Nanocellulose Market worth $2.0 billion by 2030 | Key players Fiberlean Technologies (UK), Borregaard (Norway), Nippon Paper Industries (Japan), Celluforce Inc. (Canada)

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.

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The MFC & NFC segment, by type, market accounted highest share. MFC & NFC are used for wide range of applications. MFC is used as a strength enhancer in fiber-based materials such as textiles and paper and has the potential to provide high-performing, low-weight material with reduced usage of non-renewable chemicals and improved product processes. NFC has huge potential to be used as a barrier material in food packaging applications due to its excellent oxygen barrier properties.

The wood segment, by raw material, market accounted highest share. The processing of wood to nanocellulose is easy compared to other raw materials. Wood is a fibrous material and it is largely employed for the manufacturing of MFCs and NFCs.

The paper & pulp segment, by application, market accounted highest share. Nanocellulose helps increase the absorbency of paper products such as napkins and ketch towels. When nanocellulose is used in paper production, it helps cut the overall production cost, provides higher printing quality, reduces porosity, and is less translucent.

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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 (Norway), Stora Enso (Finland), Rise Innventia (Sweden), and UPM (Finland).

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).

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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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