The global nanocellulose market is projected to grow from USD 0.4 billion in 2022 to USD 2.0 billion by 2030, at a CAGR of 21.9% from 2022 to 2030. Increasing investments in R&D activities by government and private organizations and growing demand for sustainable products with improved material science are expected to drive the nanocellulose market.
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The MFC & NFC segment, by type of nanocellulose market is projected to be the fastest-growing segment during 2022 to 2030. MFC & NFC has lower prices and possess various advantages, such as material efficiency, strength enhancement, light-weighting, and renewable barrier materials.
Wood segment, by raw material of nanocellulose market is projected to be the fastest-growing segment during 2022 to 2030. The cost of the production of nanocellulose from wood is quite lower than that of other sources. Wood is a renewable resource and the most abundant material on earth, and plants can be easily cultivated for commercial purposes.
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The composites segment, by application of nanocellulose market is projected to the fastest-growing segment during 2022 to 2030. Nanocellulose can be used as a filler or reinforcement in composite materials. Many composite applications of nanocellulose, such as coatings and films, foams, paints, and packaging, are currently under study.
Europe is projected to be the fastest-growing market for nanocellulose during the forecast period. The industries in Europe are working on sustainable products and promising recyclable material solutions which is driving the growth of nanocellulose products and materials in the region. Most of the demand for nanocellulose materials is from Europe’s pulp & paper and composites & packaging industries.
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The major players in the nanocellulose market include Fiberlean Technologies (UK), Borregaard (Norway), Nippon Paper Industries (Japan), Celluforce Inc. (Canada), Kruger Inc. (Canada), Stora Enso (Finland), RISE Innventia (Sweden), American Process Inc. (US), FPInnovations (Canada), and UPM (Finland) and others.
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