(PharmaNewsWire.Com, September 08, 2022 ) The global Nanocellulose Market in terms of value, is expected to reach USD 963 million by 2026, expanding at a CAGR of 22.7%. The 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. The market is classified on the basis of type, raw material, application, and region.
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 such as bacterial nanocellulose and tunic 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 increase 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 automotive components 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 is energy and raw materials intensive, with high capital costs and long investment cycles. However, it has been the pioneer in making Europe a low-carbon bio-economy. With the new environment-supporting regulations in the EU, the need for sustainable products and promising recyclable material solutions is expected to expand, thus driving the growth of nanocellulose-based materials in the region.
The major players in the nanocellulose market include Fiberlean Technologies (UK), Borregaard (Norway), Nippon Paper Group (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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