The global nanocellulose market is expected to witness high growth during the forecast period owing to the increasing investments in R&D activities by private organizations as well as governments of developed nations and growing demand for sustainable products with improved material science. Nanocellulose has high demand from pulp & paper and composites applications. MarketsandMarkets projects the global nanocellulose market to grow from USD 297 million in 2020 to USD 783 million by 2025, at a CAGR of 21.3%.
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MFC & NFC is the fastest-growing nanocellulose type in the overall market. Owing to lower prices and widespread applications of MFC & NFC, the segment has experienced rapid growth in recent years. They possess various advantages, such as material efficiency, strength enhancement, light-weighting, and renewable barrier materials. The other types of nanocellulose currently have small shares but are projected to witness significant growth in the coming years.
The composites are the fastest-growing application in the overall nanocellulose market. Nanocellulose improves the mechanical properties of the composite material. CNC help to increases reinforcement capacity in composite materials owing to their higher aspect ratio. Moreover, the ability of CNC to create aerogels and structural foams is expected to result in the development of lightweight decorative and interior panels such as dashboards and door panels
Europe is the fastest-growing market for nanocellulose owing to the region’s large pulp & paper industry. The industry in the region is energy and raw materials intensive, with high capital costs and long investment cycles. It is a pioneer in making Europe a low-carbon bio-economy. Moreover, the need for sustainable products and the increasing need for promising innovations are also driving the demand for nanocellulose-based materials in the region.
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The major players in the market include Fiberlean technologies (UK), Borregard (Norway), Nippon Paper Industries (Japan), Celluforce INC (Canada), Kruger INC (Canada), Stora Enso (Finland), Rise Innventia (Sweden), American Process Inc. (US), FPInnovations (Canada), UPM-Kymmene Oyj (Finland), Melodea (Israel), Cellucomp (Scotland), Blue Goose Refineries (Canada), Oji Holdings Corporation (Japan), VTT (Finland), and Sappi (South Africa).
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