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Nanocellulose Market Growing at 33.9% CAGR by 2024 | Key players are Innventia AB, Sappi Ltd., CelluForce Inc, Fpinnovations, American Process Inc, Kruger Inc

Nanocellulose Market

Nanocellulose Market

Global Nanocellulose Market to surpass a billion-dollar frontier by 2024, with an estimated CAGR of 33.9% over 2017-2024. In an era where adoption of renewable, sustainable, and biodegradable energy sources is perpetually promulgated, nanocellulose market stands as a major beneficiary, given that the substance is obtained from plant & wood fibers.

Nanocellulose materials are gaining exceptional traction from biomedical engineering and material science owing to its renewable nature, excellent mechanical properties, anisotropic shape, tailorable surface chemistry, and biocompatibility. On ground of these superior material properties, the R&D sector is exhibiting immense interest in this material to develop greener and sustainable solutions.

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In fact, reports claim that several nanocellulose industry players are increasingly investing in R&D programs to assess the usability of cellulose and nanocellulose materials in myriad range of applications.

A recent instance validating the authenticity of the aforementioned fact is of Mid Sweden University and a research firm MoRe Research that are collaborating with a Norway-based company RISE PFI on the PlastiCel project. According to sources, the project aims to develop new cellulose and nanocellulose based composite materials which can be used as a shield against air, heat, and moisture.

The entire purpose of this project is to offer a strong alternative to plastics which are usually used in packaging sector. If reports are to be believed, cellulose being a biodegradable substance would offer a good alternative to plastic films and insulating foam, in turn leaving a significant impact in reducing the plastics pollution. Industry experts predict that the collaboration between the two renowned parties on development of nanocellulose would, in turn, open huge opportunities for innovation & new product launches in nanocellulose industry.

Growth drivers are -

o Strong product demand across packaging industry
o Rising food & beverage industry across the globe
o Rising demand for technologically advanced sustainable product across various end-user industries

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Global environmental concerns pertaining to reduction of carbon footprints has been one of the most pivotal factors uplifting nanocellulose demand from packaging sector. Imposition of stringent regulations via regulatory bodies to rule out the usage of non-biodegradable packaging materials especially in the food & beverages industry has been the significant driving force behind nanocellulose industry expansion.

On this note, it is prudent to mention that nanocellulose, as a food packaging material in this growing sector exerts lucrative investment opportunities, given the material's ability to extend shelf life & preserve food. Incorporation of nanocellulose into polymer films is in fact, attracting much attention within the F&B industry, chiefly on the cusp of increasing consumer demand for preservative-free and minimally processed products.

Taking into consideration these facts, it goes without saying that nanocellulose has emerged as a viable alternative that can improve environmental footprint of several industries by replacing petrochemical-based or synthetic materials.

A study conducted by the Global Greenhouse Gas Emissions states that around 10.5% of the environmental pollution is due to fossil fuel retrieval, processing and distribution, while over 18.5% is due to industrial processes. Owing to these environmental concerns, the benefits of nanocellulose-based packaging materials have been considered at a wider scale. Allegedly, the long-term use of such materials for packaging could, in turn, help combat the costs, unsustainability, and disposing challenges that the industry usually faces.

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Nanocellulose demand from the food industry is not only witnessed across the packaging sector but also as an important ingredient that is used as low-calorie substitute for carbohydrates additives, thickener, flavor carrier, and suspension stabilizer in food products.

In fact, estimates claim that nanocellulose market accounted over USD 7.5 million from the food applications in 2016 and is further anticipated to garner hefty proceeds in the coming years. Apart from food industry, composites, cement, automobile, hygiene and textile are also some sectors that are poised to hold high adoption potential down the line.

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