Chicago, June 29, 2022 (GLOBE NEWSWIRE) -- According to the new market research report "Nanocellulose Market by Type (MFC & NFC, CNC/NCC), Raw Material (Wood, Non-Wood), Application (Pulp & Paper, Composites, Biomedical & Pharmaceuticals, Electronics & Sensors), Andregion ( North America, APAC, Europe, Row) - Global Forecast to 2026" The global nanocellulose market is expected to grow from USD 346 million in 2021 to USD 963 million by 2026, at a CAGR of 22.7%. The focus of electronics and automotive manufacturers to reduce the weight and size of their offerings while maintaining the sustainability is expected to further accentuate the demand for nanocellulose based composites in the near future.
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Browse in-depth TOC on “Nanocellulose Market”
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High strength-to-weight ratio imparted by MFC & NFC results in the type holding the largest market share
Based on type, the nanocellulose market has been segmented into three types, namely, MFC & NFC, CNC/NCC, and others. MFC & NFC is projected to lead the global nanocellulose market during the forecast period (2021-2026). The demand for MFC & NFC is the highest as they provide various advantages such as material efficiency, strength enhancement, lightweight and renewable barrier characteristic materials. In addition, fibrous content of MFC & NFC increases the strength of green electronics produced, which may result in inflated demand for product from the electronics industry as they move from traditional non-renewable materials for circuit manufacturing to sustainable materials.
Pulp & paper applications accounted for the largest share in the overall nanocellulose market in 2019.
The nanocellulose market has been segmented based on application into five categories, namely, pulp & paper, composites, biomedical & pharmaceuticals, electronics & sensors, and others. Among these applications, the pulp & paper application accounted for the largest market share in 2020. Nanocellulose helps to increases the absorbency of several paper products and helps to cut down the overall production cost. This is driving the market for nanocellulose in the pulp & paper segment.
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Stringent environmental regulatory framework driving the demand for nanocellulose in Europe
Europe is the largest market for nanocellulose. The competitive and diversified industrial sector is supporting the growth of the nanocellulose market in Europe. The increasing consumption of nanocellulose is also influenced by the excellent business environment and a strict regulatory framework of the region. The regulation on usage of single-use packaging products have shifted the demand towards sustainable materials for manufacturing packaging products, thus resulting in the pulp & paper and composites applications being the significant shareholders in the region.
Major players in 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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Study Coverage
This research report categorizes the Nanocellulose Market based on type, Raw Material, Application and region. Based on type, Nanocellulose Market is segmented into MFC & NFC, CNC/NCC. By Raw Material, the market has been segmented into Wood, Non-Wood. By Application Pulp & Paper, Composites, Biomedical & Pharmaceuticals, Electronics & Sensors. Based on region, Nanocellulose Market is segmented into North America, APAC, Europe, Row. A detailed analysis of the key industry players has been done to provide insights into their business overviews; solutions and services; key strategies; new product launches; mergers; and partnerships, agreements, and collaborations; and recent developments associated with the Nanocellulose Market.
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