Global Trends and Insights on the Cellulose Nanofibrils Market: A 2034 Forecast Report
The market for cellulose nanofibrils was estimated to be worth US$ 242.7 million in 2023 and is expected to grow at a notable compound annual growth rate (CAGR) of 9.2% to reach US$ 638.9 million by 2034.
The growing need for more environmentally friendly and biodegradable materials across a range of industries is expected to propel the global market for cellulose nanofibrils (CNF) to significant growth. In response to the increasing call for industries to become more "green," CNFs are one such multipurpose solution that effectively satisfies current demands.
Packaging, automotive, aerospace, and construction industries greatly benefit from CNFs' extraordinarily high mechanical strength, low density, and thermal stability. Particularly, solid CNFs are favoured due to their simplicity in incorporating into existing industrial procedures, which makes the material effective in handling, storage, and product performance. In the car industry, these materials help create lightweight composite constructions that increase fuel efficiency and lower emissions.
Within the U.S., the CNF market is gathering pace, with firms putting more emphasis on sustainability on account of strict environmental policies and consumerist preferences. This, therefore, results in an increased application of CNF-based products for packaging, where they are felt to be among the available options for plastics, using the trend of turning eco-friendly.
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Key Takeaways from the Market Study:
- The global Cellulose Nanofibrils market is projected to grow at 9.2% CAGR and reach US$ 638.9 million by 2034
- The market created an opportunity of US$ 373.9 million growing at a CAGR of 9.2% between 2024 to 2034.
- North America is a prominent region that is estimated to hold a market share of 15.3% in 2034
- Predominating market players include UPM, Daicel Corporation, and Nippon Paper Industries.
- Solid segment under form is estimated to grow at a CAGR of 9.4% creating an absolute $ opportunity of US$ 261.6 million between 2024 and 2034
- North America and East Asia are expected to create an absolute $ opportunity of US$ 109.3 million collectively.
“The cellulose nanofibril market is expanding rapidly due to the rising demand for biodegradable packaging and eco-friendly textiles, presenting significant growth opportunities,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Cellulose Nanofibrils Market:
Key industry participants like UPM; Daicel Corporation; Nippon Paper Industries; Kruger Inc.; J. Rettenmaier & Söhne GmbH; American Process Inc.; Engineered Fibers Technology, LLC; Asahi Kasei; Marusumi Paper Company; Ojio Holding; Other Prominent Players are driving the cellulose nanofibrils industry.
Market Development:
Since most markets are in desperate need of eco-friendly, biodegradable materials in a variety of industrial divisions, CNF has enormous growth potential. Manufacturers are looking for alternatives to conventional plastics and fibres as a result of growing environmental consciousness. Additionally, as manufacturing technology has advanced, CNF's efficiency and scalability have increased steadily, making it a particularly appealing choice for applications in packaging, textiles, and bio-composite materials.
Collaborations between industry and research institutions are essential to the commercialisation of CNF. Cooperation in nanotechnology contributes to the special qualities of CNF. With a growing market, CNF is emerging as a key raw material for creating a variety of eco-friendly products. As a result, CNF is one of the major players in sustainable material solutions, which benefits both the sectors and the greener economy.
With funding from the Korea International Cooperation Agency (KOICA), Hanoi University of Science and Technology developed the CelluFAB-SCE Nanocellulose and Application Research Centre. In order to create environmentally friendly products, the centre will concentrate on studying and creating nanocellulose technology from bagasse and other wood and non-timber materials. With the long-term objective of drastically lowering the greenhouse effect, the project seeks to lower carbon emissions and support sustainable development.
More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the global Cellulose Nanofibrils Market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights based on the Global Cellulose Nanofibrils Market Analysis, By Form (Liquid, Solid, Gel), By Application (Composites and Packaging, Pulp and Paper, Rheology Modifiers, Coatings and Adhesives, 3D Films and Printing, Biomedical Applications, Textiles and Nonwovens, Construction Materials, and Others), and across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, and Pacific, Middle East & Africa).
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