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Global Nanocellulose Market Size

Market Size for 2022-2023

According to the global market research firm Precedence Research, the global nanocellulose market was valued at approximately $200 million (about 260 billion KRW). It is projected to grow at a compound annual growth rate (CAGR) of 22% during the forecast period from 2023 to 2032, reaching an estimated value of about $1.45 billion (around 1.885 trillion KRW) by 2032. Furthermore, in terms of types, Cellulose Nanofibrils (CNF) accounted for a significant revenue share, approximately 54.1%, in the year 2022.

2022-2023 Market Size Graph

Source : Precedenceresearch, nanocellulose market (2022~2032)

Table of Market Size for 2022-2023
Report Coverage Details
Market Size in 2023 USD 0.2 Billion
Market Size by 2032 USD 1.45 Billion
Growth Rate from 2023 to 2032 CAGR of 22%
Pulp & Paper Board Segment Share in 2022 30.6%
CNF Type Segment Share in 2022 54.1%
Segments Covered Product, Application, Region
Nanocellulose Market Size by Segment

Packaging Materials

The global packaging market is substantial, with a valuation of $1.22 trillion (approximately 1,583.72 trillion KRW) in 2023. It is expected to expand to $1.5 trillion (about 1,946.7 trillion KRW) by 2028, growing at a compound annual growth rate (CAGR) of 4.21%. According to the Packaging Technology Center of the Korea Institute of Industrial Technology, the domestic packaging material market in South Korea was valued at 56 trillion KRW in the year 2020.

Global Plastic Packaging Market
Global Plastic Packaging Market

Source : grandviewresearch, plastic packaging market (2022)

Packaging Market by Material
Packaging Market by Material

Source : market research future, packaging market (2022)

Cosmetics

According to a report by the market analysis firm Statista, the size of the global beauty market in 2022 stood at $536.5 billion (approximately 696.9671 trillion KRW). It is expected to demonstrate a steady growth rate of approximately 3.53% (CAGR), reaching a market size of $688.9 billion (approximately 894.9499 trillion KRW) by 2028. In the aftermath of the contraction caused by COVID-19, the cosmetics market is returning to normalcy. In 2022, the domestic (South Korean) market size reached 33 trillion KRW, marking a 6% increase from the previous year. Furthermore, functional cosmetics, known for their emphasized efficacy and effects, accounted for 4.9891 trillion KRW, representing about 20% of the total cosmetics market share.

Structure and Market Size of the Global Beauty Market by Product Category in 2021
Graph of Structure and Market Size of the Global Beauty Market by Product Category in 2021

Source : Statista

Domestic Cosmetic Market Size
Domestic Cosmetic Market Size

Source : Statistics Korea (2023), www.slideshare.net/MezzoMedia(2023 Analysis Report on the Cosmetic Industry)

Automotive Components

According to the data from the global market research firm Deallab, the automotive parts market was valued at $780 billion (approximately 1,014.936 trillion KRW) in 2021, registering a growth of 4% compared to the previous year. It is projected that by 2030, the revenue of the automotive parts market will grow by more than 40%.

Based on the same data, the revenue in the parts industry for the year 2022 was 144.4979 trillion KRW, marking an increase of 6.4% from the previous year. This increase was primarily attributed to the rise in exports and OEM (Original Equipment Manufacturer) deliveries. Specifically, OEM deliveries accounted for 59.935 trillion KRW, the aftermarket (spare parts) contributed 4.1955 trillion KRW, exports were valued at 25.0674 trillion KRW, and the revenue from supplies to module companies like Hyundai Mobis, along with inter-company transactions within the parts industry, totaled approximately 55 trillion KRW.

Ranking of Global Automotive Parts Manufacturers by Market Share
Ranking of Global Automotive Parts Manufacturers by Market Share

Source : Deal Lab(2020)

Yearly Revenue Trends in the Automotive Parts Industry
Table of Yearly Revenue Trends in the Automotive Parts Industry
Category Revenue Performance (in 100 Million KRW) Growth Rate(%)
OEM A/S Exports Other Total
2021 552,215 38,655 216,557 550,000 1,357,427 6.9
2022 599,350 41,955 250,674 553,000 1,444,979 6.4

Source: Korea Automobile Industry Cooperative Association (2022)

Construction

According to the global market research company HIS Markit, the size of the global construction market in 2023 is projected to be $13.8831 trillion (approximately 18,078.5728 trillion KRW), which represents a 2.8% increase from 2022. In this context, the total revenue from the construction sector in South Korea is estimated at $22.7 billion (about 29.5644 trillion KRW), accounting for a market share of 5.7%.

Trends and Outlook for the Global Construction Market Size and Growth Rate
A graph of the size and growth rate of the global construction market and its forecast

Source : HIS Markit (2023)

Lithium-Ion Batteries

The global lithium-ion battery market size was valued at $70 billion (approximately 91.329 trillion KRW) in 2022.

It is expected to grow at a compound annual growth rate (CAGR) of 18.7% from 2023 to 2032, surpassing $387.05 billion (about 505.0615 trillion KRW) by 2032.

Notably, in 2022, the Asia Pacific region accounted for over 49% of the substantial revenue share in this market.

The domestic (South Korean) lithium-ion battery market is projected to grow from 23.314 trillion KRW in 2019 to 63.301 trillion KRW by 2025.

However, according to the Korea Economic Research Institute, in a comprehensive comparison of battery business competitiveness among South Korea, China, and Japan, South Korea is evaluated as having the weakest competitive edge.

2022-2032 Lithium-Ion Battery Market Size
2022-2032 Lithium-Ion Battery Market Size Graph

Source : Precedenceresearch, Lithiumion battery market(2022~2032)

Economic and Industrial Trends & Issues
Graph of economic and industrial trends and issues

Source : Korea National Assembly Budget Office(2020)

Nonwoven Fabric Market Size

Global Market Size

The global market size for eco-friendly textiles in 2018 was estimated to be $37.52 billion, which is approximately 44.2623 trillion KRW.

The eco-friendly textiles market is projected to grow at an annual growth rate of 9.2% up to the year 2025. By then, the market size is expected to surpass $69 billion, which is approximately 81.3993 trillion KRW.

Global Market Size Graph

Source : www.grandviewresearch.com, Research and Market's 'Ecofiber Market Outlook Report.'

Domestic Market Size

As of 2019, the domestic nonwoven fabric's global market share was 2.2%, and it has been declining annually.

With the increase in domestic demand, imports are rising, while exports are decreasing, highlighting the need for a breakthrough in the new nonwoven fabric market.

(Unit: Million Dollars, %)

Table of the size of the domestic market
Rank Country Export Size Global Market Share Average Annual Growth Rate
(2010~2019)
2010 2015 2019 2010 2015 2019
1 China 1,085 2,487 3,114 9.2 17.1 18.6 12.4
2 Germanytd> 1,836 1,904 2,180 15.6 13.1 13.0 1.9
3 USA 1,589 1,806 1,863 13.5 12.4 11.1 1.8
4 Italy 987 1,075 1,232 8.4 7.4 7.4 2.5
... ... ... ... ... ... ... ... ...
10 Taiwan 184 378 388 1.6 2.6 2.3 8.7
... ... ... ... ... ... ... ... ...
13 South Korea 415 401 370 3.5 2.8 2.2 -1.3
World 11,798 14,504 16,722 100.0 100.0 100.0 4.0

Source : UN Comtrade, KIET (Korea Institute for Industrial Economics & Trade) 'Current Status and Policy Challenges of the Domestic Nonwoven Fabric Industry'