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(Medical-NewsWire.com, May 03, 2024 ) 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 " The 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% during the forecast period.
Browse in-depth TOC on "Nanocellulose Market”
201 - Market Data Tables
47 - Figures
192 - Pages
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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.
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.
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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.
Nanocellulose Market Key Players
Companies such as FiberLean Technologies (UK), Borregaard (Norway), Nippon Paper Industries (Japan), CelluForce Inc. (Canada), Kruger Inc. (Canada) fall under the winners’ category. These are leading players in the nanocellulose market, globally. These players have adopted the strategies of investments, expansions, product launches, mergers and acquisitions, partnerships, raising funds, and agreements to fulfil the rising demand for nanocellulose on the regional as well as global levels.
Kruger Inc. develops innovative solutions for pulp & paper, containerboard, and packaging applications. The company’s is a major player in renewable energy, tissue products, wines and spirits, and recycling. It has a nanocellulose manufacturing plant in Canada. In June 2022, Kruger Specialty Papers Holding, Kruger’s affiliate, has acquired Domtar’s pulp mill that manufactures northern bleached softwood kraft pulp (NBSK) and unbleached softwood kraft pulp in Kamloops, British Columbia.
Nippon Paper Industries offers nanocellulose through its Chemical division under the Daily-life Products segment. The company’s products are used in various applications from pulping to nano-sizing. It offers nanocellulose technology for cosmetics, pulp & paper, tire, healthcare, and food industries. In September 2021, Nippon Paper Industries and Coca-Cola Japan collaborated to build a sustainable society and conserve forests.
FiberLean Technologies is one of the leading company in microfibrillated cellulose (MFC). The company offers MFC technology to several industries, such as paper & pulp, packaging, and engineered solutions. In March 2021, Werhahn KG Group has acquired 100% ownership of FiberLean Technologies. Building materials, consumer goods, and financial services are the main businesses of Werhahn KG Group.
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