The report “Nanocellulose Market by Type (MFC & NFC, CNC/NCC), Raw Material (Wood, Non-wood), Application (Paper & Pulp, Composites, Paints & Coatings, Biomedical & Pharmaceuticals, Electronics & Sensors), and Region – Global Forecast to 2030”, is expected to grow from USD 0.4 billion in 2022 to USD 2.0 billion by 2030, at a CAGR of 21.9%. The major factors driving the nanocellulose market include growth of major applications such as paper & pulp, composites, paints & coatings, biomedical & pharmaceuticals, among others.
Some of the prominent key players are:
· Fiberlean Technologies (UK)
· Borregaard (Norway)
· Nippon Paper Group (Japan)
· Celluforce Inc. (Canada)
· Kruger Inc. (Canada)
· tora Enso (Finland)
· RISE Innventia (Sweden)
Opportunity: Focus on weight reduction of vehicles
Nanocellulose finds application in automotive industry. In the automotive industry, one of the main goals is to replace heavy steel structures in cars, such as set frames, with advanced reinforced polymers that have cost parity with traditional materials. Nanocellulose helps in reducing the weight of interior components of vehicles and can lead to major weight reductions.
Europe is the largest region in the Nanocellulose market.
Good business environment and strict regulatory framework supporting sustainable operations is the major driving factor of nanocellulose market in the region. The region has various key nanocellulose manufacturers such as FiberLean Technologies (UK), Borregard (Nor way), Stora Enso (Finland), Rise Innventia (Sweden), and UPM (Finland).
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