United States, Rockville, MD, April 10, 2022 (GLOBE NEWSWIRE) -- The Microfibrillated Cellulose Fiber market is anticipated to grow at a CAGR of 13.6% from 2021-2031, according to a recently published Fact.MR report. By the end of 2029, the market is expected to reach US$ 300 Mn.
Moreover, rising investments in research & development activities to develop cost effective production technology and collaboration of prominent players with end-use industry giants is further going to stimulate the growth of global microfibrillated cellulose fiber market.
Browse in-depth TOC on "Demand of Microfibrillated Cellulose Fiber Market"
77 Tables and
89 Figures
170 Pages
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Demand Outlook for Microfibrillated Cellulose Fiber 2021 to 2031
From 2016 to 2020, the microfibrillated cellulose fiber market has reflected strong growth, expanding at around 12%. The industry has been moderately fragmented. Also, the packaging sector has particularly witnessed stronger growth in high-income regions, with Europe and the United States accounting for higher production in comparison to the Middle East & Africa and Latin America.
As per the Fact.MR report, North America is the second-largest regional market for MFC fiber, and the United States is projected to account for more than 90% of the region’s market share by the end of the projection period.
According to the environmental protective agency (EPA), in 2018, around 32 million tons of corrugated boxes were recycled from close to 34 million tons of overall recycling volumes. The recycling rate for corrugated boxes was 96.5 percent. Further, as per the 2020 American Coatings Association (ACA) Sustainability Report, 11 states in the country enacted laws to establish detailed sustainable paint and coating adoption programs under their jurisdictions.
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Key Takeaways from the Market Study
- Emerging packaging applications such as personal care & cosmetics and food packaging will fuel value growth by 3.3X through 2029
- Barrier film applications among other microfibrillated cellulose applications are estimated to surpass US$120 Mn by 2029 end owing to its advanced barrier properties and growing demand for MFC film for packaging applications
- Fact.MR reports that demand for paper and packaging end use industry of microfibrillated cellulose fiber collectively accounts for over one-third of the global consumption
- Paints and Coatings among other end-use industries is likely to witness a striking growth of ~15-16% throughout the assessment period (2019-2029)
- As compared to developing regions, the sales of microfibrillated cellulose fiber are envisaged to be higher in the countries of North America and Europe. However, developing countries such as India and China are anticipated to gain lucrative profits in the coming years.
Competitive Landscape
The microfibrillated cellulose fiber market is moderately fragmented in nature, owing to the presence of major regional players. Leading manufacturers are largely invested in research and development and product launch strategies, aimed towards expansion of portfolios and expanding the scope of application for microfibrillated cellulose fiber.
- In October 2019, Spinnova collaborated with Fortum to unveil the first prototype of a clothing range manufactured from sustainable microfibrillated cellulose textile fibers extracted from wheat straw, and set on organic cotton wraps.
- In November 2019, Stora Enso Oyj, a leading manufacturer of high-end cartonboards, presented a range of innovations in terms of cellulose pulp, as potential replacements for oil derivatives and plastic packaging for application in cosmetic formulations.
- Borregaard, a leading Norwegian biorefinery player, developed and launched Sense-Fi, a fat substitute and thickener. Based in microfibrillated cellulose, the material is produced through the conversion of indigestible cellulose into starch.
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Market Segments Covered in Microfibrillated Cellulose Fiber Industry Analysis
- Application
- Barrier Films
- Performance Enhancers
- Rheology Modifiers
- Thickening Agents
- Strengthening Agents
- End-use Industry
- Paper
- Packaging
- Dairy
- Others
- Food
- Paints & Coatings
- Personal Care
- Others
- Region
- North America (U.S. & Canada)
- Latin America (Mexico, Brazil, & Rest of LATAM)
- Europe (EU-4, Nordic, Benelux, Poland and Rest of Europe)
- Russia/CIS
- Japan
- Asia Pacific excluding Japan (China, India, ASEAN, South Korea, Australia, and New Zealand, and Rest of APEJ)
- Middle East & Africa (GCC countries, South Africa, and Rest of MEA)
Key Points Covered in Microfibrillated Cellulose Fiber Industry Survey:
- Market Estimates and Forecasts (2016-2032)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- COVID-19 Impact on Microfibrillated Cellulose Fiber and How to Navigate
- Recommendation on Key Winning Strategies
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More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the Microfibrillated Cellulose Fiber market, presenting historical market data (2016-2020) and forecast statistics for the period of 2021-2031.
The microfibrillated cellulose fiber market is highly consolidated with key players ruling the overall market with 75% of the global sales. Manufacturers are increasingly focusing on advancement of production technologies to develop innovative products to maintain a strong position in the market. Manufacturers are expanding their production capacity and collaborating with end-use industry giants to meet the growing demands of microfibrillated cellulose fiber globally.
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