Japan has the second-highest forest-to-land ratio in the world, with 70% of its land covered by trees. The Japanese government has attempted to take advantage of this by actively promoting the development of new products through cellulose nanofiber (CNF) research incentivized by the Japan Revitalization Strategy 2014. Government projects for CNF applications have exceeded more than $30 million in individual industries, and the market is expected to grow to $8.7 billion by 2030. Multiple Japanese companies have invested in these projects, perhaps none more so than Nippon Paper, which built the largest CNF facility in the world. The company has made large investments into CNF to counteract the falling demand of its paper business.
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