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.
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.
By type, the MFC & NFC segment accounted for the highest share of nanocellulose market during 2022 to 2030.
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.