The nanocellulose market is growing in accordance with the growth in demand for bio-based materials in the numerous industries such as packaging and automotive. Factors such as increasing awareness against the use of non-renewable resources and growing demand for specialty paper are inflating the demand for nanocellulose. This market is categorized on the basis of type, raw material, application, and region. Key factors that drive the market include increasing demand for sustainable products with improved material science and growth in the private and government funding in R&D across developed nations. According to MarketsandMarkets, the market size is expected to reach the value of USD 963 million by 2026, at a CAGR of 22.7% during the forecast period.
The nanocellulose market is dominated by few key players including Borregaard (Norway), Nippon Paper Group (Japan), Celluforce Inc. (Canada), Kruger Inc. (Canada), and Fiberlean technologies (UK). Other major players in the market include 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). These players have adopted various growth strategies to expand their presence in the market further. New product launch, expansion, merger, acquisition, agreement, and supply partnerships have been the leading strategies adopted by the major players in the last five years to strengthen their competitiveness and broaden their customer base in the global nanocellulose market.
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Top 2 players in nanocellulose market:
Nippon Paper Group (Japan)
The company is progressing in the market by adopting an acquisition and collaboration strategy. The company has a cellulose nanofiber (CNF) manufacturing plant at Gotsu, Japan. This plant produces CNF to cater to food & cosmetics applications and has a capacity of more than 30 tons. In September 2021, the company signed an agreement with Coca-Cola Japan for conservation and development of forest resources in order to build a sustainable society. It also made an acquisition of Elopak ASA in June 2021 in order to strengthen in position in liquid paper packaging industry.
Stora Enso (Sweden)
is one of the largest producers of microfibrillated cellulose (MFC) in the world. It has adopted various growth strategies, including acquisition and expansion, to maintain its leading position in the nanocellulose market. For example, Stora Enso acquired Cellutech AB (Sweden), a cellulose technology company in October 2018. This acquisition helped the company to develop nanocellulose materials for packaging applications and strengthen its position in the packaging industry. In August 2020, the company scheduled the construction of a new pilot facility at its Fors mill in Sweden for production of cellulose foam. This material could become a breakthrough solution for packaging industry as it will be a lightweight, bio-based solution for protective packaging and cushioning applications.
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