diff --git a/cpp/CMakeLists.txt b/cpp/CMakeLists.txt
index 136f43ee706..f7a5dd2f2fb 100644
--- a/cpp/CMakeLists.txt
+++ b/cpp/CMakeLists.txt
@@ -52,6 +52,7 @@ option(JITIFY_USE_CACHE "Use a file cache for JIT compiled kernels" ON)
 option(CUDF_BUILD_TESTUTIL "Whether to build the test utilities contained in libcudf" ON)
 mark_as_advanced(CUDF_BUILD_TESTUTIL)
 option(CUDF_USE_PROPRIETARY_NVCOMP "Download and use NVCOMP with proprietary extensions" ON)
+option(CUDF_EXPORT_NVCOMP "Export NVCOMP as a dependency" ON)
 option(CUDF_LARGE_STRINGS_DISABLED "Build with large string support disabled" OFF)
 mark_as_advanced(CUDF_LARGE_STRINGS_DISABLED)
 option(
diff --git a/cpp/cmake/thirdparty/get_nvcomp.cmake b/cpp/cmake/thirdparty/get_nvcomp.cmake
index 1b6a1730161..33b1b45fb44 100644
--- a/cpp/cmake/thirdparty/get_nvcomp.cmake
+++ b/cpp/cmake/thirdparty/get_nvcomp.cmake
@@ -16,7 +16,11 @@
 function(find_and_configure_nvcomp)
 
   include(${rapids-cmake-dir}/cpm/nvcomp.cmake)
-  rapids_cpm_nvcomp(USE_PROPRIETARY_BINARY ${CUDF_USE_PROPRIETARY_NVCOMP})
+  set(export_args)
+  if(CUDF_EXPORT_NVCOMP)
+    set(export_args BUILD_EXPORT_SET cudf-exports INSTALL_EXPORT_SET cudf-exports)
+  endif()
+  rapids_cpm_nvcomp(${export_args} USE_PROPRIETARY_BINARY ${CUDF_USE_PROPRIETARY_NVCOMP})
 
   # Per-thread default stream
   if(TARGET nvcomp AND CUDF_USE_PER_THREAD_DEFAULT_STREAM)
diff --git a/python/libcudf/CMakeLists.txt b/python/libcudf/CMakeLists.txt
index 2b208e2e021..5f9a04d3cee 100644
--- a/python/libcudf/CMakeLists.txt
+++ b/python/libcudf/CMakeLists.txt
@@ -41,6 +41,9 @@ set(BUILD_TESTS OFF)
 set(BUILD_BENCHMARKS OFF)
 set(CUDF_BUILD_TESTUTIL OFF)
 set(CUDF_BUILD_STREAMS_TEST_UTIL OFF)
+if(USE_NVCOMP_RUNTIME_WHEEL)
+  set(CUDF_EXPORT_NVCOMP OFF)
+endif()
 set(CUDA_STATIC_RUNTIME ON)
 
 set(CMAKE_LIBRARY_OUTPUT_DIRECTORY ${PROJECT_BINARY_DIR}/lib)