Northbrook, IL -- (SBWire) -- 11/19/2021 --The report "Nanocellulose Market by Type (MFC & NFC, CNC/NCC, and Others), Application (Pulp&paper, composites, biomedical & pharmaceutical, electronics & sensors, and others), Region (Europe, North America, APAC, and Rest of World) - Global Forecast to 2025", The nanocellulose market is expected to grow from USD 297 million in 2020 to USD 783 million by 2025, at a CAGR of 21.3%. The major factors driving the nanocellulose market include growth in the sustainable products demand and increasing funding for nanocellulose R&D from government & private sectors of developed nations.
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MFC & NFC is projected to lead the global nanocellulose market during the forecast period.
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. The demand for MFC & NFC is the highest as they provide various advantages such as material efficiency, strength enhancement, lightweight and renewable barrier 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 2019. 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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Europe is the leading nanocellulose market.
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 significant applications of nanocellulose in the region are pulp & paper and composites.
The major vendors in the nanocellulose 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).
Recent Developments :
- In October 2018, Stora Enso (Finland) acquired Cellutech AB (Sweden), a cellulose technology company. This acquisition helped the company to develop nanocellulose materials for packaging applications and strengthen its position in the packaging industry.
- In April 2017, American Process Inc. (US), Will & Co (Netherlands), and P.R.G. (Netherlands) agreed to develop, manufacture jointly, and supply nanocellulose reinforced thermoplastic compounds which would offer characteristics such as enhanced mechanical properties. These compounds would help in catering to the demand of European based customers for conventional and biobased plastic compounds.
- In November 2016, Celluforce (Canada) signed a partnership agreement with Fibria, a Brazilian based Forestry company. With this partnership, Fibria acquired the rights to sell Celluforce products in South America. It also got the right to partner with Celluforce to build CNC facilities in South America.
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Nanocellulose Market Worth $783 Million by 2025 - Exclusive Report by MarketsandMarkets™
The major vendors in the nanocellulose 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).