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Global Nanocellulose Market Size
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Nanocellulose Market Size by Segment
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Nonwoven Fabric Market Size
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.
Source : Precedenceresearch, nanocellulose market (2022~2032)
Report Coverage | Details |
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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.
Source : grandviewresearch, plastic packaging market (2022)
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.
Source : Statista
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.
Source : Deal Lab(2020)
Category | Revenue Performance (in 100 Million KRW) | Growth Rate(%) | ||||
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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%.
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.
Source : Precedenceresearch, Lithiumion battery market(2022~2032)
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.
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, %)
Rank | Country | Export Size | Global Market Share | Average Annual Growth Rate (2010~2019) |
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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'