According to the new market research report "Nanocellulose Market by Type (MFC & NFC, CNC/NCC), Raw Material (Wood, Non-Wood), Application (Pulp & Paper, Composites, Biomedical & Pharmaceuticals, Electronics & Sensors), Andregion ( North America, APAC, Europe, Row) - Global Forecast to 2026" The global nanocellulose market is expected to grow from USD 346 million in 2021 to USD 963 million by 2026, at a CAGR of 22.7%. The focus of electronics and automotive manufacturers to reduce the weight and size of their offerings while maintaining the sustainability is expected to further accentuate the demand for nanocellulose based composites in the near future.
Europe is the largest market for nanocellulose. The competitive and diversified industrial sector is supporting the growth of the nanocellulose market in Europe. The increasing consumption of nanocellulose is also influenced by the excellent business environment and a strict regulatory framework of the region. The regulation on usage of single-use packaging products have shifted the demand towards sustainable materials for manufacturing packaging products, thus resulting in the pulp & paper and composites applications being the significant shareholders in the region.
