwoven products, such as masks and sanitary tissues, has raised the demand for nanocellulose materials. This has led to the need for bio-based materials in composites and packaging products, particularly in the paper and pulp sectors.

The small rings segment to rule the roost-

By type, the cellulose nanofibrils held the major share in 2021. The cellulose nanocrystals segment would also showcase the fastest CAGR of 20.8% during the forecast period. Cellulose nanofibrils (CNFs) are renewable and biodegradable natural-based nanomaterial and are produced by mechanical fibrillation, which includes homogenization, and micro fluidization of cellulose biomass, thus driving the segment growth.

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The oil and gas segment to maintain its dominance during the forecast period-

By application, the pulp and paper segment contributed to the highest share in 2021. The composites segment would also showcase the fastest CAGR of 21.4% throughout the forecast period. This is attributed to the fact that nanocellulose paper (NCP), produced mechanically or chemically from wood, cotton, and other cellulose-rich materials, has excellent properties as a flexible substrate for optoelectronic devices, including appropriate mechanical strength, thermal and chemical stability, and high transparency and low surface roughness

Asia-Pacific garnered the major share in 2021-

By region, Asia-Pacific garnered the highest share in 2021 and is projected to retain its dominance by 2031. The same region would also portray the fastest CAGR of 5.95% during the forecast period. Nanocelluloses can be utilized in Asia-Pacific as formulation modifiers, moisturizers, nanofillers, additives, membranes, and films. Nanocellulose composite particles have recently been produced as carriers for bioactive chemicals or UV-blockers, as well as platforms for wound healing and skin sensors.

Leading Market Players-

• SAPPI
• NIPPON PAPER INDUSTRIES CO., LTD.
• GRANBIO
• DKS CO. LTD.
• KAO CORPORATION
• SEIKO PMC CORPORATION
• CELLUFORCE
• KRUGER INC.
• ANOMERA, INC.
• ANPOLY INC.

The report analyzes these key players in the global nanocellulose materials market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.

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