Nanocellulose Market Size 2023

The market for nanocellulose was valued at USD 44 million in 2023 and is projected to reach USD 106 million by 2033. This growth rate is 22.7%

NEW YORK CITY, NEW YORK, UNITED STATES, January 10, 2023 /EINPresswire.com/ -- To create light and white papers, the pulp & paper industry heavily uses Nanocellulose Market. This further accelerates the market growth. Nanocellulose is used in medical applications, such as personal hygiene products and biomedicines. Nanocellulose is also a good choice for wound dressings and hygiene napkins because of its high adsorption ability. The market was further stimulated through increased product research.

The market for nanocellulose was valued at USD 44 million in 2023 and is projected to reach USD 106 million by 2033. This growth rate is 22.7%

Recent Trends:

It is a vital trend to increase R&D activities in order to enhance the characteristics of existing nanocellulose products.

Many research groups are focused on two key trends: the search for new technologies and the improvement of existing products. These materials will be used extensively in the future due to the growing food & beverage industry and increasing health concerns. The market is pursuing the development and application of cellulose nanomaterials.

This would increase the health benefits associated with functional foods. However, cosmetics manufacturers are investing heavily in natural products that could replace traditional chemical-based products. This is why they are increasing the use of
microfibrillated cellulose (MFC).

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FACTORS IMPORTANT FOR DRIVERS:

Demand is driven by increasing concerns about sustainability in the packaging industry According to the U.S. Environmental Protection Agency containers and packaging make up 28.1% of total municipal solid refuse generated in the U.S. It accounts for 82.2 million tons of solid waste. Most of this waste ends up in landfills. Many packaging products are made with plastics, paper & boards, or metals. They are not recyclable and degradable.

The concept of active packaging techniques has gained traction to improve sustainability in the packaging sector. These include the incorporation of nanoparticles within polymers. This innovation improves packaging products' properties and solves the recycling problem. The high resistance to microbes has seen a rapid increase in demand for these composite packaging materials from the food industry. This will increase the demand for cellulosic-based nanomaterials.

Nanocellulose is used to enhance the physicochemical properties of textiles and nonwovens. Cellulose nanofibrils can be considered one of the most innovative materials for the manufacture of textile products because of their physicochemical characteristics.

These nanomaterials can be recycled and found naturally. They are also highly flexible, strong, chemically inert, have low coefficients of thermal expansion, and have the ability to change their surface chemistry. These properties are driving the market for nanocellulose, as textile and nonwovens producers combine their traditional textiles with nanofibrils.

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RESTRAINING ACTORS:

Market Growth May be hindered by the high cost of production There are many other materials that can perform the same functions as these materials, and at a significantly lower cost. Metal additives, for example, alter the properties of plastic composites like nanocellulose but at a fraction of the cost.

The unregulated harvesting of wood to meet growing demand could also accelerate global forest destruction. To ensure a steady supply of wood, monoculture must be regulated. This will increase manufacturing costs. High production costs limit the market's potential growth.

Recent Developments:

Borregaard bought 24.99% of Alginor ASA shares in July 2021. The total investment was approximately NOK 144 million.

Nippon Paper Industries Co. Ltd. bought Elopak ASA in Norway in June 2021 to improve its position within the liquid paper packaging market.

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